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Definition
| involves 3 parties: drawer orders drawee to pay fixed amount of money to payee |
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| most common form of draft; must be drawn on a bank and payable on demand |
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| written promise by maker to pay the payee |
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| specialized form of note given by bank |
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Term
| Writing, Signed, Promise or Order to Pay, Unconditional, Fixed Amount, Payable in Money, Contain No Other Undertaking, Payable to Order or Bearer |
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Definition
| 9 Requirements of Negotiable Instruments |
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Term
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Definition
| an undertaking to pay; must be more than an acknowledgement of debt |
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| payable "to the order of" a named person |
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Term
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| payable to holder of the instrument |
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Term
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| may collect from the maker without regard to most defenses |
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Term
| Types of Proceedings: Chapter 7 |
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Definition
| Type of Proceedings: Liquidation for individuals or businesses |
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Term
| Types of Proceedings: Chapter 9 |
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Definition
| Type of Proceedings: Reorganization for government units |
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| Types of Proceedings: Chapter 11 |
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Definition
| Type of Proceedings: Reorganization for businesses |
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| Types of Proceedings: Chapter 12 |
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Definition
| Type of Proceedings: Reorganization for farms |
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Term
| Types of Proceedings: Chapter 13 |
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Definition
| Type of Proceedings: Wage Earner plan for individuals |
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Term
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Definition
| What begins jurisdiction in bankruptcy court? |
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Term
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Definition
| type of petition filed by debtor |
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Term
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Definition
| type of petition filed by creditor |
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Term
| Identification of debtor, identification of creditor, schedule of assets, schedule of debts |
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Definition
| Petition must include what information? |
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Term
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Definition
| prevents creditors from recovering on claims outside of bankruptcy court |
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Term
| 341 Meeting (meeting of creditors) |
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Definition
| meeting in which debtor must appear and answer questions about his petition and financial situation |
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Term
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Definition
| person who lends money; debt is owed to them |
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Term
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Definition
| person who has to repay debt owed to someone |
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Term
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Definition
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Term
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Definition
| relief from liability of debts |
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Term
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Definition
| When a bankruptcy case is filed, all legal and equitable interests of the debtor in nonexempt property become property of the _______ |
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Term
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Definition
| third party that supervises case |
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Term
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Definition
| any payment on debt not made in ordinary course of business within 90 days of filing the petition |
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Term
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Definition
| Transfer intended to hide or protect assets |
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Term
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Definition
| a law that regulates initial sales of new securities to the public |
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Term
| Securities Exchange Act of 1934 |
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Definition
| a law that regulates resales of securities of public companies |
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Term
| Sarbanes Oxley Act of 2002 |
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Definition
| post-Enron law designed to tighten accounting standards |
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Term
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Definition
| a signed writing by a shareholder authorizing a named person to vote her stock at a specified meeting of shareholders |
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Term
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Definition
| an invitation to shareholders to purchase their shares at a specified price for a specified time |
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Term
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Definition
| includes any stock, bond, note, pre-organization subscription, and investment contract |
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Term
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Definition
| any investment of money or property made in expectation of receiving a financial return solely from the efforts of others |
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Term
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Definition
| securities not subject to the registration requirements of the 1933 Act |
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Term
| Sherman Antitrust Act Section 1 |
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Definition
| prohibits all contracts, combinations, and conspiracies that restrain trade |
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Term
| Sherman Antitrust Act Section 2 |
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Definition
| prohibits monopolization, attempts to monopolize, & conspiracies to monopolize |
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Term
| Horizontal Restraints of Trade |
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Definition
| agreements among competitors at same level of chain of distribution |
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Term
| Vertical Restraints of Trade |
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Definition
| agreements among parties at different levels in the chain of distribution |
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Term
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Definition
| standard that balances the anti-competitive effects against the pro-competitive effects of the restraint |
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Term
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Definition
| conclusively presumed unreasonable and therefore illegal |
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Term
| Price Fixing, Market Allocation, Boycott, Tying Arrangement |
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Definition
| 4 Types of Per Se violations |
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Term
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Definition
| one company's acquisition of a competing company |
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Term
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Definition
| a company's acquisition of one of its suppliers or customers. |
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Term
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Definition
| Price discrimination – prohibits buyers from inducing or sellers from giving different prices to buyers of commodities of similar grade and quality |
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Term
| Federal Trade Commission Act |
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Definition
| prevents unfair methods of competition and unfair or deceptive practices |
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Term
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Definition
| relationship authorizing one party (the agent) to act for and on behalf of the other party (the principal) |
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Term
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Definition
| relationship in which the employer has the right to control the physical conduct of the employee |
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Term
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Definition
| a person who contracts with another to do a particular job and who is not subject to full control of the other |
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Term
| Duties of Agent to Principal |
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Definition
| Obedience, good conduct, diligence, inform, account, loyalty (fiduciary duty) |
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Term
| Duties of Principal to Agent |
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Definition
| Compensation, reimbursement, indemnification |
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Term
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Definition
| the principal must pay the agent for losses incurred while acting as directed by the principal |
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Term
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Definition
| principal whose existence and identity are known |
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Term
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Definition
| principal whose existence is known, but whose identity is not known |
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Term
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Definition
| principal whose existence and identity are not known |
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Term
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Definition
| power conferred upon agent by actual consent given by principal |
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Term
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Definition
| power conferred upon the agent by acts or conduct of the principal that reasonably lead a third party to believe that the agent has such power, even if it doesn’t |
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Term
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Definition
| approval by the principal of a prior unauthorized act that another has done as her agent |
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Term
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Definition
| an employer is liable for unauthorized torts committed by an employee in the scope of his employment |
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Term
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Definition
| the principle owes a duty to repay the agent for reasonable expenses incurred in the agency |
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Term
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Definition
| a party owes a duty to compensate another for expenses the other incurred due to its actions |
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Term
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Definition
| information that derives commercial value from being not generally known |
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Term
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Definition
| allows the owner of a trade secret to obtain damages or injunctive relief when the secret is misappropriated (wrongfully used) by an employee or a competitor |
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Term
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Definition
| Federal law that governs trade symbols, also called “marks” |
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Term
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Definition
| distinctive symbol, word, or design used to identify the manufacturer or product. ™ ® |
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Term
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Definition
| distinctive symbol, word, or design that is used to identify a provider's services. ® |
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Term
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Definition
| distinctive symbol, word, or design used with goods or services to certify specific characteristics. ® |
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Term
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Definition
| distinctive symbol used to indicate membership in an organization. ® |
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Definition
| any name used to identify a business, vocation, or occupation |
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Term
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Definition
| exclusive rights, usually for the author's life plus 70 years, to original works |
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Term
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Definition
| permit certain uses of a work upon payment of royalties |
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Term
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Definition
| use for purposes of criticism, comment, news reporting, teaching (including multiple copies for classroom use), scholarship, or research |
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Term
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Definition
| occurs when someone exercises the copyright owner's rights without authorization |
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Term
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Definition
| the exclusive right to an invention for twenty years from the date of application for utility, 14 years for design |
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Term
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Definition
| invention must be novel, useful, not obvious |
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Term
| National Labor Relations Act |
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Definition
| establishes a Federally protected right of employees to unionize and to negotiate |
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Term
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Definition
| Prohibit union shops (mandatory union membership) |
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Term
| Family and Medical Leave Act of 1993 |
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Definition
| grants employees leave for serious health conditions of the worker or family member, or for family leave (birth/adoption) |
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Term
| Worker Adjustment and Retraining Notification Act |
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Definition
| requires an employer to provide sixty days' advance notice of a plant closing or mass layoff |
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Term
| Title VII, Civil Rights Act of 1964 |
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Definition
| prohibits employment discrimination on the basis of race, color, gender, religion, or national origin, includes hiring, firing, promotion, compensation among others |
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Term
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Definition
| intentionally treating people in protected classes less favorably (disparate treatment) |
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Term
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Definition
| prohibits an employer from discriminating between employees on the basis of gender by paying unequal wages for equivalent work |
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Term
| Occupational Safety and Health Act (OSHA) |
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Definition
| enacted to assure workers of a safe and healthful work environment |
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