Legal aspects exam #3

Tenancy in common

-A form of joint ownership of property by two or more persons. -an owner's interest does not pass to the persons who share ownership at the time of his or her death.

Protect the employee by providing:

-A safe and sanitary place to work. -Careful and competent employees with whom to work. -An environment free of discrimination and harassment.

Securities Act of 1933

-Covers the sale of securities (stock, bonds, and other forms of investments) in the primary market. -Requires that issuers of securities that are selling them publicly must make certain necessary disclosures at the time that the securities are issued.

Environmental Impact Statements must analyze:

-Impact of the proposed action on the environment. -Adverse effects of the action and alternatives to the action. -Irreversible effects the action might generate.

Unemployment Benefits

-Lost their job through no fault of their own, and -They must meet the minimum state requirements for wages or time worked during an established period of time.

Employee must:

-Obey his or her employer's lawful orders concerning the employment. -Exercise good faith toward the employer. -Do his or her work carefully and conscientiously.

Employeer must:

-Pay an employee the agreed-upon wage mandates, for his or her services. -Protect the employee -Warn the employee of any danger that exists in connection with the work.

The Equal Pay Act of 1963

-Prohibits any employer from engaging in wage discrimination based upon sex. -Requires all employees performing substantially similar jobs to be compensated equally.

The Equal Pay Act of 1963:

-Prohibits any employer from engaging in wage discrimination based upon sex. -Requires all employees performing substantially similar jobs to be compensated equally.

Eminent Domain

-Real property can be taken from an owner by action of government or other public authority for the benefit of the public. -compensation is made at the fair market value of the property.

OSHA

-Requires that companies maintain records of employee work-related accidents and sicknesses and post data regarding these every February. -Inspects workplaces to be certain that these worksites comply with safety and health standards and imposes penalties if it finds any violations. -Can impose penalties ranging from fines to facility closings.

Finding lost property

-The finder of lost property holds it in trust, that is, in safekeeping, at least for a time, for the real owner. -The finder is a custodian acting for the true owner. -The finder of lost property has ownership rights superior to everyone except the true owner.

An agency contract is terminated by an act of the parties when:

-The principal and the agent have mutually agreed on termination. -The principal has dismissed the agent. -The agent has given up the position.

Air Rights

-The right to build on or over the land - particular significance in crowded urban areas where the right to erect a building over some other use of the land might be sold.

Joint Tenancy

-When two or more persons own equal shares of property. -The death of one person transfers his or her interest to the surviving tenants

Negligent Misrepresentation

-Withholding negative reference information, and -Simply not responding to reference requests.

Requirements of a valid will in PA

-You must sign your will in front of two witnesses. -your witnesses must sign your will.

The Equal Pay Act establishes 4 main defenses for employers. May pay men more than women if:

-a seniority system, -a merit system, - a system whereby earnings are based upon the quantity and quality of production by the employees, - a differential based upon any other factor other than the sex of the worker.

EDGAR (Electronic Data Gathering, Analysis, and Retrieval System)

-allows companies to upload required information directly into the government's computers. -also useful to the public, which can now access company information electronically.

Physical presence means

-having a warehouse in the state -having a store in the state -having an office in the state, or -having a sales representative in the state.

Trusts

A device or mechanism that permits personal or real property to be held by one party, the trustee, for the benefit of another, the beneficiary.

Living will

A document in which a person directs his or her physician and/or health proxy to forgo certain extraordinary medical procedures if the person is dying or permanently unconscious.

The Equal Employment Opportunity Commission (EEOC):

A federal agency responsible for administering laws that prohibit discrimination in employment.

Americans with Disabilities Act (ADA) of 1990

A federal statute designed to protect individuals from illegal discrimination in employment on the basis of disability. -must give reasonable accomadation

The Pregnancy Discrimination Act of 1978

A federal statute designed to protect individuals from illegal discrimination in employment on the basis of pregnancy.

Civil Rights Act of 1964

A federal statute designed to protect individuals from illegal discrimination.

Civil Rights Act of 1991

A federal statute that provides two important additional remedies to an employee who can prove that he or she was a victim of discrimination -employee may collect punitive damages

Tenancy by entirety

A form of joint ownership of property by husband and wife in which both have the right to the entire property, and, upon the death of one, the other has title (the right of survivorship).

Gift in causa mortis

A gift given by a living person who expects to die from a known cause

Bequest

A gift of personal property

Devise

A gift of real property

Eviction

A legal action that denies the tenant the use of the premises

General Agent

A person authorized to assume complete charge of his or her principal's business or who is entrusted with general authority to act for the principal in all business matters.

Special Agent

A person delegated to act only in a particular transaction, under definite instructions, and with specific limits on the scope of his or her authority.

Principal-agent relationship

A person or firm needs to be represented by another in business or personal dealings with third parties.

Independent contractor

A person or firm that performs services for another

Responsibility of the finder

A person who finds property has a legal responsibility to make reasonable efforts to return the property to its rightful owner.

Tenancy at Will

A possession interest in which no specific time of lease is agreed upon. -continues indefinitely

Periodic Tenancy

A possession interest in which the lease continues for successive periods for the same length of time (weekly, monthly, etc.) -automatically renewed

Alternative dispute resolution (ADR)

A system in which contract disputes and other disagreements are resolved by using means other than a lawsuit

Testamentary Capacity

A testator must be of sound mind and legal age

Workers' compensation

A type of insurance that provides that employees may recover damages for work-related injuries and illnesses without having to prove negligence on the part of the employer.

Federal regulation

All federal agencies must take the environmental impact into account when making significant decisions.

Contract of agency

An agreement between a principal and an agent by which the agent is vested with authority to represent the principal.

Exclusive remedy

An employee who sustains a work-related injury or illness can recover damages only through workers' compensation and may not file a lawsuit against his or her employer.

Revisions

Any alterations to a will, such as erasures, words crossed out, or handwritten insertions, usually invalidate the document

Express Authority

Authority of an agent to perform the duties that are specifically stated in the contract of agency.

Real property can become personal propery

Because real property consists of land and things permanently attached to it, it follows logically that when things are removed from real property, they become personal property. -Example: Grain growing in a field becomes personal property when it is harvested.

Violations of the Clean Air Act

Civil penalties up to $25,000 a day

Respondeat superior

Coming from a legal doctrine, a Latin term meaning "let the master answer."

Securities Act of 1934

Covers the trading of these same securities in the secondary market, defined as the place where one member of the public sells securities to another member of the public. -This act requires that companies periodically release important business information to the public and to investors

Undue influence

Describes the pressure that might be applied to a testator to change his or her true wishes for the disposition of property

Invasion of privacy

Disclosing personal, irrelevant information about a former employee, irrespective of whether such information is true or false.

ESIGN

Do not apply to: Wills, codicils, and related testamentary documents. Adoption or divorce papers. Court papers such as orders, pleadings, and motions

Safe Drinking Water Act

EPA sets max levels for pollutants in drinking water

Internet Tax Freedom Act

Established a moratorium on taxing ISPs on the services they provide to computer users.

Pesticides and Herbicides

FIFRA regulates the use of pest control chemicals in the process of food growth to food packaging, to minimize their presence in foods consumed

Tangible personal property

Furniture, clothing, books, and pets.

Will contest

If it is believed that a will was signed as the result of undue influence or when a person was incapacitated, the best time to raise the issue is before that person has died, when the witnesses are still alive and the events fresh in their minds

Administrator

If the executor is deceased, declines to serve, or is lacking in capacity or if the decedent dies without making a will, the court will appoint a personal representative.

Executor

If the personal representative has been named in the will

Personal property

Includes all property other than real property, both tangible and intangible.

A negative reference can give rise to 3 lawsuits:

Invasion of privacy Defamation Negligent misrepresentation.

Insider Trading

Occurs when a person who has confidential information about a particular company purchases shares of the company's stock with the intention of selling these shares for a higher price when the information is released to the general public.

Touting

Occurs when an investor who owns shares of a company's stock posts notices online that indicate that the value of the stock will increase.

Actual Eviction

Occurs when the tenant is denied the physical use of the premises, whether or not such an eviction was approved by a court

Deceptive advertisement

One that contains a material (important) misrepresentation, omission, or practice likely to mislead a consumer who acts reasonably under the circumstances.

Intangible personal property

Patents, copyrights, goodwill, trademarks, and service marks.

Donor

Person giving the gift

Nusiance

Person liable if they use their property in a manner that unreasonably interferes with others' rights to use or enjoy their own property.

Personal property can become real property

Personal property, such as trees or shrubbery purchased at a nursery, become real property when they are planted.

Requirements of a valid will

Requirement of writing Requirement of witnesses Testamentary capacity Undue influence Living wills

Toxic Substances Control Act

Requires anyone planning to use chemicals first determine their effect on human health and environment

Constructive Eviction

Results from excessive noise.

Selling securities on the Web

Securities and Exchange Commission (SEC) is responsible

Employment contract

Specifies that the employer agrees to pay, and the employee agrees to work, for a specified period of time at a specified salary.

CERLCA

The EPA can conduct a short-term removal action at any site requiring emergency action or conduct a long-term remedial action at any site on the National Priorities List

National priorties list

The EPA can only conduct long term remediation actions at sites that are on the _____ ______ ______, which ranks the sites eligible for Superfund clean up

The acts of an employee committed while performing duties are considered:

The acts of the employer

Implied Authority

The authority an agent reasonably assumes he or she has that relates to the express authority granted by the principal.

Apparent Authority

The authority that a third party may reasonably assume an agent possesses, despite the fact that the agent does not actually possess such authority.

Power of attorney

The legal document that formally creates an agency.

Agency by Agreement

The most common method of creating an agency is by contract, or agreement.

Tenancy for years

The most common type of lease is for a specific period of time—weeks, months, years, and so on. -automatically terminates

Personal representative

The person responsible for settling the affairs of the decedent.

Principal

The person the agent represents or performs duties for

Donee

The person who is receiving the gift

Testator

The person who makes the will

Agent

The person who represents another.

Attorney in fact

The precise legal term for the person appointed as agent.

Accession

The right of an owner of property such as plants or animals to any increase in the property.

Subterranean Rights

The right to extract minerals, such as oil or coal, from land

A contract of agency usually states:

The rights and duties of the principal and the agent. The duration of the agency.

Collective Bargaining

The union then has the right to negotiate a contract with the employer that covers all terms and conditions of employment.

Gift

The voluntary transfer of property by one person to another without consideration or payment of any kind.

Occupational Safety and Health Act of 1970:

This law was passed to promote safety and health in the workplace.

Adverse Possession

Title to land also can be acquired as a result of a person's use of land over a period of time.

Clean Air Act

To control air pollution by instituting point source controls and establishing maximum pollutant levels for the ambient air.

Codicil

To make legal changes in a will, a separate document is prepared to alter or revise the will called a

Sexual harassment:

Unwelcome sexual attention, whether verbal or physical, that affects an employee's job condition or creates a hostile working environment. -employers must put a program into effect

Agency by Operation of Law

When a court finds the need for an agency to achieve a desired social policy.

Inestate

When a person dies without a will, he or she is said to have died ______.

Severalty Ownership

When all the rights of ownership in a particular piece of property are held by one person.

Undisclosed Principal

When the agent does not inform the third party that he or she is acting on behalf of another person

Disclosed Principal:

When the agent informs the third party that he or she is acting on behalf of another, and makes the third party aware of the identity of the principal

Partially Disclosed Principal

When the agent informs the third party that he or she is acting on behalf of another, but the identity of the principal is unknown to the third party

Superfund

Where the responsible party cannot be identified or has gone bankrupt, CERCLA established a $1.6 billion Trust Fund, known as _______.

Heir

a broad term that refers to a person who inherits property either under a will or from someone who dies intestate.

National Labor Relations Board(NLRB)

a federal agency responsible for administering laws relating to labor unions.

Legacy

a gift of money under a will

Guardian ad litem

an agent with the authority to purchase whatever necessities the parent has failed to provide

Doctrine of employment at will

an employer may terminate an employee's employment at any time for a good reason, a bad reason, or no reason at all.

difference between principal-agent and employer-employee relationships is:

an employer's power to control the activities of a non-agent employee.

Land

as extending down to the center of the earth and also includes things that are permanently attached to it (houses, buildings, and trees).

Real Property

comprises land and everything attached to the land

ISPs are not liable for:

copyright infringements by their subscribers

Any competent party (a person or a corporation) who has the legal right to perform an act may:

delegate his or her performance to another by appointing an agent.

Tenancy Sufferance

exists only in one limited situation—when a tenant wrongfully extends his or her tenancy beyond the term agreed upon. _______ is really not a true tenancy at all, since the status of the tenant in this situation is rather uncertain.

The authority of an agent can be:

express, implied, or apparent

PA's intestacy law:

gives property to the closest relatives, beginning with spouse and children.

An agent may perform only those acts that:

have been authorized by the principal or court

Defamation

if the employer provides information to a third party that is untrue, irrespective of whether or not it relates to the employee's job performance.

Paying Taxes on Internet Sales

if your company has presence in the state of delivery, your company has established nexus and will be required to register to collect sales tax on all taxable items

Tenant's right of quiet enjoyment

includes the use of the leased premises without unreasonable interference from the landlord or third parties.

The Age Discrimination in Employment Act of 1967

is a federal statute designed to protect individuals from illegal discrimination in employment on the basis of age -40 yrs

The Family and Medical Leave Act

is a federal statute that provides eligible employees with the right to take up to 12 weeks of unpaid leave for: -Personal medical reasons, or -To care for a child, spouse, or parent.

A principal is responsible to third parties for all agreements:

made by the agent on behalf of the principal if the agent acted within the scope of his or her authority, either express or implied.

Agency by Ratification

occurs when: Approves an unauthorized act performed by an agent. Approves an act done in the principal's name by an unauthorized person.

A principal is liable for the torts and the crimes:

of the agent if they are committed at the direction of the principal or while the agent is performing authorized duties during the ordinary course of the agency.

An agent may perform:

only those acts that have been authorized by the principal or court

Protected class

race, creed, color, sex, and place of national origin

Inter vivos gift

refers to property given while both parties are alive.

Electronic Signatures in Global and National Commerce Act of 2000

states that electronic contracts containing electronic signatures are just as enforceable as those that are printed on paper.

The responsibility of the trustee:

that of a fiduciary and is one of great responsibility. -He or she must manage the property according to the wishes of the settlor, who may be deceased.

A minor who has appointed an agent may avoid :

the contract of agency in some states, just as he or she may avoid other kinds of contracts.

Landlord's Warranty of Habitability

the landlord assures the tenant that the premises are reasonably fit for occupancy and that there are no defects that would impair the health

The physical-presence rule

the obligations of mail-order businesses to collect sales tax on out-of-state sales; the decision has been extended to include online retailers.

Clean Water Act

to restore and maintain the chemical, physical, and biological integrity of the Nation's waters

Information distributed electronically=

what investors would have received in paper form

Abandoned property

when the owner disposes of it with the apparent intention of disclaiming ownership. -Title to such property is transferred to the first person who takes control over it.