FBLA BLAW STUDYING.

Securities Exchange Act of 1934

governs the secondary market—trading between investors—to ensure fairness, transparency, and less fraud. It created the Securities and Exchange Commission (SEC),

Pacta sunt servanda

“agreements must be kept” - The rule is officially codified in Article 26 of the Vienna Convention on the Law of Treaties (VCLT), which mandates both the binding nature of treaties and the requirement of good faith

Securities Act of 1933

issuers selling securities to the public disclose material information, and that any securities transactions are not based on fraudulent information or practices. The goal is to provide investors with accurate information so that they can make informed investment decisions.

trade embargo

government-imposed restriction on the trading of certain products, goods or services. It restricts people and companies from buying and selling with the affected country or entity, potentially interrupting international commerce between two entities

ADEA

employer with >=20 workers can’t fire, not promote, reduce opportunities for ppl >=40 and can’t require them to retire at a certain age (unnless like airline pilot, police officer, etc.)

no hostile work environment allowed, and for Bona Fide Occupational Qualification they tiene que show that the age limit is reas. necess., virtually everyone that age is unqualified, and age is the only way to determine who is qualified

FMLA

guarantees all employees up to 12 wks unpaid leave each year for childbirth, adoption, or serious health condition for themselves, spouse, child, or parent

New York Convention 1958

United Nations treaty that requires courts in 170+ member states to recognize and enforce valid arbitration agreements and arbitral awards made in other foreign countries

embargo

tools used by governments, groups of nations and international organisations to apply economic sanctions (things to discourage a country from doing something), can include financial (freeze assets), travel restrictions, media

statute

law created by a legislature

bill

proposal for a new law

common law

judge made law

stare decisis

“let the decision stand” meaning that precedent is binding on later cases (only on lower courts)

administrative law

agencies can create laws called regulations

treaties (how are they ratified)

the president can enter treaties but must be ratified by 2/3 vote in Senate

legal positivism

the law is what the sovereign says it is.

natural law

an unjust law is no law at all (no need to obey)

legal realism

what matters is who enforces the law and by what process

bystander case (do i need to help?)

no duty to assist some1 in peril unless i created the peril (EXCEPT FOR relationships where one party is more powerful than the other like therapist to patient)

enabling legislation

congress creates a federal agency by passing this

subpoena

an order to appear at a particular place & time

subpoena duces tecum

requires some1 to produce certain docs or things

Administrative Procedure Act

governs rulemaking & adjudication in administrative law

absolute vs qualified privilege

absolute - witness in a case can never be sued for defamation

qualified - ppl who have a legitimate need for info and share it in good faith have a defense against defamation

single recovery principle

requires a court to settle the matter once and for all by awarding a lump sum for past and future expenses

subject matter jurisdiction

the court has to be allowed to hear that type of case (can’t be waived)

personal jurisdiction

the court is only allowed to give a binding decision if they have jurisdiction over that person, which they get by being the court in the area they live in or lo que sea

original vs appellate jurisdiction

original is like the authority to hear the case for the first time; a[pellate is like the authority of higher courts to review the case from lower courts

Which form of business ownership combines pass-through taxation with limited liability?

LLC

general parternship

All partners share equal liability and management

corporate bylaws

governs the internal management of a corporation

specific performance

as a remedy for contracts, u have to do exactly what the contract said u were supposed to do - u can’t just pay compensatory damages

truth in lending act

requires disclosure of credit terms and costs

lemon law

protects ppl who purchase faulty vehicles