8/23/2018 Blaw 4 Flashcards | Quizlet

Blaw 4 72 terms taralewis7

disclosed principals agent who reveals that he or she is working for another
and who reveals the principal's identity

undisclosed principals whenever a third party reasonably believes that the agent
acts only on his or her behalf (doesn't know principal)

partially disclosed when a third party learns of the principal's existence but
not his or her identity

agents act in the place for another person

broker person employed for a commission to make contracts with

third persons on behalf of a principal

factors person who has possession and control of another's

personal property and is authorized to sell that property

general agent one who has authority to transact all business of principal
- of a particular kind or in a particular case

special agent authorized to act for principal only in a particular

transaction or in a particular way
- to accomplish a specific task

independent contractor person who exercises his or her independent judgement

on the means used to accomplish the result
- not an agent

power of attorney instrument authorizing another to act as one's agent or

attorney in fact

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attorney in fact person acting for another under a grant of special power
created by an instrument in writing
- agent named in power of attorney

fiduciary position of trust and confidence in relation to a person or

his or her property

duties of agency: -duty of loyalty

fiduciary -duty to protect confidential information
-duty of obedience
-duty to inform
-duty to not be negligent
-duty to account

duties of principal -duty to compensate (in general)

-duty to compensate (sales representative)
-duty to reimburse
-duty to indemnify

idemnity
Use literally "to save harmless"
Quizlet’s -one person agreeing to protect another against loss
activities
termination by -death
and
operation of law F LAS HCARD S
-insanity
LEARN MATCH
games to
-bankruptcy
make
-destruction or illegality of subject matter

termination by parties' -mutual agreement

actions -unilateral action

employment at-will legal doctrine that allows and employee to quit at any time
for any reason and allows an employer to terminate an
employee's employment

public policy exception employee is terminated for refusing to perform an action

that violates the law or for performing a legal act after
being told not to do so

good cause exception an exception to at-will employment that occurs where the
employer acts in such a manner that an implied contract to
terminate only for good cause is formed

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fair labor standards act a federal law that regulates child labor, minimum wage,
(FLSA) and overtime

exempt employees selected categories of employees who are not subject to

the overtime provisions of the FLSA

unlawful to discharge -refusing to act in violation of an established and well-

an employee for... defined public policy
- performing an act consistent with a clear and compelling
public policy

workers' compensation provides financial benefits to employees who are injured

while at work or to families who suffer the death of an
employee as a result of an illness or injury connected with
work

ancillary torts employers should exercise care in how they terminate an

employee in order to avoid tort liability for invasion of
privacy and for intentional infliction of emotional distress

disparate treatment type of discrimination that requires plaintiff to show the

presence of intentional discrimination

disparate impact type of discrimination that occurs when an employer uses

an employment practice that has an adverse impact on
members of a protected group

constructive discharge where the employer creates a work environment that is so

uncomfortable that a reasonable employee would quit

retaliation employer penalizes an employee when the employee

reports an illegal employment practice

equal pay act prohibits an employer from paying employees of one

gender less than employees of another gender for doing
substantially equal work

bona fide occupational attribute or trait of an employee associated with national

origin, religion, or gender that is necessary to the
employer's particular business

age discrimination act prohibits discrimination against employees that are at least
40 years of age

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quid pro quo occurs where sexual favors are exchanged for a benefit
connected to employment
-"this for that"

bankruptcy remedial system provided for by federal law

-administered system consisting of specialized courts,
government officials, and private persons

purpose of bankruptcy affords relief to the debtor by preserving and maximizing

the value of the debtor's assets

debtor who commences a case by filing a petition

creditor who receive notice and participate in asset proceeding

through the claims process

standing trustee who administers the assets of the estate

automatic stay petition operates as an "order for relief" causing the

automatic stay to come into effect

claim any right to payment, whether or not the right is liquidated

duty of loyalty -foundation of every agency relationship

-dual agency situation

duty to protect must protect principal's trade secrets

confidential information

duty to obey -agent must follow all reasonable instructions given by

instructions principal
- agent must not exceed the authority granted by principal
-seek best judgement if agent or principal is not available

duty to inform agents have the duty to give their principals all the
information that materially affects the principals' interest

duty not to be both parties have the legal duty to refrain from negligent
negligent acts

duty to account -an agent must account to the principal for any money the
agent has received from or for the principal
- an agent's duty to account is owed only to principal, not
to third parties

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duty to compensate (in - compensation of agents must be reasonable if an amount

general) is not stated in an agreement
-percentage of profits is calculated using GAAP

duty to compensate sales rep receives a commission only on sales solicited and
(sales representative) induced directly

duty to reimburse principal must reimburse agents who have expended

reasonable amounts on behalf of the principal

duty to indemnify -an agent is entitled to be indemnified when the agent

becomes liable to third parties while that agent was
following the principal's instructions

mutual agreement agency relationships can be terminated by the consent

principal and agent at any time

unilateral action the parties have the power of termination even if they lack
the legal right

statutory and judicial -federal and state legislation provides exceptions

exceptions to - state courts have fashioned two primary exceptions to
employment at will employment at will

privacy employees have little expectation of privacy in the

workplace

collective bargaining if a union is recognized it becomes the exclusive

bargaining representative for the employees in a particular
unit

job actions, strikes,and a union may institute a job action or strike, and
lockouts management may conduct a lockout of their employees

remedies -equitable relief and money damages are available under

title VII
-federal law caps the amount of damages for intentional
discrimination

property of the estate all the property interests of a debtor are used to create an
estate

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trustee and the estate - trustee must satisfy statutory prerequisites before he or
she is qualified
- trustee has the responsibly for preserving the estate for
the benefit of all creditors
- trustee must fulfill the administration duties with regard to
taxes and similar matters
-trustee is a fiduciary of the estate

roles of administrative exist at local, state, and federal levels

agencies

purposes of guard against overzealous members of the business

administrative agencies community, offer proficiency in needed areas of
government regulation, provide certainty to the public and
to those regulated, and supply information.

agency types and either executive or independent agencies

functions -possess three functional powers: rule making,
enforcement, and adjudication

rule-making - internal
-procedural
-interpretative
- legislative

formal rule making requires a report, a hearing, and a publication of the final
rule

investigative power inspections are a valuable enforcement tool since they

provide evidence as to whether a person or entity has
violated an administrative rule and evidence regarding
whether changes in the relevant set of administrative rules
are needed

enforcement function administrative agencies generally have the power to

subpoena individuals to testify and to supply information

constitutional the fifth amendment protection against self incrimination

protections provides modest protection during an administrative
agency investigation

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elementary aspects of administrative agencies performing the adjudicatory

adjudication function tend to adopt a trial like format for conducting a
hearing

formal adjudication -includes extensive investigation of facts

- an administrative law judge presides over formal hearings

de novo review occurs when a court decides it will disregard the agency's
determination and take a fresh look at the decision

substantial review an agency decision will be overturned only if the court

finds that the decision is unsupported by substantial
evidence

arbitrary and capricious test where a court will overrule a judge only if the decision
by the agency is irrational

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