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Q4
| Term | Definition |
|---|---|
| Nominal damages | if they win, they can get attorney fees paid |
| Respondeat Superior / Vicarious Liability | boss and business pays for the behavior of employees, was the employee acting in the scope of employment |
| Ultra vires | when an agent acts outside of their authority |
| Economic realities Test | Permanence of working relationship Degree of skill entailed Extent of workers investment in equipment Worker’s opportunity for profit or loss Degree of employer’s alleged control Whether the service rendered is integral part of employers business |
| FLSA | fair labor service act, sets work week, overtime rules, etc |
| Title seven | of the civil rights act, illegal to discriminate against people for race, color, sex, religion, later extended to lgbt, can be added to on a state by state basis |
| Quid pro quo | do X sexual thing for me to get a promotion Hostile work environment: pervasive sexual harassment, verbal or physical, interferes with work |
| General partnership | inferred, writing, oral, no required paperwork, state assumes 50/50 unless in writing otherwise, liability extends to both partners, including torts, partners are both agents and principles |
| Limited partnership | general partners and limited partner, at least one general |
| Partnership by estoppel | someone presents themself as a partner and if someone suffers harm based on that, then they’re treated as a parter |
| Corporation: | artificial person, same rights as a person, has to have board of directors, owned by stockholders, board of directors hires the management, duty to make money |
| Corporate veil pierced | two part test, fraud or injustice, single economic unit with no proper directors or shareholders |
| Clawbacks | take back bonus or stock option based on information that was later found to be false |
| Business judgment rule | can’t look back and judge based on future judgment, have to assess what happened back then and if it was reasonable at the time |
| S-corporation | with limited number of shareholders, only can be us citizens, tax benefits |
| Benefit corporation | write more goals in charter, not solely about making a profit but also about a benefit like environmentally friendly |
Created by:
mara1
Popular American Government sets