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Business > Unit 1: People in Business > Flashcards

Unit 1: People in Business Flashcards

1
Q

Contract

A

A legally binding agreement between two or more parties that can be enforced in a court of law, e.g. a contract for the sale of a car

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2
Q

Law of contract

A

Sets out when a contract exists and when it ends

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3
Q

Invitation to treat

A

an indication that offers are welcomed

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4
Q

Offer

A

a clear indication of a party’s willingness to enter into an agreement under specified terms

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5
Q

Acceptance

A

the party receiving the offer accepts all terms of the offer as it stands, either orally, in writing, or by conduct

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6
Q

Intention to contract

A

both parties must be aware that they are entering into a legally binding agreement that could see them in court of they fail to keep their side of the agreement

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7
Q

Capacity to contract

A

all people and organisations have the legal right to enter into a legally binding business contract, with a few exceptions

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8
Q

Consideration

A

each party in the contract must give something of value to the other party. Both parties must gain from the contract

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9
Q

Consent to contract

A

the people and organisations entering the contract must do so voluntarily, with full knowledge of all elements of the contract

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10
Q

Legality of form

A

certain contracts must be in writing if they are to be legally vaild

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11
Q

Legality of purpose

A

a legally valid contract cannot exist for something illegal or itself involve breaking the law

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12
Q

Performance

A

both parties to the contract carry out their duties as required by the contract

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13
Q

Agreement

A

the parties agree to end the contract by mutual consent, whether or not the purpose of the contract has been achieved

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14
Q

Frustration

A

an unforseen event prevents the contract from being completed

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15
Q

Breach of contract

A

if one of the parties does not perform their side of the contractual obligation i.e. does not honour the promises made, the contract is said to have been cancelled

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16
Q

Condition

A

an essential element of the contract

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17
Q

Warranty

A

a non-essential element of the contract

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18
Q

Specific performance

A

the party in breach of the contract is ordered by court of law to carry out its agreed contractual obligations

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19
Q

Caveat emptor

A

‘let the buyer beware’

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20
Q

Consumers’ Association of Ireland (CAI)

A

a voluntary body that provides information and advice to consumers and lobbies the government for improved consumer legislation

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21
Q

Sale of Goods and Supply of Services Act 1980

A

sets out the legal rights of consumers, the legal responsibilities of retailers and the kinds of legal redress available

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22
Q

Unsolicited goods/inertia selling

A

it is illegal to demand payment for goods that were not ordered

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23
Q

Consumer Protection Act 2007

A

protects the consumer from unfair business-to-consumer commercial practices through a variety of measures

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24
Q

Competition and Consumer Protection Commission (CCPC)

A

an independent statutory body that enforces competition and consumer protection law in Ireland

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25
Q

Small Claims Procedure

A

deals with consumer complaints relating to goods or services purchased for private use, up to a maximum value of €2000

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26
Q

Office of the Ombudsman

A

examines complaints from members of the public who believe they have been treated unfairly by public service providers or public bodies

27
Q

Financial Services and Pensions Ombudsman

A

an independent, fair and free service that deals with complaints from consumers against financial service providers and pension providers

28
Q

Interest group

A

any group representing stakeholders who share a common interest or goal. They aim to influence decision makers through negotiation, lobbying or boycotting

29
Q

Trade union

A

an organisation set up to protect the rights and interests of the workers it represents, especially on issues of pay and conditions of employment

30
Q

Co-operative Relationship

A

When stakeholders work together towards a common goal or objective (mutually benificial or win-win)

31
Q

Competitive relationship

A

When stakeholders are rivals or pursue an objective at the other’s expense (win-lose)

32
Q

Industrial relations

A

the relationship between employers and employees in an organisation

33
Q

Trade Dispute

A

any dispute between employers and employees that is connected to the employment or non-employment, or the terms or conditions affecting the employment, of a person

34
Q

Cost of Living Claim

A

workers request a pay rise whe n the cost of living increases due to inflation

35
Q

Comparability Claim

A

workers seek comparable pay to workers doing similar jobs in a different business

36
Q

Relativity Claim

A

When the pay of one group of workers is linked to another group in the same business despite their different roles

37
Q

Productivity Claim

A

a pay claim for meeting performance targers or to compensate for changes in the role

38
Q

Negotiation

A

the employer and employee make a series of offers and counteroffers intended to solve the conflict. They must be prepared to compromise

39
Q

Conciliation

A

A conciliator - a trusted third party that both sides see as unbiased - encourages the parties to settle the dispute through continued negotiation

40
Q

Mediation

A

an interactive process where a neutral third party helps the parties to resolve the dispute using specialised communication and negotation techniques

41
Q

Arbitration

A

both sides agree beforehand to an independent third party’s intervention, investigation and judgement, and whether or not the outcome should be binding or non-binding

42
Q

Unfair Dismissals Act 1977-2015

A

outline when it is unfair for an employee to lose their job or be dismissed

43
Q

Redundancies

A

can be voluntary or compulsory. Some employees may choose to take voluntary redundancyig the pay package is attractive. However, if the employer requires employees to take compulsory redundancy this can lead to industrial dispute

44
Q

Constructive Dismissal

A

if an employee resigns from their job, with or without prior notice, due to the conduct of their eployer towards them

45
Q

Grievance Procdeure

A

a set structure for presenting and responding to any problems or conflict and includes a timeframe e.g. any letter sent by the employee outlining the issue is responded to within two weeks by the employer in writing

46
Q

Employment Equality Acts 1998-2015

A

outlaw discrimination in a wide range of employment and non-employment related areass, including recruitment and promotion, equal pay, working conditions, training or experience, dismissal or harrassment, including sexual harassment

47
Q

Discrimination

A

treating one person more favourably than another person has been or would be treated in a comparable situation under the nine grounds of discrimination

48
Q

Industrial Relations Act 1990

A

contains most of the law on trade disputes and industrial action and sets out the rules concerning industrial action

49
Q

Picketing

A

involves walking up and down peacefully outside the place of employment with signs displaying the workers’ issue with the employers

50
Q

Primary picketing

A

it is lawful for workers to picket peacefully at the place where their employer works or carries on business, provided it is for the purpose of peacefully communicating information

51
Q

Secondary Picketing

A

the picketing of an employer other than the one concerned in the dispute. This is legal only when it is reasonable for the picketing workers to believe that the second employer was acting to frustrate the industrial action by directly assisting their employer

52
Q

Work to rule/overtime ban

A

employees only work precisely as per their contract to the ‘letter of the law’ refusing to work extra hours (overtime) or perform non-contractual tasks

53
Q

‘Go slow’

A

employees stay at work but slow down the operations drastically, sometimes making it impossible for the business to function. As they are still at work, they are entitled to be paid

54
Q

Token stoppage

A

employees stop work for a short period of time, e.g. a one hour protest by gardaí or nurses

55
Q

Official Strike

A

a complete withdrawal of labour, organsied by unions in compliance with the law

56
Q

Workplace Relations Act 2015

A

merged the exiting five employment bodies into two, the Workplace Relations Commission (WRC) and the Labour Court

57
Q

Workplace Relations Commission (WRC)

A

deals with all workplace disputes, complaints and employment issues

58
Q

Labour Court

A

investigates industrial disputes and acts as a court pf appeal for the WRC

59
Q

Functions of WRC

A
  1. promote good industrial relations
  2. provide information and advice on employment rights and obligations
  3. encourage compliance with employment law and deal with complaints about breaches
  4. helps solve industrial disputes
60
Q

Services of WRC

A
  1. advisory
  2. conciliation
  3. mediation
  4. adjudication
  5. compliance/inspection
61
Q

Reasons for fair dismissal

A
  1. misconduct
  2. incompentence
  3. qualifications
  4. contravening the law
  5. redundancy
62
Q

Procedure for dismissal

A
  1. counselling
  2. verbal warning
  3. first written warning
  4. disciplinary action
  5. written copyof dismissal
63
Q

Functions of CCPC

A
  1. informs consumers of their rights
  2. personal finance information and education
  3. enforces consumer and competition protection laws
  4. refers to the Director of Public Prosecutions (DPP)
  5. advises the government
  6. enforces product safety regulations
  7. assesses mergers

Business (5 decks)

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