Business & Funeral Law 3

Bailment

The delivery and transfer of the possession, but not the ownership, of personal property to another person by agreement.

Bailor

The person who delivers and gives up possession, but not title, of the personal property.

Bailee

The person who receives possession and control over the personal property, but not ownership.

Delivery, acceptance, purpose, temporary

What are the 4 conditions of bailments?

Only benefits bailor, only benefits bailee, mutually benefits both parties

Which 3 distinctions influence the expected duty of care for the parties in a bailment?

Gratuitous bailments

Bailments for the sole benefit of the bailor are often called what?

Service agreement bailments

Bailments for the benefit for both the bailor and the bailee are called what?

Constructive bailments

Bailments for the sole benefit of the bailee are often called what?

Extraordinary bailment

Occurs when bailees are charged with a piece of property under strict liability.

Absolute liability

Strict liability is also known as what?

Actual delivery and acceptance

The goods are delivered and accepted.

Constructive delivery and acceptance

Control over the goods is delivered and accepted. Can also occur when the property of one person is washed ashore.

Instrument

A legal document that defines rights and duties.

Drafts and notes

What are 2 negotiable instruments?

Negotional instrument

An unconditional promise that guarantees the payment of specified amount of money.

Draft

A negotiable instrument ordering a payment to be made when presented.

Promissory note

A promise to pay later or over time.

Negotiable

Capable of being transferred by endorsement and delivery.

Pay to the order of

For a document to be a negotiable instrument, it must contain what words?

Endorsement

A signature.

Special endorsement

If the name of the person follows “pay to the order of”, the money must be paid only to that person.

Blank endorsement

If “pay to the order of” is not followed by a name, it is a what?

Restrictive endorsement

Allows for the transfer of the document or the money it represents for specific purposes.

Employment law

Derives from acts passed by Congress, state legislatures, and local governing bodies.

Equal employment, total rewards, employee health and safety, labor relations

Employment laws can be categorized in what 4 areas?

Equal Employment Opportunity laws

Prohibits specific types of job discrimination in the workplace.

Equal Employment Opportunity Commission

Who is responsible for developing guidelines and overseeing compliance with most anti-discrimination laws?

Office of Federal Contract Compliance Programs

Who is responsible for the same activities relative to executive orders and works in the federal government?

Disparate treatment, disparate impact, harassment, retaliation

Discriminatory practices can be grouped under one of what 4 categories?

Total rewards

The administration of employee compensation.

Fair Labor Standards Act

Establishes standards for minimum wage, overtime pay, record keeping, and child labor.

Workplace safety law

Consists of federal and state regulations imposed on businesses in an effort to keep employees safe from harm.

OSHA

What is the federal agency responsible for protecting the health and safety of workers?

Workers compensation law

A system of rules in every state designed to pay the expenses of employees who are harmed while performing job-related duties.

Labor relations

Maintain relationships with employees organized by labor unions.

Lease

A legal, binding contract outlining the terms under which one party agrees to rent property owned by another party.

Chattel

Refers to moveable personal property, separate from real estate, and includes items such as vehicles and furniture.

Lien

A legal claim or right against a property that allows a creditor to secure the repayment of a debt.

IOU

A written, informal document acknowledging a debt owed by one party to another.

Secondary market

Allows investors to buy and sell securities among themselves, not from the issuing company.

Money orders

Similar to checks but may or may not be issued by the payer’s financial institution.

Traveler’s checks

Require two signatures to complete a transaction. Generally used when someone is traveling to a foreign country and is looking for a payment method providing another level of security against theft or fraud.

Drafts and checks

An order to pay covers what?

Promissory notes and CDs

A promise to pay covers what?

Independent contractor

One who contracts to do jobs and is controlled only by the contract as to how performance is to be rendered.

Salary

Generally considered to be compensation for managerial or administrative services expressed in terms of a month or year.

W-2 form

Wage and tax statement; a report furnished by the employer for each employee indicating gross earnings and deductions.

Wage

A form of compensation usually for skilled and unskilled labor expressed in terms of hours, weeks or pieces completed.

35-40

Employers define a full-time employee as someone who works how many hours in a seven-day workweek?

At-will employment

Provides for an employer to terminate an employee at any time for any reason, and an employee to terminate their employment at any time for any reason.

Civil Rights Act

Prevents a discharge due to race, color, religion, sex, or national origin.

Fair Labor Standards Act

Establishes minimum wage, overtime pay, record keeping, and child labor standards affecting full-time and part-time workers in the private sector. Prohibits firing an employee who complains an employer has violated wage and hour provisions of the Act.

Union contracts

Collective bargaining between an employer and a large number of employers for wages, hours, rights, and benefits, as well as the length of the contract.

Vicarious liability

Liability that a supervisory party bears for the actionable conduct of a subordinate or associate based on the relationship between the two parties.

Respondeat superior

Employers are vicariously liable for injuries or property damage caused by their employees when acting within the scope of their employment.

Internal Revenue Service

Publishes criteria to aid employers in determining whether a worker is an employee or independent contractor, and recognizes to determine such status depends on the facts of each situation.

$7.25

Currently, what is the federal minimum wage per hour?

Age Discrimination in Employment Act

This act protects certain applicants and employees 40 years of age and older from discrimination on the basis of age in hiring, promotion, discharge, compensation, or terms, conditions, and privileges of employment.

Americans with Disabilities Act

This act prohibits discrimination against the disabled in employment, public transportation, telecommunication services, and public accommodations and services.

Family and Medical Leave Act

This act entitles eligible employees of covered employers to take unpaid, job-protected leave for specified family and medical reasons.

Patient Protection and Affordable Care Act

This act increased health insurance coverage for the uninsured and implemented reforms to the health insurance market.

Health Insurance Portability and Accountability Act

This act, known informally as the Privacy Rule, establishes national standards to protect an individual’s medical records and other personal health information.

Direct liability

The employer is liable because of its own acts and commissions. (Negligent hiring, retention, or supervision)

Specific duty standards

Standards that apply to specific types of work, procedures, work conditions, and equipment.

General duty standards

Standards that apply to all employers and that impose a duty to protect workers from known hazards.

Workers’ Compensation Acts

Helps employees claim compensation for injuries that occur on the job.

Workers’ Compensation Agency

Established at the state level to provide judicial and administrative services to help in the resolution of claims for compensation.

Exclusive remedy

Workers’ compensation is understood to be a what?

Child labor, minimum wage, overtime pay

What are the three main categories covered in the Fair Labor Standards Act?

14

According to FLSA, the minimum age for non-agricultural work is what?

40

Employees who work more than how many hours should receive overtime pay?

Consolidated Omnibus Budget Reconciliation Act

Mandates that employees who are terminated must be provided with the opportunity to continue to participate in group health insurance, so long as they agree to pay the group rate premium.

Employee Retirement Income Security Act

Covers any pension plan offered by employers to their workers and is designed to prevent abuses and fraudulent use of those plans.

Unemployment compensation

Aid to those who become temporarily unemployed and are funded by employers through employment taxes.

Immigration Reform and Control Act

Under this act, employers are required to examine evidence of employees’ identity and complete mandatory paperwork for each employee.

Disparate treatment

The employee believes that he or she has been discriminated against on the basis of one of the protected classes set out in CRA.

Disparate impact

Cases of unintentional discrimination.

Quid pro quo

Occurs when a manager makes a sexual demand on a worker, and this demand is perceived as a condition of employment.

The Bona Fide Occupational Qualification Defense

Using this defense, the employer can discriminate if it is deemed to be necessary for the performance of the job.

The Merit Defense

This defense is used when decisions pertaining to hiring or promotion are made on the basis of the results of test scores.

The Seniority Defense System

This defense occurs when employees are given preferential treatment because of their length of tenure.

Agent

The party appointed by the principal to enter into a contract with a third party on behalf of the principal.

Apparent authority

The authority an agent is believed by third parties to have because of the principal’s behavior.

Authority

The power to act for someone else.

Durable power of attorney

A power of attorney that remains in effect after the disability or incapacity of the principal.

Express authority

Authority of an agent, stated in the agreement creating the agency.

General agent

One who is given broad authority to conduct the principal’s business.

General power of attorney

A written instrument granting the agent broad powers to act for the principal.

Implied authority

An agent’s authority to do things in order to carry out express authority.

Indemnification

A legal agreement by one party to hold another party not liable for potential losses or damages.

Power of attorney

An instrument granting someone authority to act as an agent or attorney-in-fact for the principal.

Principal

A party who appoints another to serve as an agent.

Special agent

One authorized by the principal to execute specific acts.

Springing power of attorney

A written instrument authorizing one person to act as an agent for another effective only upon a certain event occurring.

By agreement

The most common way of creating an agency.

Estoppel

A legal principle that prevents someone from arguing something or asserting a right that contradicts what they previously said or agreed to by law.

Equal Dignity Rule

Provides the agent’s authority must also be in writing.