BUL 4310 FINAL

Types of Orders the FTC can receive from a company doing false advertising

---Ceade-and-desist Order requiring the company to stop the challenged advertising --Counter advertising. This requires the company to advertise anew--in print, on the internet, on radio, and on television--to inform the public about the earlier information ---Multiple product Order which requires a firm to stop false advertising for all of its products, not just the product involved in the original action

What is the difference between a fixed term tenant, period month to month tenant, or a tenant at will

---Fixed-Term Tenancy a type of tenancy under which property is leaded for a specific period of time, such as a month, a year, or a period of years; also called a tenancy for years ---Periodic Tenancy lease does not specify how long it is to last but does specify that rent is to be paid at certain intervals. It is automatically renews for another rental period unless properly terminated ---Tenant at Will either party can terminate without notice. This type of tenancy can arise if a landlord rents property to a tenant "for as long as both agree" or allows a person to live on the pe3msises without paying rent

Debts that cannot be discharged

--Back taxes acrued within 2 years of filing bankrupcty -- debt borrowed to pay taxes --Claims against property or fund obtained by the debtor under false pretenses or by fakse representation --Claims by creditors who were not notfied of the bankruptcy --Claims based on fraud ---Domestic-support concerning divorce or propety settletment ---Retirement Loan Debt --Claims basef on willful or malicious conduct --Goverment fines and penalities --Student Loans --Consumer debts greater than $650 for luxury good/ services --Cash advances totaling $925 --Judgement obtained from a DUI --fees from HOA --Taxes where required docuemnation was not provided

Violations of FDCPA

--Contact the debtor at their place of work if their employer objects --Contact he debtor at inconvenient hours or if they are being represented by an attorney --contact third parties outside of parents, spouse, financial advisor about payments unless authorized by the court --Harass or intimidate the debtor or threaten them --communicate with the debtor after being notified that they are refusing to pay the debt expect to advise that the debt has transferred to a collections agency

What has to be in a Franchise Agreement

--PAYMENT FOR THE FRANCHISE: terms of payment for the franchise --BUSINESS PREMISES: specify whether the premises for the business must be leased or purchased outright and who is responsible for paying --LOCATION OF THE FRANCHISE: Establish territorial rights --BUSINESS ORGANIZATION: require that the business use a particular organizational form and capital structure. Sales quotas and recordkeeping equipment --QUALITY CONTROL: may specify that the franchisor will provide some degree of supervision and control so that it can protects the franchisee's name and reputation --PRICING ARRANGEMENTS: Depending on the nature of the business, the franchisor may require the franchisee to purchase certain supplies from the franchisors at an established price. a franchisor cannot, however, set the prices at which the franchisee will resell the goods because such price setting may be a violation of state or federal antitrust laws --GROUNDS FOR TERMINATION: sp3ecifes the termination must be "for cause" and then define the grounds for termination

Limitied-Liability Company (LLC)

A hybrid that combines the limited liability aspects of a corporation and the tax advantage of a partnership --Members of LLCs are shielded from personal liability --an LLCs purpose is to provide its members with asset protection and favorable taxation while being easy to incorporate and allowing for flexible profit distribution

Guarantor

A person who agrees to satisfy the debt of another (the debtor) only after the principal debtor defaults; a guarantor's liability is thus SECONDARY.

Surety

A person, such as the cosigner on a note, who agrees to be PRIMARILY responsible for the debt of another

Disability

A physical or mental impairment that substantially limits one or more of the major life activities of the affected individual

What is a restrictive Covenant

A private restriction of the use of land

Statute of Frauds

A state statute under which certain types of contracts must be in writing to be enforceable

Fair Debt Collection Practices Act

Attempt to curb perceived abuse by collections agencies. The act applies only to specialized debt-collection agencies and attorneys who regularly attempt to collect debts on behalf of someone else

Management of an LLC

Basically, LLC members have two options for managing the firm. It can either be "member managed" or "manager managed" ---Member managed LLC, all of the members participate in management, and decisions are made by majority vote --- Manager managed LLC, the members designate a group of person to mange the firm.. the management group may consist of only members, both member and nonmember or only nonmembers

Domain Name

Before Bringing a suit, a trademark owner has to ask the court for a subpoena to discover the identity of the owner of the infringing Web site

Duty of the Prinicipal

Compensation, reimbursement, and indemnification, cooperation, and safe working conditions

Limited Partnership

Consists of at least one general partner and at least one limited partner General Partner assumes management responsibility for the partnership and has full responsibility for the partnership and for all its debts ----If they leave: Can voluntarily dissociate, or withdraw from a limited partnership unless the partnership agreements specifies otherwise Limited Partner contributes cash or other property and owns interest in the firm but is not involved in management responsibly and is not personally liable for partnership debts beyond the amount of his or her investment ---- If they leave: can withdraw from the partnership by giving six months' notice unless the partnership agreements specifies a term

Copyrighted Music

Criminal Penalties for copyright violations could be imposed only if unauthorized copies were exchanged for financial gain also for those who exchange unauthorized copies of copyrighted works without getting a profit which if piracy.

Unanimous Rule Partner Decisions

Decisions that significantly affect the nature of the partnership or that are outside the ordinary course of the partnership business. Alter the essential nature of the firm's business as --Expressed in the partnership agreement --Change the capital structure of the partnership --Amend the terms of the partnership agreement --Admit a new partner --Engage in a completely new business --Assign partnership property to a trust for the benefit of the crediots, or allows a credior to enter a judgement agaisnt the partnership, for an agreed sum, without the use of legal proceedings. --Dispose of the partnership's goodwill ---Submit partnership claims to arbitration --Undertake any act that would make further conduct of the partnership business impossible

How to prevent someone from committing online defamation

Discover the identity of the person behind the remarks and obtain a court order to identify the person responsible for making the remarks from the internet service provider

When a Partner Dissociates from a partnership:

Dissociation accurs when a parenter ceases to be assoicaited in the carrying on the partnership business. Dissocioation normaily entitles the partner TO HAVE HIS OR HER INTERST PURCHASED BY THE PARTNERSHIP. It also terminated the partner's actual authoirt to act for the partnership and to particapte in running its business. The partnership may continue to do business without the dissociated partner

When is refusal to sell to a dealt a violation of antitrust law

Example: When a company owns three-fourths of a business, and has a monopoly power, its unilateral refusal had an anticompetitive effect on the market which would cause violation of Antitrust law

Duty of the Agent

Generally, the agent owes the principal five duties performance, notification, loyalty, obedience, and accounting

Federal Trade Commission

Governs Advertising an unsupported claims regarding products

Sofie and Tiny Inc their beverage container business..... The first board of directors may be appointed by the firms

Incorporators

Chapter 11 Bankruptcy[Company(voluntary/Involuntary)]

Involves reorganization in which the creditorsan the debtor forumalte a plan under which the debtor paysa portion ofthe debs and is discharged of the remainder. The debtor is allows to continue in business

Is it a violation of the antitrust laws when companies consult with one another when they have territorials or customer resttrictions

Judged under the Rule of Reason, territorial and customer restrictions were once considered per se violations of Section 1 but in 1977 the US Supreme Court held that they should be judged under the rule of reason

Chapter 7 Bankruptcy(Voluntary/Involuntary)

Liquidation(involved the selling of all nonexempt assets and the distribution of the proceeds to the debtors creditors)

Food and Drug Administration (FDA)

Monitors the establishment of food standards, species safe levels of potentially hazardous food additives, and providers classifications of food and drug advertising Also has the responsibility of ensuring that drugs are safe and effective before they are marketed to the public.

Pre-incorpation transaction cotract effect

Once companies come into existence, they can enforce any preqorganizations contract made on its behalf

Majorty Rule Partner Decisions

Ordinary matters connected with partnership business, uless otherwise specified in the agreement.

Penalties for Companies that are Polluting

Permits have to be enforced by the state Depending on the violation, civil penalties range from $10,000 to $25,000 per day but not more than $25,000 per violation Criminal penalties, which apply only if a violation was intentional, range from a fine of $2,500 per day and imprisonment for up to one year to a fine of $1 million and fifteen years' imprisonment. The responsible party may be liable to clean up the pollutants or pay to have it done

Sexual Harrassment

QUID PRO QUO: harassments occurs when sexual favors are demanded in return for job opportunities, promotions, salary increases, or other benefits HOSTILE ENVIRONMENT: harassments occurs when a pattern of sexually offensive conduct runs throughout the workplace and the employer has not take steps to prevent or discourage it

Sole Properietorship

Sole Owner, the owner of the business --Advantage: 100% ownership of profits, easier to start, less costly, few legal formalities with no documents needing to be filed --Disadvantage: 100% assumed risk of assets, will not continue if the sole proprietor passes

Online Defamation

Statements of Opinion are protected under the 1st amendment, no action taken against them. Statements of fact that may be damaging to someone is not protected and may lead to defamation

What is the relationship between Two Tenants in Common when one sells their interest to a third party

Tenancy in common refers to a form of co-ownership in which each of the two or more persons owns an undivided interest in the property. The interest is undivided because each tenant shares rights in the whole property ---Ownership passes to tenants family if they die --If a joint tenant sells their interest to a third party, the joint tenancy is terminated and the third party is referred to as tenant in common

Consumer Product Safety Act/ Administration

The CPSC conducts research on the safety of the individually consumer products and maintains a clearinghouse on the risks associated with various products. They Set safety standards for consumer products. Ban the manufactures and sale of any products that the commission believes poses and "unreasonable risk" to consumer

The Clean Water Act

The CWA established a permit system, called the National Pollutant Discharge Elimination System (NPDES) that focuses mainly on industrial wastewater and storm water discharges

Equal Credit Opportunity act

The ECOA prohibits the denial of credit solely on the basis of race, religion, national origin, color, gender, marital status, or age/ The act also prohibits credit discrimination on the basis of whether an individual receives forms of income, such a public assistance benefits

Company Liability for Providing Information to the Federal Trade Commission

The FTC: Prevents business from engaging in unfair trad practices: stops the formation of monopiles in the business sector: protects consumers rights

What is a Zoning restriction

The purpose of zoning laws is to manage the land within a community in a way that encourages sustainable and organized development while controlling growth in a manner that serves the interest of the community The purpose of zoning is to enable the municipality to control development but not to prevent it altogether or limit the government ability to adapt to changing circumstances or unforeseen needs

Written Disclosure

The range of goods and services included and the value and estimated profitability of the franchise

Creditors' Committee

This committee is often composed of the biggest suppliers to the business. No orders affecting the estate will be entered without the consent of the committee. FAST TRACK CHAPTER 11 PROCEDURE allows foe the consent of the committee to be bypassd if companys debts are less than $2.49 million or they o not own or manage real estate

REASONABLE BASIS FOR ANY REPRESENTATIONS

To prevent deception, all representation made to a prospective franchise must have reasonable basis at the time they are made ---Projected Earning Figures ------ Actual Data with Numerical and percentage figures --Explanation of terms: such as termination, cancellation, and renewal

Franchise Disclosures

To protect franchisees, a state law might require the disclosure of information such as, THE ACTUAL COST OF OPERATIONS, RECURRING EXPENSES, AND PROFITS EARNED, along with facts substantiating these figures

Ratification

When the principal affirms or accepts responsiblity for, an agent's unauthorized act. When ratification occurs, the prinicpal is bound to the agent's act ---If a principal ratifies a contract without knowing all of the facts, the principal can rescind(cancel) the contract. THe agent, will be liable to the third party for misrepresneting her or his authority

What are special use permits

a permit that allows for a specific exemption to zoning regulations for a particular piece of land in a location that has a particular zoning characteristic. Local zoning authorities grant special use permits Sometimes, zoning laws permit a use, but only if the property owner complies with specific requirements to ensure that the proper use does not harm the immediate neighborhood

Chapter 13 Bankruptcy[Individual(Voluntary)]

involved reorganization or "adjustment of Debts of an Individual with Regular Income" who owe fixed (liquidated) unsecured debts of less than $383,175 or fixed secured debts of less than $1,149,525

What size does a company have to be to be required to provide Health Insurance

required for companies with 50+ employees

FTC Franchise Rule

requires franchisors to disclose certain material facts that a prospective franchisee needs in order to make an informed decision concerning the purchase of a franchise.

Communication Decency Act

states that no proves or user of an interactive computer service shall be treated as the publisher or speaker of any information provided by another information content provider

Liability in an LLC

the court held that under Virginia state law, members, manager, and agents of an LLC are not responsible for its liabilities "solely" by virtue of their status. only those who : have played a key role in contributing to the company's tortious conduct can be part of the wrongful discharge claim

Liability from a waste storage site

those liable are the current owner, the one who generated the waste, the one who transported the waste, the person who owned or operated the site at the time of disposal All governing bodies regulate waste disposal

What is a Zoning Variance

when a property owner wants to use his or her land in a manner not permitted by zoning rules, she or he ca request a variance, which allows an exception to the rules --The owner must demonstrate that the variance is necessary for reasonable development, is the least intrusive solution to the problem will not alter the essential character of the neighborhood.

what is a taking

when the government uses its power of eminent domain to acquire land owned by a private party, the taking can physical, as when a government agency uses or occupies the land, or it may be constructive, as when an agency regulation in loss of property value