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What is the definition of 'Agency'?
A relationship where one person (the agent) is authorized to act on behalf of another person (the principal).
What are the two essential characteristics of any agency relationship?
1. Mutual consent; 2. Agreement/delegation of the power to act.
What is 'Agency by Ratification'?
When a person acts as an agent without actual authority, but the principal later accepts or 'ratifies' the unauthorized act.
What does 'Respondeat Superior' mean in a legal context?
A form of vicarious liability where the principal/employer is liable for the torts of an agent/employee committed within the scope of their authority.
What are the four primary duties a Principal owes to an Agent?
1. Duty to Compensate; 2. Duty to Reimburse; 3. Duty to Indemnify; 4. Duty to Cooperate.
What does the Agent's 'Duty of Loyalty' prohibit?
Self-dealing, usurping opportunities, competing with the principal, and misuse of the principal's information.
Under what condition is an agent not liable for a contract they executed?
When the agency is 'Fully Disclosed'—meaning the third party knows the agent is acting for a principal and knows that principal's identity.
What is the 'Just Cause' concept in employment?
It is a standard typically found in collective bargaining agreements for unionized employees that limits an employer's power to terminate.
What is the 'Exclusive Remedy' for an injured worker under Workers' Compensation?
The worker cannot sue their employer in tort for job-related injuries; they must recover through the Workers' Comp system.
How is a General Partnership defined?
A voluntary association of two or more 'persons' (individuals or entities) carrying on a business as co-owners for a profit.
What happens to a Limited Partner if they exercise 'too much' management authority?
They may lose their limited liability status and be deemed a general partner.
What is the current federal minimum wage under the FLSA?
$7.25 per hour.
How many weeks of unpaid leave does the FMLA guarantee?
Up to 12 weeks during any 12-month period for qualifying reasons (e.g., birth of a child, serious health condition).
What are the two requirements for an employee to qualify for FMLA?
1. Must have worked for the employer for at least 1 year; 2. Must have worked at least 1,250 hours during the previous 12 months.