LAW 231 UNIT 5
government in the sunshine act
-Open meeting law -Requires that "every portion of every meeting of an agency" be open to "public observation"
monopolization
-possession of monopoly power in the relevant market -willful acquisition or maintenance of the power
differences between section 1 and 2
-section one requires two or more persons to conspire to restrain trade -section 2 applies to one person obtaining monopoly power
closed meetings acceptable in sunshine act if...
-the subject of the meeting concerns accusing any person of a crime -the meeting would frustrate implementation of future agency actions
periodic tenancy
A lease interest in land for an indefinite period involving payment of rent at fixed intervals, such as week to week, month to month, or year to year.
monopoly
A market in which there is a single seller or very limited number of sellers
maximum achievable control technology
A performance standard used by the EPA to control emissions of hazardous air pollutants.
variances
A request by a property owner to use the land in a manner not permitted by zoning rules
tenancy at sufferance
A tenancy which is created when one is in wrongful possession of realty, even though the original possession may have been legal.
fair credit reporting act (FCRA)
Act that protects privacy of background information and ensures that information supplied is accurate.
truth in lending act
An act which requires lenders to inform borrowers of all direct, indirect and true costs of credit.
Airspace and Subsurface Rights
Any limitations on either (encumbrances) normally must be indicated on the document that transfers title at the time of purchase
regulatory flexibility act
Requires an analysis of the cost a regulation will impose on small business and must consider less burdensome alternatives
right of survivorship
Right of the surviving joint owner to inherit a deceased joint tenant's ownership interest
automobile fuel economy labels
The Energy Policy and Conservation Act (EPCA) requires automakers to attach an information label to every new car. Labels must include the Environmental Protection Agency's fuel economy estimate for the vehicle.
telephone solicitation
The Telephone Consumer Protection Act (TCPA) prohibits telephone solicitation using an automatic telephone dialing system or a prerecorded voice
Fee Simple Absolute
The maximum possible estate or right of ownership of real property, continuing forever.
Delegation Doctrine
US constitution grants congress power to establish administrative agencies and allows them to enforce
Federal Trade Commission(FTC)
a federal agency empowered to prevent persons or corporations from using unfair methods of competition in commerce
consumer product safety commission (CPSC)
a federal agency established to protect the health and safety of consumers in and around their homes
deceptive advertising
a representation, omission, act, or practice in an advertisement that is likely to mislead consumers acting reasonably under the circumstances
adjudication
administrative action against an individual or organization--usually resolved through negoiation
bait and switch advertising
advertising a product at an attractively low price to lure customers in to buy more expensive items
vertical restraints
agreement between firms at different levels in manufacturing and distribution process.
horizontal restraints
agreement that restrains competition between rival firms competing in the same market
best practical control technology (BCPT)
already present sources must install BACT equipment
Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA)
also known as superfund-regulates the clean up of disposal sites in which hazardous waste is leaking into the environment
attempts to monopolize
anticompetitive conduct, specific intent to exclude competitors and garner monopoly power, dangerous probability of success in achieving monopoly power
regulation Z
applies to any covered transaction that has four or more payment installments
per se violations
blatant and substantially anticompetitive
independent agencies
board or commission
executive agencies
cabinet departments and sub agencies within those departments
equal credit opportunity act
credit cannot discriminate
administrative law judge (ALJ)
determines outcome of hearing, works for the agency prosecuting the case--suppose to be unbiased
rule of reason
do not unreasonably restrain trade- courts will look to the intent and effect of an agreement when evaluating
joint tenacy
each of two or more persons owns an undivided interest in the property, but a deceased joint tenants interest passes to the surviving joint tenants
tenancy in common
each owns an undivided interest in the property. on the death of a tenant in common the interest passes to the deceased tenant's heirs
tenancy by the entirety
form of joint tenancy ownership for husband and wife
eminent domain
government has an ultimate ownership right in all land in the US
grant deed
grantor simply states that they grant the property to someone else
fixtures
items of personal property that are attached or annexed to real property
antitrust laws
laws regulating economic competition in the US
quitclaim deed
least protection against defects in the title
best available control technology (BACT)
new sources must install BACT before beginning operation
tenancy at will
occurs when either party can terminate the tenancy without notice.
"cooling off" laws
permits buyers of certain goods to cancel their contracts within three business days
nusiance
person is liable if they use their property in a manner that unreasonably interferes with others' rights to use or enjoy their own property
trade fixtures
personal property that is installed for a commercial purpose by a tenant
concurrent ownership
persons who shares ownership rightst simultaneously in particular property
Federal Food, Drug, and Cosmetic Act
protects against adulterated and misbranded foods and drugs
Federal Insecticide, Fungicide, and Rodenticide Act (FIFRA)
regulates use of pesticides and herbicides
clean air act
regulations to control multistate air pollution-both mobile and stationary sources
Environmental Impact Statement (EIS)
required for any federal action or federally funded project that might significantly impact the environment
fair packaging and labeling act
requires food product labels to identify: product, contents, manufacturer, distributer
Freedom of Information Act (FOIA)
requires the federal government to disclose certain records to any person or entity on written request.
easement or profit in gross
right to use or take things form another's land that is given to one who does not own an adjacent tract of land
puffery
vague generalities and obvious exaggerations are permissible and not considered deceptive