Section2.10.9 Flashcards
What is currently requiered to change the minimum wage?
A vote from Congress.
Who makes the federal laws?
Congress
Who makes state laws?
State Legislature
What is needed in addition to windmills when talking about wind power?
Gas powered plants in case there is no wind
How much renewable energy is requiered in Montana?
15%
What is a holding company?
A holding company is a buisness that is set up to oversee multiple stores/corporations.
What positions are normally in a holding company?
Lawyers, CPAs, HR department, CFO
How do holding companies minimize taxes?
They bill their stores based on the services that the holding company provides (Lawyers, CPA, ect) so the stores have no net profit. The holding company can be placed in another nation to avoid US tax rates and only have to pay taxes based on where they are set up.
How can contracts change the general rules (i.e. each party paying its own lawyers)
It is possible to write in Mediation and Arbitration agreements
What is Mediation?
When the two parties come together with a neutral party to help resolve the issue without a lawsuit.
What is Arbitration?
When the parties sit down with an arbitrator to help settle the disbute.
How does Mediation and Arbitration differ?
Mediation is non binding, while Arbitration is final, binding and enforcable in court.
What is the AAA?
Amarican Arbitration Association
How does the cost of Arbitration hurt an employee?
Each party has to pay the Arbitrator $5,000 upfront so an amployee may not be able to afford this.
Why would a small employer want to include clauses for Mediation and Arbitration in an employee contract?
Because it would force both parties to settle disputes without a trail lawyer getting incolved.
