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Employment at will

A common law doctrine under which either party may terminate an employment relationship at any time for any reason, unless a contract specifies otherwise.

Collective Bargaining

Process by which a union representing a group of workers negotiates with management for a contract


An organization of employees formed to bargain with the employer

Unemployment Insurance

A joint state-federal program under which state-administered funds pay a weekly benefit for a limited time to eligible workers when they are involuntarily unemployed.

Worker's Compensation

A form of insurance paid by the employer providing cash benefits to workers injured or disabled in the course of employment.

Social Security

An act passed in 1935 gave government-payed pensions to American citizens over the age 65 as well as provided help for the unemployed, the disabled, and the needy.

National Labor Relations Act

Guarantees workers the right of collective bargaining, sets down rules to protect unions and organizers, and regulates labor-management relations (AKA Wagner Act)

Fair Credit Reporting Act

A federal law that established procedures that consumer-reporting agencies must follow in order to ensure that records are confidential, accurate, relevant and properly used.

Fair Credit Billing Act

Requires creditors to correct billing mistakes promptly.

Consumer Credit Protection Act

(1968) Requires lenders to fully inform consumers about all costs of credit purchases before an agreement is signed

Sherman Antitrust Act

An 1890 law that banned the formation of trusts and monopolies in the United States. Later Revised by the Clayton Act.

Yellow-dog contract

Contracts some employers forced workers to sign that made the workers promise not to join a union

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