Shared Flashcard Set

Details

Objective 7.01 Vocabulary
N/A
33
Business
10th Grade
05/03/2012

Additional Business Flashcards

 


 

Cards

Term
ADA
Definition
Americans with Disabilities Act—forbids discrimination on the basis of a physical or mental disability if the individual can perform “essential function” of the job.
Term
ADEA
Definition
Age Discrimination Employment Act—forbids discrimination against any person aged 40 or older in hiring, firing, promotion, or other aspect of employment.
Term
Agent
Definition
Represents another person in some sort of business transaction with another party.
Term
Child labor laws
Definition
Laws that control the work that children are permitted to do
Term
Collective bargaining agreement
Definition
Contract negotiated by employer and representatives
of the labor union.
Term
Disclaimer
Definition
A statement that regardless of provisions or policies in an employee handbook and regardless of any oral promises to the contrary, an employment-at-will situation still exists between the employer and its employee.
Term
Disparate impact
Definition
Occurs when an employer has a policy which on the surface seems neutral, but which has an unequal and unfair impact on members of a protected group.
Term
Disparate treatment
Definition
The employer intentionally discriminates against an individual or a group belonging to one of the categories protected by Title VII of the Civil Rights Act.
Term
Employee
Definition
The party who does the work
Term
Employer
Definition
The party who pays another party for work
Term
Employment-at-will
Definition
Either party may terminate employer-employee relationship at any time
Term
Express authority
Definition
Includes all the orders, commands, or directions a principal states to an agent when the agency relationship is first created
Term
Featherbedding
Definition
A payment for services not performed.
Term
Fiduciary
Definition
Relationship that is based on trust that exists between the agent and principal
Term
Gratuitous agent
Definition
A person who represents a person without being paid for it.
Term
Grievance procedure
Definition
A series of steps employees must take to appeal an employer’s decision.
Term
Implied contract
Definition
Usually involves an oral agreement that would ordinarily be covered by employment-at-will had the employer not said or done something that implies otherwise.
Term
Implied covenant
Definition
A promise that the employer and the employee will be fair in their dealings with each other
Term
Indemnification
Definition
repayment of the amount lost.
Term
Independent contractor
Definition
A person who is hired to perform a task for another person, but is not under the other person’s control.
Term
Loyalty
Definition
Faithfulness or acting in a party’s best interest at all times.
Term
Obedience
Definition
Agent must comply with all reasonable orders and instructions within th scope of the agency agreement.
Term
OSHA
Definition
Occupational Safety and Health Administration—an agency of the federal government that sets health and safety standards for most U.S. companies
Term
Principal
Definition
The person who is being represented by another person in some sort of business transaction.
Term
Proprietor
Definition
A person who chooses to have someone perform a task on his or her behalf, but who has no control over the way the task is carried out.
Term
Ratification
Definition
Occurs when benefits from an unauthorized act are accepted with full knowledge of the facts.
Term
Right-to-work laws
Definition
prohibits union shops.
Term
Special agent
Definition
An agent who is employed to accomplish a specific purpose.
Term
Subagent
Definition
An agent lawfully appointed by another agent.
Term
Title VII
Definition
Civil Rights Act of 1964—forbids discrimination based on sex, race, color, national origin, or religion.
Term
Trade secret
Definition
Inside information on a firm’s processes, products, or inventions.
Term
Unjust dismissal
Definition
Provides employees with grounds for legal action against employers who have treated them unfairly.
Term
Worker’s compensation
Definition
An insurance program that provides income for workers who are injured or who develop a disability or a disease as a result of their job.
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