Test Review 4

Card Set Information

Test Review 4
2013-04-21 22:53:19
FINA 2244

Chapter 14: Agency and the Employment Relationship Chapter 16: Employment Law and Labor Regulations Chapter 17: Employment Discrimination Chapter 19: Consumer Protection Chapter 21: Securities Regulations
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  1. Principal
    Creates authority in an agent
  2. Third Party
    Make a contract or are involved in a tort with the agent
  3. Actual Authority
    Principal sends signals to the agent to do something with a third party
  4. Implied Authority
    Principal's conduct or trade customs creates authority
  5. Ratification
    A principal accepts responsibility for acts of an agent going beyond his/her authority
  6. Agency by Estoppels
    • Actions of the principal lead others to believe an agency exists
    • The principal is estopped from denying the actions existence
  7. Apparent Authority
    Principal sends signals to the third party that what the agent does binds the principal
  8. Undisclosed Principals
    • When an agent is liable to a third party 
    • Agent may be indemnified by principal of agent acted within scope of his authority
  9. Negligent hiring or supervision
    Intentional torts committed by an employment who is not acting in the scope of employment
  10. Employment at Will
    Free market concept
  11. Employment at Will (Employers)
    Can and fire who you want
  12. Employment at Will (Employees)
    • May work at will of quit when they want
    • May sue for wrongful discharge under employment contract but must establish contract had limits to employers rights to discharge
  13. ERISA
    • Employee Retirement Income Security Act
    • Guarantees expectations of retirement plan participants 
    • Protects benefits after reasonable length of employment
  14. NLRB
    • National Labor Relations Board
    • Administrative agency created to monitor unfair labor practices and assure that union representation elections are fair
  15. Jurisdiction of NLRB
    • Labor dispute that "affects interstate commerce"
    • Unfair labor practices":  Actions that impede the goals of the NLRB
  16. Hearing for NLRB disputes
    • Before administrative law judge (ALJ)
    • ALJ is an employee of the NLRB
    • They issue an order that is final unless one party files an expection
  17. Steps of the EEOC
  18. First Step: Must file with a state or federal EEOC
    • Under federal law, within 180 (states usually extend to 300) days of alleged discrimination
    • Then EEOC notifies the employer of the cases and investigates the claim and hears both sides
  19. EEOC
    • (Equal Employment Opportunity Commission)
    • Amended by Lily Ledbetter Fair Pay Act of 2009
  20. If no settlement with the EEOC
    They inform the parties of the results of the investigation
  21. If EEOC finds merit with the complaint
    • It issues a right to sue letters to the employee  (in order to bring the action in federal court)
    • 75,000 complaint a year 
    • Takes about 1 year to resolve
    • Sometimes sues employer