Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Business Legal > Test 3 > Flashcards

Test 3 Flashcards

1
Q

employment at will

A

-employer can fire an employee at anytime with or without a reason
-employee can quit a job at anytime with or without a reason

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

for cause (firing)

A

-good reason

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

formal employment contract

A

-hired for amount of time
-coaches
-pay money to fire before time

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

2 weeks notice?

A

-not required
-business custom
-keep good relations

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

leave from job (time off)

A

-unless required by law an employer is not required to give leave on the job
-most employers offer leave as benefit

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

family and medical leave act

A

-federal statute (all 50 states)
-more than 50 full time employees
-every employee is entitled to 12 weeks of leave per year
-must be family/medical issue
-employer doesn’t have to pay while on leave
-upon returning employee must be given same/similar job (prevent retaliation)
-benefits by employer must continue during leave

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

how/when you get paid if injured on job

A

-old system
-new system

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

old system

A

-employee could sue his employer for an on the job injury only if the employers negligence caused it
-sue for compensatory damages
-not all injuries caused by employer negligence

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

new system

A

-employee will be compensated for an on the job injury if it occurred while doing his job
-doesn’t who/what caused it
-get less then would for negligence
-finite limit to what you get
-paid through employer insurance
-if the company fails to have the required insurance the employee can sue the employer directly and recover twice the amount he would receive

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Discrimination

A

-can not treat someone differently for reasons other than Merritt

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

equal pay act

A

-A man and a woman must be paid the same if they have the same qualifications and doing the same job

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Civil Rights Act (tittle 7)

A

-if you are a member of one or more of these classes I can’t treat you differently because you’re a member of one or more of these classes

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Whats included in the Civil Rights Act

A

-race/color
-sex/gender
-religion
-national origin
-disabilities
-age

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Sex (civil rights act)

A

-can’t treat pregnancy differently than any other medical condition
-sexual harassment is prohibited
-sexual identity

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

what is sexual harrassment?

A

-open/obvious (physical touch)
-creating or allowing a hostile work environment
-gender neutral

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

reverse discrimination

A

-people who are not normally discriminated against are discriminated

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

Religion (Civil Rights Acts)

A

-belief in a higher spiritual power/being
-an employer has to make reasonable accommodations

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

rules for accommodations for religion?

A

-if costs a lot you don’t have to make
-safety takes priority

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

national origin (Civil Rights Act)

A

-born in a foreign country/immediate ancestors

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

age(civil rights act)

A

-cheaper pay
-avoid paying retirement
-40 and up you can’t be treated differently due to age

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

Defenses of discrimination

A

-Merritt/qualifications
-seniority
-employment testing (must test for job skills)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

procedure for a discrimination case

A

-Victim must file a complaint with Equal Employment Opportunity Commission (EEOC)
-EEOC will investigate on behalf of the victim
-EEOC will act as a neutral mediator
-EEOC will either file suit on behalf of the victim or give the victim a sue letter which allows the victim to file his own lawsuit
-all discrimination cases must be filed in federal court

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

Civil Rights Act remedies

A

-reinstatement to the job if wrongfully fired (injunction)
-court can order a promotion that was wrongfully denied
-back pay
-hiring quotas
-attorney fees

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

back pay (remedy)

A

-compensatory (money damages)
-pay for the time (wrongfully fired/promotion)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
hiring quotas (remedy)
-injunction -order to hire people they wrongfully refused
26
Attorney fees (remedy)
-if you agree in a contract to pay the winners attorney fees -if a statute authorizes the court to shift the burden of paying attorney fees (CRA) -In the US you usually pay your own attorney fee no matter if you win
27
If you win/ get verdict are guaranteed to get paid
-no -might never collect
28
collecting a judgment (verdict)
-forces the defendant to pay/give up property against their will
29
steps of collecting a judgement
-plaintiff must sue defendant -defendant must be personally served (personal jurisdiction) -defendant gets a trial -If the plaintiff proves his case he gets a verdict against the defendant for a specified amount of money damages
30
methods of collection for judgement
-wage garnishment -non wage garnishment -execution sale of defendants property -can use a combination at the same time and several times
31
wage garnishment
-takes 25% out of the defendants paycheck -occurs until judgement plus interest is paid -court issues order to employer and if they refuse the creditor gets a second judgement against the employer at the same amount -federal law prevents firing for the first wage garnishment
32
non wage garnishment
-seizing money of the debtor other then his pay -judgement creditor can sieze any money owed to a debtor by a third party other than wages -limit is judgement amount plus interest -checking account -accounts receivable
33
execution sale of defendants property
-public auction where the debtors property is sold to the highest bidder -held by county sheriff -any real property/personal can be sold
34
judgement rate of interest
-7 percent a year (Alabama)
35
time of judgements
-effective for an initial period of ten years -if not paid in full can be extended another ten years
36
Process of applying for a loan
-credit history -credit bureaus (collect/sale credit history)
37
two sources of credit history
-creditors you deal with -public records
38
who is your credit history sold to?
-creditors -employers
39
what do employers check?
-social media -criminal record -credit
40
what is on a credit application?
-sources of income -job/salary -how many different jobs -checking/savings -real estate -colateral
41
colateral
-property of the debtor that secures payment of the loan -use to pay off loan
42
unsecured loan
-no colateral -higher interest rate
43
secured loan
-colateral -lower interest rate
44
principle
-amount of the loan
45
amortization
-how you pay the interest/principal
46
front end load payment
-creditor will apply most to interest and very little to principle
47
negative equity
-you owe more then the collateral is worth
48
positive equity
-you owe less than the collateral is worth
49
ownership
-law recognizes you or me as the owner (car tittle) -expect the law to protect our ownership -can have more than one owner of a piece of a property at the same time (joint ownership) -can have different ownership interest in the same piece of property at the same time (secured loan with collateral)
50
unsecured loan documents
-promissory note
51
secured loan documents
-promissory note -security agreement
52
promissory note
-this is the doc that creates the legal obligation of the debtor to repay the loan
53
security agreement
-debtor gives ownership interest in collateral to creditor and sets out conditions of loan
54
Uniform Commercial code
-statute that sets out the rules on secured loans and personal property
55
Rules of UCC
-upon default by the debtor the secured creditor has legal right to repossess the collateral -self help/detinue (use either/both) -default defined in security agreement
56
common defaults
-failure to pay as required by the promissory note -failure to keep the collateral insured
57
self help repossession
-creditor doesn't have to get consent of debtor -creditor doesn't have to give advance notice -debtor not required to voluntary surrender -creditor must leave debtors property if told -creditor can repossess at any time/place as long as they dont breach the peace
58
what happens after repossession with self help
-creditor must give notice to debtor about collateral repo and tells them how much to pay to redeem collateral -amount to redeem is the unpaid loan balance -informs debtor collateral will be sold and how to participate
59
Good notice
-mailed to the last/ best known address
60
public sells
-highest bidder wins
61
private sell
-take sealed bids from bidders and highest wins
62
selling of collateral
-creditor must sell in a commercially reasonable manner -creditor not required to obtain retail value -more money its sold for the debtor owes less -any surplus balance goes to debtor -debtor still owes the deficiency balance
63
Defective notice
-not sent to last best known address -doesn't prohibit creditor from collecting -if the debtor can prove money damages those damages become a credit against deficiency -had to prove if he got the letter he had highest bidder
64
Detinue
-court order -sue the debtor -personally serve the debtor -debtor gets a trial -plaintiff must produce evidence to get judgment -county sheriff repos collateral according to judgement -used when you can't get to the collateral -creditor isn't required to repo collateral -creditor sues debtor for the unpaid loan balance under promissory note
65
bankruptcy
-end result in discharge -owing money is nothing more than a contract -releases from contract to pay
66
certain debts are nondischargeable
-taxes -child support -alimony (spousal support) -student loans -damages resulting from an accident involving alcohol -a loan obtained by giving false financial info
67
chapter 7
-straight bankruptcy -secured loan collateral is surrendered to creditor and loan is discharged -if reaffirmed debtor keeps collateral but obligated to pay unpaid loan balance -if unsecured it is discharged
68
fresh start bankruptcy
-walk out debt-free if no dischargeables
69
chapter 13
-debtors court -repayment plan for the debtor -debtor is given up to 5 years -during 5 years debtor is protected from collection methods (STAY) -debtor proposes a payment plan -debtor makes monthly payments to trustee and trustee divides money up -every plan is different
70
amount to pay to chapter 13
-debtor required to pay his monthly disposable income to the trsutee -pay whats left after living expenses
71
chapter 13 paid to secured creditors
-pay value of collateral not loan balance (retail) -interest at reduced rate set by the judge
72
chapter 13 paid to unsecured creditors
-get a percentage after secured is paid -get no interest
73
what are the debtors options for bankruptcy
-chapter 7 or 13
74
Fair credit reporting act
-regulates credit bureaus -every consumer entitled one free credit report per year (summary) -can keep regular credit for 7 years -can keep bankruptcy for 10 years -every consumer has right to challenge incorrect info -every consumer has right to put letter of explanation in their file
75
what happens when challenging incorrect credit info?
-every credit bureau obligated to investigate -if info incorrect it must be removed -can't remove correct info only wrong
76
Fair credit billing act
-gives every consumer the right to challenge a mistake on their credit card bill -limits consumers liability for lost cards
77
what happens when challenging a mistake on a credit card?
-credit card company investigates -while disputing you are not obligated to pay
78
whats the limit for consumer liability on a lost credit card
-limit 50 dollars for unauthorized charge -must immediately notify if lost card
79
Fair debt collection practices act
-prohibits abusive/harassing collection methods -only applies to third party collectors -doesn't apply to creditor collecting own debt -prohibits phone calls to debtors house at extreme hours -debt collector can't call at work if instructed not to -debt collector prohibited to discuss with third party without consent -debt collector can't threaten debtor with some action the creditor isn't allowed to take
80
Equal credit opportunity act
-prohibits discrimination in the granting of credit -requires disclosure to the credit applicant if they are denied
81
what are the classes of protected individuals?
-race/color -sex/gender -religion -marital status -national origin
82
what must they do when they deny a credit applicant?
-notify the applicant on paper and list reasons why denied -notify applicant he can contact creditor and find out reasons denied

Business Legal (3 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2025 Bold Learning Solutions. Terms and Conditions