Shared Flashcard Set

Details

UWO BUS 320 LAW Exam 2 Hagen
Oshkosh Essentials of Law Hagen
52
Business
Undergraduate 3
04/10/2012

Additional Business Flashcards

 


 

Cards

Term
Strict Liability
Definition
Where liability is imposed on a party regardless of their fault (workers comp)
Term
Basic Rule
Definition
Every person is liable for the torts they commit
Term
Fair Labor Standards Act
Definition
Establishes minimum wage, overtime and child labor restrictions
Term
Vesting
Definition
Employee has legal right to receive pension benefits
Term
Family and Medical Leave Act
Definition
Provides employees with up to 12 weeks and unpaid leave for child birth, adoption, serious illness, or care of family member

Company must have 50+ emloyees or is the gov.

Employee must have worked 12 mo. or part time for 1,250 hours
Term
Occupational Safety and Health Administration
Definition
OSHA
Term
Civil Rights Act of 1866
Definition
Prohibits discrimination on the basis of race when entering into a contract
Term
Civil Rights Act of 1964 - Title 7
Definition
Prohibits discrimination in employment on the basis of race, color, national origin, religion, and sex
Term
Disparate Treatment
Definition
Where employer intentionally discriminates against applicant or employee
Term
Disparate Impact
Definition
Where the consequences of the job requirement is discriminatory (GPA, Test scores)
Term
Prima Facia
Definition
Shows their class is significantly underrepresented in the employers' workforce
Term
Bona Fide Occupational Qualifications (BFOQ)
Definition
National origin, religion, sex, or age are needed for position (Race can never be one)
Term
Legal Aliens
Definition
OK to discriminate but OK to hire
Term
Illegal Aliens
Definition
Must discriminate, illegal to hire
Term
Age Discrimination
Definition
Cannot discriminate on people over 40 years old
Term
Defense, Employee theft, Drug Companies, Security jobs
Definition
Polygraph tests illegal except for?
Term
At Will Doctrine
Definition
General rule of employment - employer or employee can end the employement at any time unless it has to do with Legislation or Contracts.
Term
Clayton Act Section 2 Robinson Patron Act
Definition
Price Discrimination-
Companies in volved in interstate commerce, different prices to diff. buyers, goods of like grade or quality, or effect is to lessen competition
Term
Clayton Act Section 3
Definition
Exclusive dealer agreements - tying contracts are illegal unless parts must be functionally integrated
Term
Clayton Act Section 5
Definition
Interlocking board of directors - Can't be on board of directors of 2 competing companies
Term
Clayton Act Section 7
Definition
Prohibits companies from buying stock or assets of companies under certain economic conditions
Term
Security
Definition
Any stocks, bonds, investment contracts
Term
Registration Statement
Definition
Document containing all material information relevant to investing in the security

Waiting period of 20 days before securities can be sold
Term
Tombstone Ad
Definition
Written ad to inform public of address
Term
Red Herring Prospectus
Definition
Preliminary version of prospectus (warning label saying its contingent on final approval)
Term
Exemptions from Registration
Definition
Closely held Companies - small
Private Placement
Small Offering - up to $5 million
Intrastate Offering - restricted to residents of state
Term
Due Diligence Defense
Definition
Person used teh degree of prudence or care by reasonable person under similar circumstances
Term
Causation Defense
Definition
The damages sustained by the plaintiff resulted from something other than a false statement
Term
Statute of Limitations Defense
Definition
Length of time someone has to sue
Term
Short Swing Profits
Definition
Profits made by an insider on company securities within a 6 mo. period
Insider: officer, director, or 10% SH
Term
Tender Offer
Definition
Where an acquierer offers to buy shares of a target company for a price above market share.

-If greater than or equal to 5% of company, must file with SEC within 10 days
Term
Proxy Statement
Definition
Describes the purpose of the vote
Term
Proxy Form
Definition
Written authorization by the shareholder to another party to cast a vote
Term
Securities Investor Protection Act
Definition
Provide insurance against brokerage firm failure
Term
Market Reform Act
Definition
Limits program trading (using computers) and allows SEC to suspend trading if sudden large decline in stock prices
Term
Prosecutor
Definition
Attorney who brings criminal case on behalf of government (called district attorney in WI)
Term
Actus Reus - guilty act
Mens Rea - guilty mind
Definition
Two elements that must occur at same time to be a crime?
Term
General Intent
Definition
Only the defendant has an awareness of the factors of the crime - must prove they acted voluntarily (battery, traffic offense)
Term
Specific Intention
Definition
1st degree murder, assault, robbery, embezzlement
Term
Criminal Negligence
Definition
Behavior that shows gross lack of care (3rd degree murder, involuntary manslaughter)
Term
Strict Liability Crimes
Definition
Crimainl liability is imposed automatically because of the existence of certain facts (felony murder, regulations - hard hats)
Term
Larceny
Definition
Any taking of property with the intent to depreive the owner of it permantently
Term
Embezzlement
Definition
Taking or conversion of property where the wrong doer has acquired lawful possession
Term
Burglary
Definition
Any unlawful entry into any structure or vehicle for the purpose of committing another felony
Term
False Pretenses
Definition
involves the use of a materially false statement to deprive another person of their property
Term
Commercial Bribery
Definition
Kickback or payoff made to employee of company for a wrongful purpose
Term
Racketeer Influence and Corruption Organization Act (RICO)
Definition
Drug dealing, arson, robbery, mail fraud, bankruptcy fraud -- doing it twice within a 10 year period; they go to federal prison
Term
Miranda Warnings
Definition
Where an accused is subject to a custodial interrogation - then must be read their rights
Term
Preliminary Hearing
Definition
Court procedure where the judge determines if there's probably cause to determine if a crime was committed and the accused committed it
Term
Hung Jury
Definition
Where the members cannot come to a unanimous vote
Term
Insanity-
McNaughton Test
Definition
Accused proved they are incapable of knowing right from wrong at the time of the crime
Term
Entrapment
Definition
Officer induces a person to commit a crime that wasn't alreaady contemplated
(cop creates crime)
Supporting users have an ad free experience!