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Terms Flashcards

0
Q

Federalism

A

Idea of dual-sovereignty – federal and state levels; cities and counties are considered creatures of the state

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1
Q

Conflict of Laws

A

When laws of the states conflict with federal laws –> federal prevails

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2
Q

Constitution

A

Highest level of government in a country and the basic outline for which all else is hung; not all are written, but most have a guiding principle (i.e. England and the Magna Carta)

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3
Q

Codes

A

when laws of the country are organized by subject matter and published, often in outline form (i.e. Uniform Commercial Code, Juvenile Code)

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4
Q

Burden of Proof

A

What level of evidence needs to be proven for a guilty verdict – criminal: beyond a reasonable doubt;
civil: preponderance of the evidence (more evidence against the defendant than in favor)

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5
Q

Common Law

A

law created by the courts in written judicial opinions; only exists in appellate and supreme courts; written judgements become law that can be pulled upon for future cases; dates back 700ish years to England; judge-made case law

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6
Q

Administrative Law

A

all rules, regulations and judicial decrees of administrative agencies – if want to fight this, need to exhaust administrative remedies before going to court

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7
Q

Civil Law

A

resolves private disputes between two private parties

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8
Q

Criminal Law

A

issued by the government (federal or state) against those who have broken society’s laws

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9
Q

Procedural Law

A

Governs how the courts operate

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10
Q

Substantive Law

A

“the meat of the law” – the subject matter

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11
Q

Social Compact

A

Theory that the people give the government the power to govern them; Thomas Hobbs introduced and John Locke edited to say there are certain personal rights that can’t be given away to the government

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12
Q

Statutory Construction

A

process the court goes through when interpreting a statute and how it’s going to apply to a case (i.e. What were the legislators trying to say or accomplish?) The specific follows the general.

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13
Q

Original Jurisdiction

A

the first court to hear a case and, therefore, where the facts are established; trial court

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14
Q

Default Judgement

A

Awarded when a summons is not responded to

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15
Q

Commerce Clause

A

most important article of the Constitution to regulate business (article 1, section 8 and deals with interstate, international and Indians)

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16
Q

Enumerated Powers

A

Congress can only do things listed in the Constitution and nothing else; any powers that have arisen outside of Constitution are from statutory construction (how the courts have interpreted the Constitution)

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17
Q

Equal Protection

A

the laws of a state must treat an individual in the same manner as others in similar conditions and circumstances; does not address equality – addresses equal application of the law

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18
Q

Due Process

A

Constitutional guarantee that all legal proceedings will be fair and that one will be given notice; two kinds – procedural and substantive

procedural: right to notice and a hearing
substantive: is there basic fairness or does it arbitrarily take away a person’s rights to a law?

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19
Q

Police Power of the States

A

right to regulate for health and welfare within their borders (ex: make zoning laws, regulate deceptive advertising)

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20
Q

Federal Administrative Procedure Act

A

sets forth guidelines by which agencies can create rules and regulations

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21
Q

Federal Register

A

daily publication that includes and new laws, regulations and executive orders that are proposed

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22
Q

Organic Acts

A

rule of the legislature that creates an agency; enabling provisions give them the power to make laws re: their subject matter

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23
Q

Freedom of Information Act

A

guarantees citizens the right to have access to government decisions; required to provide response with in 10 days

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24
Q

Sunset Laws

A

agencies will cease to exist and get funding on a specific date; keeps agencies from continuing to exist once a problem has been resolved

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25
Q

Sunshine Laws

A

states meetings must be open to the public – “let the sun shine in”

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26
Q

Informal Rulemaking

A

process by which proposals are issued in the Federal Register and no hearing takes place; how much administrative law is handled – posted and then given 30-day comment period

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27
Q

Ultra Vires

A

a way to challenge an agency’s law; means “outside the life of an agency” and challenges that the ruling is outside of the agency’s scope

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28
Q

International Law

A

based on treaties that countries agree to be a part of and then abide by the rules of them; customs and traditional ways of doing business can become a form of international law; can only be enforced if the countries have agreed to abide by it

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29
Q

Act of State Doctrine

A

U.S. will accept the laws of other countries at face value and won’t investigate their legitimacy as long as they don’t violate international law

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30
Q

Sovereign Immunity

A

idea that you can’t sue a government when acting in its soverign/governmental capacity

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31
Q

Theory of Competitive Advantage

A

idea that the flow of goods across international boundaries is good for everyone; let everyone make what their good at

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32
Q

Letter of Credit

A

issued by bank to assure seller that they will get paid by the buyer; ensures money flows in commerce

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33
Q

Correspondent Bank

A

manages the letter of credit/bill of lading process in a transaction

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34
Q

Bill of Lading

A

contract to take possession of goods and transport them to a buyer; proves goods have been shipped

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35
Q

Quotas

A

restrictions on trade to limit imports of products; usually used to protect a threatened domestic industry, but can often lead to trade wars, so they’re used sparingly

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36
Q

Tariffs

A

restriction on trade when a country imposes a tax on certain imported goods to protect a threatened national industry; often can lead to trade wars, so used sparingly

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37
Q

NAFTA

A

treaty made by U.S., Canada and Mexico to reduce tariffs on goods made in North America; been around 15-20 years

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38
Q

Grey Market Goods

A

when goods legally enter a country even though rules exist to prohibit them (ex: U.S. company negotiates exclusivity rights for a French company’s products in the U.S. The French company has contract with a German company who then enters the U.S. and sells the goods. That’s OK and legal.)

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39
Q

Repatriation

A

Ability to remove profits from foreign operations and bring the money back to your own country

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40
Q

FCPA

A

created to limit U.S. citizens from bribing foreign officials; has a lot of exclusions and doesn’t limit grease payments

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41
Q

Comity

A

reciprocity – government will accept the actions of another government as long as the same is done for them

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42
Q

Uniform Commercial Code

A

ensures uniformity state to state in managing business; most significant of model statutes adopted by the states; article 2 is the most prominent and deals with sales of goods

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43
Q

Offer

A

first step in making a contract – needs to be clear and unequivocal with intent to make an offer; if reply varies from offer, then the offer is off the table (ex: I make offer to by red pens and you reply with offer to sell blue pens, then my offer is no longer valid.)

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44
Q

Acceptance

A

rescinding to terms of the offer and has to be clearly communicated to the person who made the offer; federal law states you can’t force someone to accept by silence

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45
Q

Contract Option

A

when a person purchase the right to revoke a contract; can exercise option to get out of it

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46
Q

Illusory Contract

A

agreement to agree on something; not enforceable in the courts

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47
Q

Objective Theory of Contracts

A

idea that courts can’t look into the minds of the people who made a decision, so there has to be evidence of writing that the agreement/decision was made

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48
Q

Express Contract

A

acceptance of a contract

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49
Q

Consideration

A

exchange of value

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50
Q

Implied In-Fact Contract

A

actions imply acceptance (ex: I offer you money to paint my house, and you show up to paint the house. It’s implied you accepted my offer.)

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51
Q

Void Contract

A

illegal contract (ex: can’t sue someone for failing to pay for drugs in a drug deal because dealing drugs is illegal)

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52
Q

Voidable Contract

A

contract goes through, but one of the parties has the right to void it (ex: not mentally sound at time of making the deal, a minor made the deal, etc.)

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53
Q

Unenforceable Contract

A

when a contract exists, but it’s missing some sort of legal requirements

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54
Q

Contract Ratification

A

when one follows through on a contract, even if wasn’t able to at time of making the deal; typically an agent of the person made the deal, and then the person follows through

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55
Q

Contract Recession

A

withdrawal of an offer

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56
Q

Executed Contract

A

offer has been fully performed

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57
Q

Executory Contract

A

part of the offer is still in process

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58
Q

Statue of Frauds

A

common law concept of what contracts have to have in writing

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59
Q

Contractual Capacity

A

person has to be of sound mind and legal age to enter into a contractual agreement

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60
Q

Defamation

A

an intentional tort that occurs when something is printed and harms a reputation

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61
Q

Slander

A

oral defamation

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62
Q

Libel

A

defamation in print; damages are more than with slander

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63
Q

Intentional Tort

A

person’s actions are intentional and there is no negligence; often gives rise to punitive damages

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64
Q

False Imprisonment

A

intentional tort; holding someone against their wishes, but the person has to be aware they’re being held

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65
Q

Trespassing

A

intentional tort that prohibits someone from the enjoyment of their own personal property

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66
Q

Reasonable Care

A

standard that has to be established not to be negligent

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67
Q

Contributory Negligence

A

person suing for negligence was also negligent – and had they not been, the other person’s negligence wouldn’t have had an impact

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68
Q

Assumption of Risk

A

person who knows they’re about to take a risk accepts responsibility and proceeds with agreement – cannot then sue for result of the risk later

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69
Q

Res Ipsa Loquitor

A

“the thing speaks for itself” – when negligence can’t be proven, but without negligence, the action wouldn’t have happened (ex: elevator cable snaps, then the owner of the building is liable because his negligence to have elevator inspected led to cable snapping)

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70
Q

Wrongful Interference with Contractual Relations

A

when a valid, enforceable contract is in place between two parties and a knowledgeable third party convinces one of the others to break the contract (ex: non-compete agreements in employment – only interference if new employer knows it exists)

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71
Q

Trespass to Personal Property

A

preventing someone from enjoying their own property (i.e. blocking driveway so can’t leave); intentional tort

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72
Q

Fraud

A

misrepresenting a fact intentionally so someone acts on it to their detriment (ex: selling swampland as “ocean front property” so someone will put an offer on it)

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73
Q

Strict Liability

A

even without fault, negligence or intent a party is going to be held liable for actions because they’re engaged in harmful activity or created a dangerous product (ex: dynamite manufacturer); many factor in cost of insurance against this when pricing/selling product

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74
Q

Negligence Per Se

A

negligence can be proven even if law is broken, even if there’s no evidence; only valid in certain jurisdictions

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75
Q

Privity

A

proof a contractual relationship existed; used to be necessary but dropped largely because of automobile industry – a buyer of a used car never had contractual relationship with original dealer, therefore can’t hold original dealer responsible; standard now is “seller beware”

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76
Q

Express Warranty

A

expressed statements about the nature of a product (i.e. pharmaceutical ads)

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77
Q

Implied Warrant of Merchantability

A

the goods will pass without objection in trade and will be able to do the normal things that product should do (ex: cups sold won’t leak); only applies to those acting as merchants, not private individuals; can be disclaimed if product is sold “as-is” and without warranty

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78
Q

Implied Warranty of Fitness

A

if selling something and know what the buyer is going to use it for, then the goods need to meet that purpose; does not only apply to merchants – applies to individuals as well

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79
Q

Puffing

A

sales talk that does not create warranty (ex: “This is going to be great.” or “The best you’ve ever seen.”)

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80
Q

Eminent Domain

A

right of the government to take property from citizens, but has to compensate the citizens appropriately

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81
Q

Profit (in the property sense)

A

the right to enter onto someone’s land to remove minerals, oils, crops, etc.

82
Q

License

A

non-possessory right in property but have the rights to use it for a specific purpose (ex: suites at sporting venues – owned by venue, but can purchase a license to use it yourself)

83
Q

Easement

A

non-possessory interest in land to allow passing over, under or through; often granted to utility companies or access to roads that cross through one’s property to get to another’s

84
Q

Mechanics Lien

A

workers can file a lien on your property to ensure before you can sell the property, you have to clear all debt with them; have to give buyer notice of the lien

85
Q

Tenancy in Common

A

way of holding real property such that each person has right to the whole thing, but there’s no survivorship in death because individual’s ownership goes to each individual’s estate

86
Q

Joint Tenancy

A

ownership of one transfers to surviving owner

87
Q

Fixture

A

what goes with property once it’s sold; determining factor is often how firmly it’s affixed to the property and what function it provides (ex: statues in yards, items on walls, etc.)

88
Q

Fee Simple Absolute

A

highest interest allowed in property where you own it completely and can do with it as you wish; best way to own property

89
Q

Life Estate

A

you own something during your lifetime and it doesn’t transfer by will upon death; most often discussing trusts when referred to today

90
Q

Warranty Deed

A

deed you want to have when purchasing property because it protects against defects

91
Q

Quickclaim Deed

A

selling someone the interest you have in land, but there’s no record of legal ownership; often not insured by title companies

92
Q

Lease Assignment

A

transfer complete interest of least to another person

93
Q

Sublease

A

tenant all or part of property for a period of time with intent to return the possession

94
Q

Standing

A

the right to file a lawsuit

95
Q

Complaint

A

the first document filed with the court by a person or entity claiming legal rights against another; usually the plaintiff filing it; must state factual and legal basis

96
Q

Answer

A

a written pleading filed by a defendant to respond to a complaint in a lawsuit filed and served to that defendant

97
Q

Compensatory Damages

A

sum of money awarded in civil cases to repay person for the particular loss, detriment or injury suffered as a result of unlawful conduct of another; provide plaintiff with monetary amount necessary to replace what was lost and nothing more

98
Q

Punitive Damages

A

monetary compensation awarded to an injured party that goes beyond that which is necessary to compensate the individual for losses and that is intended to punish the wrongdoer; also known as exemplary damages

99
Q

Nominal Damages

A

minimal money damages awarded to an individual in an action where the person has not suffered an substantial injury or loss for which he or she must be compensated; awarded to show plaintiff he/she was right

100
Q

Summons

A

the paper that tells a defendant he or she is being sued and asserts the power of the court to hear and determine the case; a form of legal process that commands the defendant to appear before the court on a specific day and to answer the complaint made by the plaintiff; officially starts the lawsuit

101
Q

Jurisdiction In Rem

A

a lawsuit against an item of property, not against a person; object of lawsuit is to determine the disposition of the property, regardless of who the owner is or who else might have an interest in it

102
Q

Jurisdiction In Personam

A

a lawsuit against a person

103
Q

Arbitration

A

submission of a dispute to an unbiased third party designated by the parties to the controversay, who agree in advance to comply with the award – a decision to be issued after a hearing at which both parties have an opportunity to be heard; takes place out of court; not litigation

104
Q

Mediation

A

A settlement of a dispute or controversy by setting up an independent person between two contending parties in order to aid them in the settlement of their disagreement

105
Q

Negotiation

A

give-and-take discussion or conference in an attempt to reach an agreement or settle a dispute

106
Q

Contingent Fee

A

payment to an attorney for legal services that depends upon there being some recovery or award in the case; payment is often a percentage of amount recovered; valid only in civil cases; often regulated by court rules and statutes

107
Q

Res Judicata

A

a rule that a final judgment on the merits by a court having jurisdiction is conclusive between the parties to a suit as to all matters that were litigated or that could have been litigated in that suit; in essence double jeopardy in civil disputes

108
Q

Probate Court

A

a court limited to the jurisdiction of probating wills and administering estates

109
Q

Dissenting Opinion

A

a justice’s refusal to concur with the opinion of a majority, as on a higher court (ex: Supreme Court)

110
Q

Concurring Opinon

A

an opinion that agrees with the court’s disposition of the case but is written to express a particular judge’s reasoning

111
Q

Courts of Record

A

a court whose proceedings and decision are retained on permanent record

112
Q

Class Action

A

a lawsuit brought by one or more plaintiffs on behalf of a large group of others who have a common legal claim

113
Q

Writ of Execution

A

a routine court order that attempts to enforce the judgment that has been granted to a plaintiff by authorizing a sheriff to carry it out; generally deals with collection of funds or property

114
Q

Writ of Attachment

A

a court order directing a sheriff (or other law enforcement official) to seize property of a defendant which would satisfy a judgment against that defendant

115
Q

Remedies

A

the manner in which a right is enforced or satisfied by a court when some harm or injury, recognized by society as a wrongful act, is inflicted upon an individual; four types – damages, restitution, coercive remedies and declaratory remedies; intended to compensate the injured party for harm suffered

116
Q

Motion to Dismiss

A

asks the court to decide that a claim, even if true as stated, is not one for which the law offers a legal remedy; can also be used when a case is presented after the statute of limitations has expired; “throwing out” the case; if dismissed, opposing side does not present evidence

117
Q

Discovery

A

the efforts of a party to a lawsuit and his/her/its attorneys to obtain information before trial; often much of the fight between two sides in a suit takes place during the discovery period

118
Q

Litigation

A

any lawsuit or other resort to the courts to determine a legal question or matter

119
Q

Federal District Court

A

general trial courts of the U.S. federal court system; both civil and criminal cases are tried; established by Congress

120
Q

Federal Court of Appeal

A

intermediate appellate courts of the U.S. federal court system; decides appeals from district courts; considered among the most powerful and influential courts in the U.S. b/c serves as final arbiter on most federal cases and through case law has much policy influence on U.S. law

121
Q

Judicial Review

A

idea that the actions of the executive and legislative branches of government are subject to review and possible invalidation by the judicial branch; allows Supreme Court to ensure the other branches of gov’t abide by the Constitution

122
Q

Supremacy Clause

A

establishes that the federal constitution, and federal law generally, take precedence over state laws and constitutions

123
Q

Pre-Emption

A

doctrine based on the Supremacy Clause that holds that certain matters are of such a national character that states may not pass laws inconsistent with the federal law

124
Q

Commerce Clause

A

provision of the Constitution that gives Congress exclusive power over trade activities among the states and with foreign countries and Indian tribes

125
Q

Enumerated Powers

A

list of items in the Constitution that set forth the authoritative capacity of Congress

126
Q

Equal Protection

A

14th Amendment; no state shall deny any person within its jurisdiction the equal protection of the laws; primary motivation was to validate and perpetuate the equality provisions in the Civil Rights Act of 1866

127
Q

Enabling Acts

A

legislative act conferring certain specified powers on a person or organization; creates agencies

128
Q

Foreign Sovereign Immunities Act

A

U.S. law that establishes the limitations as to whether a foreign sovereign nation may be sued in U.S. courts – federal or state; provides basis and means to bring a lawsuit against a foreign nation in the U.S.

129
Q

Gift Inter Vivos

A

gift during life: three conditions must exist to be a gift – donated with intent, delivery, acceptance

130
Q

Gift Causa Mortis

A

gift in contemplation of death (oftentimes a battlefield situation); if person makes a gift when thinks they’re dying and then does not die, the gift is no longer valid

131
Q

Bailments

A

when you entrust your property to someone else for safekeeping; only involves transfer of possession – not ownership

132
Q

Copyright

A

protects ideas expressed in various forms (written, spoken, performed)

133
Q

Trademark

A

word, letter, number, design, picture, logo, etc. to designate someone’s goods; registered with the government to prevent others from using it

134
Q

Patent

A

government gives legal monopoly to private party for a process, machine or improvement on an existing invention; must be novel, unique and useful to get patent; can’t be obvious

135
Q

Infringement

A

violation of someone’s copyright or patent that gives rise to legal actions (pay damages or cease and desist order issued)

136
Q

Dilution

A

type of unlawful trademark use outside of the relevant market; lessening of capacity of a trademark (ex: South Butt)

137
Q

Digital Millennium Copyright Act

A

provides safe haven to internet hosts against copyright actions of users – as long as they have a policy to terminate repeat offenders when they’re identified

138
Q

Cybersquatting

A

one person registers an internet domain on a person’s trademark before the trademark owner can do so; can give rise to damages if proven they were trying to extort money from owner

139
Q

Joint Venture

A

two or more parties pool resources for a specific project of a limited time period (as opposed to partnership, which is permanent)

140
Q

Dissolution

A

winding up of the affairs of a corporation or partnership; divvy up the assets

141
Q

Duty of Care

A

legal obligation imposed on an individual requiring they adhere to a standard of reasonable care while performing any acts that could foreseeably harm others; first element that must be established to proceed with a negligence claim

142
Q

Sole Proprietorship

A

one owner of a company or business; creditors can come after personal assets because there is no liability shield

143
Q

Corporation

A

legal entity; most efficient form of business when there are multiple owners; sets up a liability shield to protect the owners’ personal assets; always governed by state law

144
Q

Partnership

A

two or more people operating a business for a profit; have right to share in management decisions; disadvantage is liability to one for the actions of the other

145
Q

Limited Liability Partnership

A

partnership in which some or all partners have limited liabilities; one partner is not responsible for another’s misconduct or negligence; often used by doctors and lawyers so all are collectively responsible for property and salaries, but each is responsible for own malpractice

146
Q

Board of Directors

A

group charged with ultimate responsibility for running a corporation; they are elected by shareowners and have to avoid conflicts of interest

147
Q

Corporate Officers

A

elected by board of directors to manage day-to-day affairs of the corporation

148
Q

Business Judgment Rule

A

specifies the court will not review the business decisions of directors who performed their duties in good faith, with the care that an ordinary prudent person in a like position would, and in a manner the directors reasonably believe to be in the best interest of the corporation; frees directors and officers from liability to decisions that may harm the corporation

149
Q

Double Taxation

A

levying of tax by two or more jurisdictions on the same declared income, asset or financial transaction; corporate profits are taxed and the shareholders are usually subject to personal taxation when they receive dividends or distributions from those profits, which is why many companies pay bonuses or reinvest to prevent it

150
Q

Prospectus

A

disclosure document that describes a financial security for potential buyers; provides fact and material information, but not buying recommendations

151
Q

Equity Ownership

A

common stock; common stakeholders have ownership of a corporation

152
Q

Fixed Income Security

A

stocks that create no obligation to pay dividends or any other form of income; in essence it’s a corporate bond where the company raises money for projects by selling bonds

153
Q

Preferred Stock

A

special class of stock a company will issue, usually to raise money, and contains a combination of features not possessed by common stock holders; shares are superior to common stock, but subordinate to bonds in terms of claim; can be a means of estate planning for privately owned companies

154
Q

Securities Act of 1933

A

act passed after the Great Depression to regulate the initial offering of securities; first major federal legislation to regulate the offer and sale of securities

155
Q

Securities Act of 1934

A

regulates the secondary market of stock that’s already existing; section 10.b.5 tries to prevent fraud in the buying and selling of securities (insider trading)

156
Q

Sarbanes Oxley Act of 2002

A

set new and enhanced standards for public company boards and financial statements and stated they have to be true; put fiduciary responsibility on management and accounting firms

157
Q

Duty of Loyalty

A

members of a board or corporation must put the corporation’s interests ahead of their own; generally OK if director makes decision that benefits company and him/herself – problems arise when put needs of self in front of corporation’s

158
Q

Duties of Agents

A

agent has duty to use reasonable are and skill with property they’re caring for and to follow instructions; employees are considered to be agents of a company

159
Q

Duties of Employer

A

Employer has duty to employees and agents to provide a safe place to work, the tools necessary to do the jobs and to pay reasonable fees for services

160
Q

Agency Creation (ways to create)

A

Three ways:

1) expressed authority: right of someone to do something because of law or contract
2) implied authority: ability of individual to make a contract on behalf of an organization by way or uniform or interaction w/public (ex: waitress offering free soda with a meal)
3) apparent authority: a reasonable person would understand that an agent had authority to act (ex: has uniform, company car, business cards, etc.)

161
Q

Agency Termination (ways to terminate)

A

1) expressed statement

2) death of a principal

162
Q

Respondeat Superior

A

owner/manager of a company is legally responsible for the torts of the employee or agent within the scope of employment

163
Q

Vesting

A

when an employee has an unalterable right to some employee benefit he/she has earned

164
Q

Disparate Impact/Title VII

A

most important of civil rights actions; protect people against employment discrimination for sex, national origin, race religion; says a company can discriminate with or without intent (if the practices have disparate impact); sex or merit can be used to argue against this

  • Disparate impact: employment actions inadvertently have an impact against a group of people
165
Q

Sexual Harrassment

A

employer has obligation not to allow harassment to go on and to stop a hostile environment; companies have to have a policy against it and supervisors should be trained in how to deal with it

2 kinds:

  • Quid Pro Quo: “this for that” – job is contingent upon person putting up with uncomfortable situations
  • hostile environment: “locker room” environment for women
166
Q

Workers Compensation

A

company pays a certain amount of wages and medical expenses as long as you can establish the injury occurred on the job and all injuries you have were a result of the action; no longer has need to show negligence on part of employer to get money

167
Q

Fair Labor Standards Act

A

ensures people have reasonable hours of work and are paid fairly for overtime

168
Q

Unemployment Compensation

A

when people get paid a portion of their salary after losing a job; can’t get if quit or were fired for serious cause (employer has 10 days to protest); only employers pay taxes to fund this

169
Q

ERISA

A

Employee Retirement Income Security Act – regulates the operation of private pensions and benefit plans; deals w/employee benefits and establishes fiduciary responsibility to make sure companies use funds for employee benefits

170
Q

Americans with Disabilities Act

A

law that provides fair treatment of people who are disabled in some way as long as they can perform the work; the employer is required to make reasonable accommodations to make sure the person can work

171
Q

Age Discrimination in Employment Act

A

law that states employers can’t discriminate against people 40 years of age and older in hiring decisions; also states there can’t be a mandatory retirement age unless it’s a safety issue for the job (i.e. pilots)

172
Q

COBRA

A

allows people to continue to buy health insurance through a former employer for up to 18 months if leave their job; employer does not contribute any funds

173
Q

Family and Medical Leave Act

A

passed in the early 90s and states people have the right to take up to 12 weeks of non-paid leave to deal with a serious medical condition that impacts them or someone in their immediate family and still have their job or a comparable job when they return; employer is required to cover its portion of insurance/benefit costs during that time

174
Q

National Labor Relations Act

A

passed after Great Depression and started to give rights to employees to form unions; prevented companies from firing or intimidating employees for discussion forming unions; also formed the National Labor Relations Board, which supervises unions

175
Q

Unfair Labor Practice

A

act a company or union takes that violates union election; employer must negotiate with unions and unions can’t require employer to hire workers the company doesn’t need

176
Q

Authorization Cards

A

how union representation gets started; petition-like concept where group has to get 51% of employees to say they want to vote on the creation of a union; if passes, the union has a 4-year contract to provide labor stability and peace

177
Q

Certification

A

process of getting a union certified

178
Q

Decertification

A

Getting a union thrown out

179
Q

Clayton Act

A

second of great anti-trust acts – put teeth into the Sherman Act and gives government the power to go after combinations of businesses who were establishing monopolies and lessening competition; largely focused on price discrimination

180
Q

Tying Contracts

A

illegal attempt to control distribution by restricting access to related things (i.e. oil company using market power to require its customers to buy barrels from a certain vendor); “tie” sales together

181
Q

Price Fixing

A

concerted effort by competitor to fix prices in an industry; reduces competition

182
Q

Group Boycott

A

people/companies agree not to patronize a manufacturer to put a squeeze on them to do something you want

183
Q

Antitrust in International Markets

A

if actions happen overseas but impact competition in the U.S., the claims can be filed in U.S. courts

184
Q

Market Division

A

illegal agreement by two or more companies to stay out of each other’s way and reduce competition in the agreed-upon areas

185
Q

Horizontal Merger

A

mergers of companies at the same level of the value chain and reduce competition (ex: Lowe’s and Home Depot merge and Menards, True Value and Ace have reasonable claim with DOJ)

186
Q

Vertical Merger

A

company merges with others up and down the value chain (ex: Ford Motor Company buys companies who make car parts)

187
Q

Consolidation

A

when two companies merge and a new entity is formed (ex: Ford and GM merge and create a new company)

188
Q

Interlocking Directorate

A

illegal activity of a director serving on two competing companies’ boards and influencing the market; also violates duty of loyalty

189
Q

Monopolization

A

illegal activity when a firm has too much power in a specific market

190
Q

Traditional vs. Chicago Schools of Anti-Trust

A

Traditional: aggressive enforcement of anti-trust and protect small business

Chicago: laissez-faire and let business be business

191
Q

Sherman Act

A

original federal statue passed in 1890; prohibits certain business activities the government deems to be anticompetitive and requires the federal government to investigate and pursue trusts, companies and organizations suspected of being in violation

192
Q

Robinson-Patman Act

A

law from the 1930s that went after price discrimination; arose during the start of large chain stores when they were allowed to purchase goods cheaper than other retailers; still used today

193
Q

Voluntary Bankruptcy

A

a debtor declares bankruptcy to obtain relief from debt by either discharging or restructuring the debt

194
Q

Bankruptcy Claims

A

period of time when people owed money by debtor claim how much the person/entity owes them; notice of period filed in paper by bankruptcy trustee

195
Q

Involuntary Bankruptcy

A

creditors come together and force a person or entity into bankruptcy

196
Q

Discharge of Bankruptcy

A

when debts are forgiven and entity goes free

197
Q

Truth in Lending Act

A

act focused on consumers; Regulation Z is part that spells out the true cost of credit (rates)

198
Q

Fair Debt Collection Act

A

focused on consumers; prevents abusive acts of debt collectors by regulating when they can/can’t call you and what actions they can take to get your money)

199
Q

Franchisee

A

person given a franchise to market a company’s goods or services in a specified market

200
Q

Equal Credit Opportunity Act

A

law enacted in 1974 that prevents creditors from discriminating against a class of people

201
Q

National Environmental Policy Act

A

established Council on Environmental Quality; requires an EIS when starting new programs; has been called the modern-day equivalent of an “environmental Magna Carta”

202
Q

Clean Air Act

A

set standards for air quality standards; controls air pollution

Business Legal Theories (1 decks)

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