Checking, Employment and Labor Law
CHECKING:
Bouncing a Check
check written for an amount over the current balance held in the account
“bounces” due to insufficient funds, or not enough money in the account to cover the check written
overdraft protection
fee will be charged to the account holder
harm future opportunities for credit
Other Checking Components
Checking Account Register
Place to immediately record all monetary transactions for a checking account
written checks, ATM withdrawals, debit card purchases, deposits, and additional bank fees
Checkbook: contains the checks and the register to track monetary transactions
Routing Number: a nine-digit number used to identify a financial institution in a transaction
Negotiable Instrument (Commerical Paper): a writing drawn in a special form which can be transferred from person to person as a substitute for money or as an instrument of credit
Bank Endorsement
Signature on the back of a check to approve it to be deposited/cashed
a check MUST be endorsed to be deposited
anyone can deposit the check after it has been signed
Restrictive Endorsement: more secure than blank endorsement
Special Endorsement: the receiver signs and writes “pay to the order of ___”
allows checks to be transferred to a second party
EMPLOYMENT AND LABOR LAW
Employment “at will”
unless there is a contract, the employer can terminate an employment contract for any reason or no reason at all
the general will that an employer can fire an employee for any reason at any time
no protection on discriminatory practices
Creation of Employment Contracts
employment: a legal relationship based on a contract, performance-based
employee - does work for exchange of agreement
employer - pays for the work
employment law: division of law that governs the relationship between employer and employee
stems from forms of law: tort, criminal, contract, labor
independent contractor: self-employed, not subject to company control
aka 1099: files own taxes, pays quarterly taxes with an attorney based on income
provides own benefits
Express Agreement
detailed written/oral agreement
describes all elements of the employment relationship (hours, pay, benefits, responsibilities, etc.)
they specify the exact length of time employment will take place
benefits: guaranteed a time for payment, guaranteed “pay” level that is contractual to, guaranteed benefits
Implied Agreement
when an employer's personnel policies or handbooks indicate that an employee will not be fired except for good cause or specify a procedural process for firing
“open-ended” as to the time a person will have a job (no end time for employment)
a person can quit a job any time they want/be fired for any reason
benefits: “free agent” all the time, payment on day to day
detriments: no job security, hours are not guaranteed, benefits are solely based on hours
How does the law affect contracts?nhn
sets guidelines for all agreements
each state can be different
minimum wage rules, overtime rules, health insurance
federal law discrimination with 15+ employees
employee benefits with 50+ employees
Exceptions to At-Will Employment
Public Policy
employer cannot fire a worker for a reason that would violate basic social rights
jury duty
Implied Contract
Contract Term
Doctrine of Promissory Estoppel
Exceptions defined by statutes
Worker Adjustment and Retraining Notification (WARN)
Workers’ Compensation Insurance (Claim)
state-mandated insurance is provided to workers to defray the loss of income and cost of treatment due to work-related injuries or illness
construction worker followed laws
injury needs to be related to the work site
if yes, will receive workers’ compensation
barred from suing and receiving compensation in the future
if an employer wants to sue for loss of work and a compensation claim filed, they CANNOT
Constructive Discharge
wrongful discharge claim when an employee makes the decision to quit and there is no actual discharge by the employer
job is so miserable → impossible to succeed
involuntary act: occurs when an employee has no reasonable alternative but to terminate employment
test: employer made working conditions so intolerable that no reasonable person could be expected to endure
OSHA: Occupational Safety and Health Act
a government agency in the Department of Labor to maintain a safe and healthy work environment
establishes workplace safety standards that employers undertake specific precautions to ensure the workplace is free of hazards; permanent injury/death violators may be fined up to $7k per day
maritime, construction, food/services, manufacturing
Title VII Civil Rights Act
employment section
race, color, ethnicity, gender, marital status, national origin, religion
business necessity defense: An affirmative defense under Title VII of the Civil Rights Act. It is raised to disparate impact claims and asserts that a facially neutral but discriminatory policy is job related.
Discrimination
laws seek to prevent discrimination based on race, sex, sexual orientation, religion, national origin, physical disability, and age by employers - practices include bias in hiring, promotion, job assignment, termination, compensation, retaliation, and various types of harassment- laws consists of federal and state statutes
Bona Fide Occupational Qualification (BFOQ): an exception in employment law that permits sex, age, religion, and the like to be used when making employment decisions, but only if they are "reasonably necessary to the normal operation of that particular business." strictly monitored by the Equal Employment Opportunity Commission
Age Discrimination in Employment Act
prohibits discern workers over 40 years old
public or private employees 20+
Disabilities Act with Americans
public
private 15+
protects those with disabilities associated with physical/mental/history of/ regarded as having
relation to someone with a disability
Fair Labor Standards Act
1938 Act which provided for a minimum wage and restricted shipments of goods produced with child labor
aka wage and hour act
not salary
does not apply to minimum wage or overtime pay of professional workers
prohibits apprehensive child labor
Immigration Reform and Control Act of 1986
illegal to hire an illegal immigrant who doesn’t have authorization to work in the US
employees are subject to fines, convictions, and arrests
state by state law regarding allowing employers to hire
Family and Medical Leave Act
Federal law requires organizations with 50 or more employees to provide up to 12 weeks of unpaid leave after childbirth or adoption; to care for a seriously ill family member or an employee's serious illness; or to take care of urgent needs that arise when a spouse, child, or parent in the National Guard or Reserve is called to active duty
allows eligible employees with unpaid, job-protected leave (12 weeks) for certain family or medical conditions
job has to be available when the employee returns to work
job reinstatement, compensatory damages, protection if FMLA is disobeyed by the employer
Harassment
a form of employment discrimination that violates Title VII of the Civil Rights Act of 1964, the Age Discrimination Employment Act of 1967, and the Americans with Disabilities Act of 1990
repeated behavior that torments, troubles, worries, humiliates, and/or threatens another
sexual harassment/quid pro quo: employment outcomes depend on whether an individual submits to sexual harassment
doing something in exchange for something else; abuse of power
hostile work environment: a form of sexual harassment deriving from off-color jokes, lewd comments, and so forth
Medicare: A federal program of health insurance for persons 65 years of age and older, and some under 65 years with certain disabilities/conditions
Medicaid: A federal and state assistance program that pays for health care services for people who cannot afford them
FICA
US payroll tax levied on both employers and employees to pay for Social Security and medical programs
FICA taxes: Based on the Federal Insurance Contributions Act; tax withheld from employees' paychecks and matched by employers for Social Security and Medicare
Social Security
the federal program of disability and retirement benefits that cover most working people
source of income when you retire or if you cannot work due to disability or retirement
Disparate-Impact: occurs when a protected group of people is adversely affected by an employer's practices, procedures, or tests, even though they do not appear to be discriminatory
Just Cause: One of the parties to the contract did not perform what it was expected to do under the terms of the contract
Duty Of Employees
Duty of Reasonable Performance: requires the employee to perform assigned duties at the prescribed time and in the prescribed manner
Duty of Obedience: requires the employee to follow the reasonable orders and rules of the employer; requires agent to carefully obey the instructions of the principal
Duty of Reasonable Skill: requires that those who accept work possess the skill, experience, or knowledge necessary to do it