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