Legal Business and Environment Chapter 15

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Legal Business and Environment Chapter 15
2012-04-24 20:39:54
Legal Business Environment Chapter 15

Legal Business and Environment Chapter 15
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  1. Employment at Will
    a common law doctrine under which either party may terminate an employment relationship at any time for any reason, unless a contract specifies otherwise
  2. Agency
    a relationship between two parties in which one party (the agent) agrees to represent or act for the other (the principal)
  3. Fiduciary
    as a noun, a person having a duty created by his or her undertaking to act primarily for another's benefit in matters connected with the undertaking. As an adjective, a relationship founded on trust and confidence
  4. Independent Contractor
    one who works for, and receives payment from, an employer but whose working conditions and methods are not controlled by the employer. An independent contractor is not an employee but may be an agent
  5. Ratification
    the act of accepting and giving legal force to an obligation that previously was not enforceable
  6. Disclosed Principal
    a principal whose identity is known to a third party at the time the agent makes a contract with the third party
  7. Partially Disclosed Principal
    a principal whose identity is unknown by a third party, but the third party knows that the agent is or may be acting for a principal at the time the agent and the third party form a contract
  8. Undisclosed Principal
    a principal whose identity is unknown by a third person, and the third person has no knowledge that the agent is acting for a principal at the time the agent and the third person form a contract
  9. Respondeat Superior
    latin for "let the master respond." A doctrine under which a principal or an employer is held liable for the wrongful acts committed by agents or employees while acting within the course and scope of their agency or employment
  10. Vicarious Liability
    legal responsibility placed on one person for acts of another; indirect liability imposed on a supervisory party (such as an employer) for the actions of a subordinate (such as an employee) because of the relationship between the two parties
  11. Minimum Wage
    the lowest wage, either by government regulation or union contarct, that an employer may pay an hourly worker
  12. Workers' Compensation Laws
    state statutes establishing an administrative procedure for compensating workers for injuries that arise out of-or in the course of-their employment, regardless of fault
  13. Vesting
    the creation of an absolute or unconditional right or power
  14. I-9 Verification
    all employers in the United States must verify the employment eligibility and identity of newly hired workers by completing an I-9 Employment Eligibility Verification form within three business days
  15. I-551 Alien Registration Receipt
    the I-551 Alien Registration Receipt, commonly known as a "green card," is proof that a foreign-born individual is lawfully admitted for permanent residency in the United States. Persons seeking employment can prove to prospective employers that they are legally within the U.S by showing this receipt
  16. Cease-and-Desist Order
    an administrative or judicial order prohibiting a person or business firm from conducting activities that an agency or court has deemed illegal
  17. Closed Shop
    a firm that requires union membership as a condition of employment. The closed shop was made illegal by the Labor-Management Relations Act of 1942
  18. Union Shop
    a firm that requires all workers, once employed, to become union members within a specified period of time as a condition of their continued employment
  19. Right-to-Work Law
    a state law providing that employees may not be required to join a union as a condition of retaininig employment
  20. Authorization Card
    a card signed by an employee that gives a union permission to act on his or her behalf in negotiations with management
  21. Collective Bargaining
    the process by which labor and management the terms and conditions of employment, including working hours and workplace conditions
  22. Strike
    an action unertaken by unionized workers when collective bargaining fails. The workers leave their jobs, refuse to work, and (typically) picket the employer's workplace