Term
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Definition
the employer has the right to control the phyiscal conduct of the employee
--> an employee is often the agent of his employer |
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Term
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Definition
principal has no control over the details of the independent contractor conduct.
--> usually NOT an agent of the principal |
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Term
| EMployee vs. independent character |
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Definition
| If employer , ctonroles employee, indicates employee status. |
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Term
| Agency formation: Express |
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Definition
| authority is expressly given to the agent by the principal.... enforcement? principal and third party are bound to the contract |
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Term
| Agency Formation: Implied |
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Definition
| Authority is implied from the conduct of the parties, custom and usage of trade, or act incidental to carrying out the agents duties.... enforced by principal and third party are bound to the contract |
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Term
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Definition
| fiduciary duty not to act adversly to the intersts of the principal. ....undisclosed dual agency self dealing |
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Term
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Definition
| identity of the person whom are undisclosed agent represents |
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Term
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Definition
| employer held responsible for employees |
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Term
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Definition
| owner is actually the business, not a seperate legal entity most common form of biz |
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Term
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Definition
| oral/written/implied. ...partnership exists for more than 1 year or deals with real estate must be written in statue of frauds |
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Term
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Definition
| no federal taxes! individual taxes |
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Term
| indemnification of partners |
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Definition
| a sum of money paid in compensation loss or injury |
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Term
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Definition
| must have atleast one general partner and one limited partner |
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Term
| LLC members liable for how much? |
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Definition
| are liable debts up to the amount of their capital contribution |
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Term
| Sarbanes-Oxley Act of 2002 |
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Definition
· Only outside directors on audit committee.
· At least one financial expert.
· Audit committee oversees CPAs employed to audit company.
· Audit committee yearly assesses internal controls |
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Term
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Definition
| the owners of a partnership |
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Term
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Definition
| the owerners of a corporation |
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Term
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Definition
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Term
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Definition
· Act by a corporation that is beyond its express or implied powers.
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Term
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Definition
· Determination of whether duty was met measured at time decision made.
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Term
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Definition
· Opposing factions of shareholders may challenge management in a proxy contest.
· The side that receives greatest number of votes wins the proxy contest.
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Term
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Definition
· Issuers may raise capital from an unlimited number of accredited investors without registering the offering with the SEC.
Wealthy individuals (as defined), institutional investors such as banks or investment companies, or insiders of the issuers. |
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Term
| Franchise Disclosure Document |
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Definition
Most states use a uniform disclosure statement called the Uniform Franchise Offering Circular (UFOC).
· Many state statutes require franchisors to register and make specific presale disclosures to prospective franchisee.
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Term
| sexual harassment: quid pro quo and hostile-environment |
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Definition
· Lewd remarks, touching, intimidation, posting pinups, and other verbal or physical conduct of a sexual nature.
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Term
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Definition
· Act of negotiating contract terms between an employer and the members of a union.
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