In labor law, a procedure that may occur in the event
of an impasse under a collective bargaining agreement. A fact-finder hears
evidence and makes a decision on the point at issue, but the fact-finder's
judgment is not binding, and if the parties do not accept it the impasse
continues.
A defense that may excuse an otherwise illegal
horizontal merger. A firm with no reasonable prospect of survival may legally
merge with a competing firm even if the merger threatens competition, but it
must be shown that the acquired firm was almost certain to go bankrupt and that
there was no chance of another merger with less harmful effects on competition.
A section of the Consumer Credit Protection Act,
enacted in 1970 and intended to ensure the fairness and accuracy of information
in consumer credit reports. It entitles consumers to know the contents of
information reported about them by consumer reporting companies.
A section of the Consumer Credit Protection Act,
enacted in 1977. It prohibits harassment and abuse in debt collection
practices.
A statute enacted by Congress in 1938 that set
standards for minimum wages, child labor, and equal pay for equal work
regardless of sex. Its objectives were to put more people to work and to
eliminate labor abuses.
State laws that allowed companies to engage in resale
price maintenance-fixing the prices at which customers resold their goods
within the borders of the state in question. Such laws have been superseded and
resale price maintenance is now illegal.
In copyright law, the right to use brief, fully
identified portions of a protected work without permission.
An intentional tort that involves restricting another
person's movements against that person's will, either directly or
indirectly.
A chapter of the Bankruptcy Reform Act, enacted in
1986, that ex tends certain protections to owners of family farms and their codebtors
in the management of debt.
An illegal union practice in which employers are
required to pay for services that are not actually performed, or for workers
with no specific task to perform on certain assignments.
A federal law designed to provide, among other
things, cash benefits for coal miners totally disabled because of black lung
disease.
A federal agency that insures each account in participating
banks up to a particular limit, re quires insured banks to meet certain
standards, and investigates the stability of insured banks.
A system of government in which power is divided
between a federal government and state governments. The states are accorded
control over purely local issues and the general power to protect the public
health, safety, and welfare, while the federal government maintains control
over national affairs.
An agency created by Congress in 1978 to hear
complaints about unfair labor practices under agreements with federal
employers.
An official federal publication in which
administrative regulations, proposed regulations, and executive orders are
announced daily.
A federal administrative agency designed to promote
free and fair competition. It enforces antitrust laws, prohibits false and
deceptive advertising, and administers the Magnuson-Moss Warranty Act and other
consumer protection laws.
A statute enacted by Congress in 1914 that created
the FTC.
A doctrine that, before the enactment of workers
compensation statutes, prevented workers from recovering damages for an
accident in the workplace if a coworker contributed to the accident.
The most serious category of crime, generally
entailing punishment of at least one year's imprisonment in state or federal
prison.
A person who holds a position of trust, under which
he or she is obliged to act in the interests of someone else.
The principle whereby a court will not issue opinions
that may be reviewed, and revoked, by the executive or legislative branch. If
court decisions were subject to approval by the other branches, this would
violate the integrity of the judiciary and the principle of separation of
powers.
In contract law, a binding assurance that an offer
will be kept open. Under the UCC, such an offer must be made by a merchant,
must be signed and in writing, and must contain an assurance that it will be
held open. The option lasts for the time stated in the offer, but no longer
than three months.
An item of personal property that has been attached
to real property so permanently that it is considered part of the real estate
under the law.
The agency of the federal government that ensures the
quality and safety of foods and drugs.
A corporation chartered in a different state from the
one in which it is operating.
A 1977 statute incorporated into the Securities and
Exchange Act of 1934, that outlaws bribery of foreign officials and.political
parties by domestic firms and requires companies that deal in securities to
keep accurate records.
In administrative law, a procedure that offers the
public a relatively extensive opportunity to influence policy made by an
administrative agency. The procedure involves a public hearing that is
conducted like an evidentiary trial.
A judicial doctrine under which a court may allow a
case to be transferred to a more suitable forum, or dismissed, if it can be
shown that trial in another court would be more convenient for the litigants
and witnesses and would better serve the interests of justice.
A form of license agreement in which the buyer
obtains the right to sell a specific product or service in exchange for a fee
paid to the seller, who usually maintains control over the quality of the
product or service the franchisee provides.
A model of social responsibility that holds that
individuals know their o- interests better than anyone else and should have the
right to act upon those interests. This theory suggests that the only social
responsibility of a business is to legally maximize its profits.
A product warranty that expressly spells out the
obligations of the manufacturer.
