Business Exam 3

Who is one with a duty to act primarily for another person's benefit and is in a position of trust and confidence
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Who is one with a duty to act primarily for another person's benefit and is in a position of trust and confidence
Fiduciary
What is the doctrine that holds a principal may be liable for the intentional or negligent torts of his or her agent if such acts are committed within the scope of the agent's employment
Respondeat Superior (Latin phrase meaning "let the superior speak")
What is the name given for an agent that is hired by a principal to do a job, but is not controlled with respect to the details of work performance?
Independent Contractor
A power of attorney is an example of an ____________ agency.
Expressed agency
When a third party is unaware that an agent is acting on behalf of a principal, is the principal liable to the third party?
When a principal is an undisclosed principal in a transaction, the principal is not directly liable to the third-party
True/False: An important factor that influences a business manager's choice of organizational form is tax ramifications.
True
Under which corporate form does the owner have personal liability for all contract and tort liability of the business, as well as total control of the business?
Sole Proprietorship
Under which corporate form do the owners have personal liability for all contract and tort liability of the business, and also have an equal opportunity to participate in the management of the business?
General Partnership
A corporation held by a small group of people whose stock is not traded on national securities exchanges is a ______.
Closely Held Corporation
If a corporation is used improperly, how can a creditor seek to hold the owners personally liable and remove the corporation's limited liability?
Piercing the corporate veil
What is the kind of claim that can be brought when a person uses his or her property in a manner that unreasonably interferes with another's use and enjoyment of his or her land?NuisanceWhat is the primary approach for protecting the environment that is used today?Direct RegulationWhat agency enforces the Clean Water Act?The Environmental Protection Agency (with the help of local state agencies)What law holds potentially responsible parties (PRPs) liable for the cleanup of land contaminated by toxic and hazardous waste?Comprehensive Environmental Response, Compensation and Liability Act CERCLAWhat law regulates pesticides, like DDT?Federal Insecticide, Fungicide, and Rodenticide Act (FIFRA)What is the current federal minimum wage under the FLSA?$7.25 an hourAre Worker's Compensation Laws federal laws, or state laws?State lawsHow much time off does an employee get under the FMLA for the birth of a child?12 weeksCan an employer look at your publicly available Facebook page?Yes, as long as it is in the public domainIs random drug testing allowed if an employer does not have a written policy?NoWhat doctrine allows an employer to fire an employee at any time, with no notice, for almost any reason?Employment-at-Will DoctrineWhich law had as its primary purpose the goal to eliminate situations in which women, working alongside men or replacing men, would be paid lower wages for doing substantially the same jobThe Equal Pay ActWhat are the five protected classes under the Civil Rights Act?Color, Race, Religion, Sex, and National OriginMust sexual harassment cause psychological harm to be actionable?NoCan Race ever qualify as a BFOQ?NoWhat are the learned norms of a society based on values, beliefs, and attitudes?CultureWhat law prohibits US companies from offering or paying bribes to foreign government officials, political parties, candidates for office, to obtain business?The Foreign Corrupt Practices ActWhat kind of national legal system is the United States federal government?Common LawWhich of the following allows a government expropriating foreign-owned private property to claim that the jurisdiction of courts in the owner's country do not apply to it because it is a government rather than a private-sector entity?Sovereign Immunity DoctrineThe ________ holds that each nation is bound to respect the independence of every other sovereign state and that the courts of one nation will not sit in judgment on the acts of the courts of another nation.Act-of-State Doctrine