115 terms

BUL3130 Final Exam

National Labor Relations Act (1935)
Was enacted by Congress in three major phases: Taft-Harley Act in 1947, Wagner Act 1935 and the Landrum-Griffin Act in 1959.
Environmental Protection Agency (EPA)
Created by congress; primarily responsible for four major external environmental problems: air pollution, water pollution, land pollution and pollution associated with certain products.
Endangered and threatened Species Habitat
Authorizes designation of critical habitat _ areas needed to preserve endangered species and calls for recovery plans for listed species. Under the ESA, no person may take, import, or conduct commercial activity with respect to any endangered species.
Occupational Safety and Health Act (OSHA)
Federal administrative agency, states that employers must provide employees a workplace "free from recognized hazards that are causing or likely to cause death or serious physical harm"
Civil Rights Act of 1991
limited rights of employees that sued employers for discrimination
Title VII of Civil Rights Acts of 1964
outlaws discrimination based on race, sex, color, religion, national origin
Worker's Compensation
state statutes that provide for awards to workers or their dependents if a worker incurs an injury or an illness in the course of employment. Under such laws the worker is freed from bringing a legal action to prove negligence to the employer.
Securities and Exchange Commission
an independent federal agency that oversees the exchange of securities to protect investors
Sarbanes Oxley Act of 2002
requires that the CEO and CFO of large companies that have publicly traded stock personally certify that financial reports made to the SEC comply with SEC rules and that info in the reports are accurate.
By laws
direct what the officers and employees of a company can do in operating the business (policy and procedure manual). They can easily be amended.
clayton act
stops early monopolies
robinson-patnum act
can not discriminate in price or have a price war and predatory pricing
security exchange act 1933
applies to all brand new offering of securities
security exchange act 1934
applied to existing companies at the time
red herring
is a fallacy in which an irrelevant topic is presented in order to divert attention from the original issue. The basic idea is to "win" an argument by leading attention away from the argument and to another topic.
A formal legal document, which is required by and filed with the Securities and Exchange Commission, that provides details about an investment offering for sale to the public. A prospectus should contain the facts that an investor needs to make an informed investment decision.
howey act
established security is investment of money in common enterprise with expectation of profit created by someone other than customer
Rule 10B5
This rule prohibits any act or omission resulting in fraud or deceit in connection with the purchase or sale of any security.
Right Sue Letter
given after investigation of violation of VII civil rights act 1964, must be obtained for EEOC by federal or state
Equal employment commission
is a U.S. law that applies to anyone working for the company located in the U.S. it also applies to a U.S citizen working for a U.S. corporation in a foreign country.
deals with effectiveness not safety
truth in lending act (TILA)
is a United States federal law and designed to protect Consumers in credit by requiring clear key terms of the lending arrangement and all costs. it applies if transactions is personal property or real property estate, must apply to $25,000 or less
usury law
are state laws that specify the maximum legal interest rate at which loans can be made.
Collective Bargaining
the process by which a union and an employer arrive at and enforce agreements regarding employment of workers represented by union.
Employee designated work area
boundaries that are considered the work environment
Electronic Signature (E-Sign)
A valid signature attached to or logically associated with a contract or other record and executed or adopted by a person with the intent to sign the record.
Cooling Off Rule
allows buyers in door-to-door sales with a value over $25 to void contract in writing within 3 business days.
Superfund 1980
the Act provides authority to clean up abandoned hazardous sites.
Force Majeure Clause
"Superior or irresistible force" Protects contracting parties from problems beyond their control.
Articles of Incorporation
i.e. Birth certificate all the information about the birth of the Corporation must be filed with the Secretary of State
Administrative Agencies (functions)
power and authority through legislative delegation. It delegates to an agency the power to perform its regulatory purpose, which is to formulate, implement, and enforce policy relevant to its area of authority.
Delegation doctrine
law preventing congress from transferring its legislative powers to another branch
Wagner Act 1935
private sector employers may not react to workers who create union, strike, or participate in collective bargaining
Taft-Hartley Act 1947
first major revision of Wagner Act, allows president to appoint a board of inquiry, all closed shops are illegal, no unions contributing to political campaigns, no jurisdictional strikes or secondary boycotts, unions must have majority of employees vote
Landrum Griffin Act 1959
protection of employees from corruption between employers and union officials by full financial disclosure of union funds, secret elections, and union worker bill of rights
Norris LaGuardia Act of 1932 (NLRA)
have full freedom of association, self-organization, and designation of representatives of his own choosing, to negotiate terms and conditions of his employment. This prohibits the federal court from issuing injunctions in nonviolent labor disputes also prohibits employers from requiring employees to sign "yellow dog contract "(not to join a union or risk of being fired if they do). enacted by the congress in 3 major phases
Occupational Safety and Health Administration
Independent Contractor
an independent contractor is not an employee, and the employer does not control the details of an independent contractor's performance. The contractor is usually not an agent
Express contract
employer and employee agree on employment for a certain time or that job security is provided
Implied contract
may restrict the grounds for termination or require specific procedure to be followed in dismissal
Contract law, the act of accepting responsibility for previous act that would not constitute an enforceable contractual obligation.
Implied ratification
takes place when the principal behaves as if he has the intent of ratifying an unauthorized agreement. It usually occurs when the principal accepts the benefits of the agreement.
Statue of frauds
If the contract between merchants under the common law for $5,000 or more, must be in writing to be enforceable
Statute of limitations
Sets maximum time periods from the occurrence of an event, during which certain actions can be brought or rights enforced. If an action is not filed before the time period, the statue bars the use
lanham act
is a piece of legislation that contains the federal statutes of trademark law in the United States. The Act prohibits a number of activities, including trademark infringement, trademark dilution, and false advertising.
cooling off laws
3 days to cancel $25 or more if bought from sellers non-permanent place of business trade dress= to prevent a consumer from buying one product under the belief that it is another
family farmer
50% income comes from farming
door to door sales
3 days to cancel purchase
• If personX who is hired by personP hires personA to help him/her with the hired task, personP is not liable for personA, but personX is
• If personP knows about it or hires personA to help personX, personP is liable
Actors in society
citizens, corporations, companies
Andrew Griffin Act
created bill for workers
Retaliatory discharge
a legal term for the punishment of an employee for engaging in a protected activity, such as filing a discrimination charge or opposing unlawful employer practices.
Anti-raiding covenant
can not bring employees of former employer to new employer
can't quit and work for a competitor
Chapter 7
A fresh start where the Court exonerates all debts and no debt is owed once the case is concluded. Available for people and businesses. Assets are subject to be taken by creditors.
- Federal court procedure in which debtors are able to eliminate most types of unsecured debt, often called the liquidation bankruptcy.
Chapter 11
For Businesses ONLY and allows for payment of debts over a period of time not to exceed 60 months. Debtor retains all asset.
- Under Chapter 11 a company restructures its business, usually by downsizing and narrowing focus. Typically involving reorganization that seeks to keep the organization in tact while seeking protection from creditors.
Chapter 13
Equivalent to Chapter 11 except it only applies to natural persons.
- This type of bankruptcy sets a payment plan between the borrower and the creditor monitored by the court. The homeowner can keep the property, but must make payments according to the court's terms within timeframe specified by statute of limitations.
Chapter 12
Applies to family farmers.
- [Wiki] Similar to Chapter 13 in structure, however it offers additional benefits to farmers and fishermen, in certain circumstances, beyond those available to ordinary U.S. wage earners. Chapter 12 is available only to family farmers and fishermen.
Respondeat Superior
- Rule of law imposing vicarious liability upon an innocent principal such that the employer as a liability holds the actions of employees accountable.
- Also called the "Master-Servant Rule". It is recognized in both common law and civil law jurisdictions. "Principle is liable for the acts of the agent". The Principle could have/should have known what the agent was capable of. DOES NOT APPLY to independent contractor relationship
Res Ipsa Loquitur
Common law doctrine, Injury based on defendant's negligence and therefore presumed at fault. "the thing speaks for itself". If you are in possession of a dangerous instrumentality you are responsible for any damages it causes.
Doctrine of Fusion
fusing together through the evidence the physical and mental aspects of the crime
Eminent Domain
the govt. cannot come and take real estate unless it's for public purpose and pays with just compensation.
Common law nuisance and trespass
are legal documents in the doctrine that allows you to sue since there is no law about the disturbing of your tranquility.
Intellectual property
property recognized at law that arises from mental processes, such as inventions and works of art.
1 year jail time, $1,000 fine
1+ years in prison, $1,000+ fine
is a formal accusation that a person has committed a crime. the serious criminal offence would be a felony
True Bill
the written decision of a Grand Jury (signed by the Grand Jury foreperson) that it has heard sufficient evidence from the prosecution to believe that an accused person probably committed a crime and should be indicted. Thus, the indictment is sent to the court.
No Bill
A grand jury's determination that there is not adequate evidence to indict someone.
Inchoate crimes
is the crime of preparing for or seeking to commit another crime. conspiracy, attempt, solicitation (has no mensrea)
Three types of torts
1) strict liability,
2) intentional,
3) negligence
Nolo contendre
it is a plea where the defendant neither admits nor disputes a charge, serving as an alternative to a pleading of guilty or not guilty.
Contributory negligence
It applies to cases where a plaintiff, Claimant has, through his own negligence, contributed to the harm he suffered.
Comparative negligence
is a partial legal defense that reduces the amount of damages that a plaintiff can recover in a negligence-based claim based upon the degree to which the plaintiff's own negligence contributed to cause the injury.
Express warranty
written warranty, TV demonstration creates warranty, ALWAYS an implied warranty
a right to enter land owned by you for a specific purpose
Quantum Meriut
Unjust enrichment of someone at the expense of another
Trade dress
trademark, how you style a product
A year and a day
what is the time limit before which you can file a patent for a product thats already out in the market?
Sole proprietor
one person opens a business
• all the profits and losses
• file a fictitious name statement if business name is not the same as your legal name
• sole proprietors file Chapter 7 Bankruptcy
Limited Liability Corporation (LLC)
must file a document like limited partnership
• create the Articles of Organization
• double taxation of profit and limited liability
General partnership
2 or more people engaged in business for profit
• create the Articles of Partnership
• contract s/b written UPA (Uniform Partnership Act)
• partnership can be sued or the individuals
• creditors can go after personal assets
• All participate in management decisions equally no matter how small or big the contribution to enter the partnership was
Limited partnership
must have 1 general partner; the others can be limited partners
• limited partners cannot be sued for more than what they've invested
• Example: If partnership caused damage to someone and the limited partner invested $10,000, cannot be sued more than $10k
• must file a certificate of limited partnership w/ Secretary of State for that state
• it can create a limited liability company
• not all partners have the right to participate in managerial decision
allows you to have just 1 person for all positions
• corporate veil: protects you from personal liabilities; protects the incorporator unless you do 2 things to be liable --- crime or fraud
6 elements of a legal binding contract
Intent - it is sometimes known as a mutual ascent. Can be proven by actions and words, evidence of intent can be seen by the totality of circumstances.
Capacity - affected by age, infirmity, medication, being drunk. Even if I am incapacitated in my mind if I have a lucid time I can contract. If I get married while being drunk I can void the contract. If I am underage I can contract necessities food shelter insurance.
Legal Subject Matter - the reason for the contract must be legal. Some states gambling, prostitution, drinking is not legal. The purpose for the contract must be legal
Acceptance - Follows Offer 99.5% of the time. It can be expressed or implied and oral or written. It can be merely acting in accord with the offer doing what is asked. Silence cannot be acceptance. Offer and acceptance are judged by the mirror image rule (offer and acceptance are the same).
2nd C - in ICLACO
Consideration - requires a fair value to be part of the bargain. It can be service for a service. It can be monetary payment for a service. It can be barter.
Offer - Without offer there will never be a contract. It can be oral or written, it can be expressed or implied, it can be interpreted by many actions or words.
Executed (bilateral) contract
2 sided
o All parties have fulfilled their promises or contract is fully performed
o Ex. Buy a book at the end of the semester
Executor (unilateral) Contract
1 sided
o Not complete
There is an offer and appearance of an acceptance but performance is
Parole evidence rule
o Tells us evidence can't be admitted in court if it contradicts with a contract
o Substantive common law in contract cases that implies any agreement made prior to the signing of contract that was not incorporated into the contract is barred upon signing by this rule in seeking to alter the terms of the contract.
o Exception
Since ICC is less strict than common/contract laws, oral testimonies CAN be used to explain customary trade dealings or the meaning of certain terms in UCC.
Caveat emptor
o Buyer beware, must visualize warnings of what's happening forseebility, warning signs of products
1st Amendment
o Freedoms, speech, religion, association not unlimited
o Hate speech, yelling fire in a crowded movie theatre is not protected
o Can not induce people to commit crimes, riots, property of personal injury
freedom of speech. Government will not touch your freedom of speech unless asked to judge by time, place, and manner. ***Ethics: community judges by what the court decides based on evidence they have.
Common Law crimes: MRS M. LAMB:
Rape ,
Sodomy ,
Mayhem (dismemberment) ,
Arson ,
Prima facie
the elements of a legal matter
Prima facie of Murder: take a life and malice afterthought
Prima facie of Slander: Spoken, a false lie, damages
Two elements in a crime
Mens rea- mental element of the crime. (mind)
Actus reus- physical element of the crime. (action)
Fusion= mensrae+actus rae
Fee simple absolute
o Total and complete ownership of realty (regardless of acquired debt)
o Can give it away, create an estate to give, or a lifetime estate (guest lecture-apple ex)
o Life estate
From the fee simple absolute owner that tells someone to live in their home until their life has ended and then the title is returned to the absolute owner
Estate pur autre vie
• Measured by the life of another person
Discovery rules
o Subpoena to inspect
o Subpoena to mental exam
o Subpoena to produce
o Subpoena to a document with request to admit or deny,
o Inarogitory- is a question must be answered in 30 days
Doctrine of supremacy
the constitution is the supreme law of the land * as well as federal law.
Article 1 section 8
Commerce clausee-interstate business
Article 1
Article 2
Article 3
Doctrine of separation of powers
L.E.J. cannot go into each others areas (example Shivo case)
• Bill of rights- the first 10 amendments
4th Amendment
probable cause. Senses of government agents to formulate an opinion of your actions based on his training. **probable cause has been reduced for government agents to reasonable suspicion-new legal standard. The law calls for probable cause when there is a arrest or search warrant is issued.
5th Amendment
silence. Immunity can be passed out and one has to answer question
Due process of law
notice of why government is acting and a time, place, and date for you to argue the case. *Due process for the 5th tells Federal government. While due process of the 14th tells State government. **UNLESS it is a emergency the government has to give you due process.
14th Amendment
equal protection (rights) for all
International Business
risks include, differences in currency, language, customs, laws
World Trade Organization
ended tariffs on 10 different products
a company exports a product at a price lower than the price it normally charges on its own home market