FBLA Business Law Study Guide | 2026/2027 | A+
Grade | Questions and Answers |Exam
preparation
Terms in this set (94)
cooperative A business organization owned and operated by
a group of individuals for their mutual benefit
nominal consideration small amount of money identified in a written
contract when parties cannot or do not wish to
state the amount precisely
restraint A human, mechanical, and or physical device that
is used with or without the client's permission to
restrict his or her freedom of movement or
normal access to a person's body and is not a
usual part of treatment plans indicated by the
person's condition or symptoms.
,disaffirmance The legal avoidance, or setting aside, of a
contractual obligation.
commercial paper A short-term unsecured debt instrument used by
corporations to borrow money at rates lower
than bank rates. CP has maturities from 2 - 270
days; unregulated by the SEC.
, Migrant & Seasonal Agricultural The Migrant and Seasonal Agricultural Worker
Workers Protection Act (MSPA) regulates the hiring and
employment activities of agricultural employers,
farm labor contractors, and associations using
migrant and seasonal agricultural workers. The
Act prescribes wage protections, housing and
transportation safety standards, farm labor
contractor registration requirements, and
disclosure requirements. The Wage and Hour
Division administers this law.
The Fair Labor Standards Act (FLSA) exempts
agricultural workers from overtime premium pay,
but requires the payment of the minimum wage
to workers employed on larger farms (farms
employing more than approximately seven full-
time workers. The Act has special child-labor
regulations that apply to agricultural
employment; children under 16 are forbidden to
work during school hours and in certain jobs
deemed too dangerous. Children employed on
their families' farms are exempt from these
regulations. The Wage and Hour Division
administers this law. OSHA also has special safety
and health standards that may apply to
agricultural operations.
The Immigration and Nationality Act (INA)
requires employers who want to use foreign
temporary workers on H-2A visas to get a labor
certificate from the Employment and Training
Administration certifying that there are not
sufficient, able, willing and qualified U.S. workers
available to do the work. The labor standards
protections of the H-2A program are enforced by
The Wage and Hour Division.
Grade | Questions and Answers |Exam
preparation
Terms in this set (94)
cooperative A business organization owned and operated by
a group of individuals for their mutual benefit
nominal consideration small amount of money identified in a written
contract when parties cannot or do not wish to
state the amount precisely
restraint A human, mechanical, and or physical device that
is used with or without the client's permission to
restrict his or her freedom of movement or
normal access to a person's body and is not a
usual part of treatment plans indicated by the
person's condition or symptoms.
,disaffirmance The legal avoidance, or setting aside, of a
contractual obligation.
commercial paper A short-term unsecured debt instrument used by
corporations to borrow money at rates lower
than bank rates. CP has maturities from 2 - 270
days; unregulated by the SEC.
, Migrant & Seasonal Agricultural The Migrant and Seasonal Agricultural Worker
Workers Protection Act (MSPA) regulates the hiring and
employment activities of agricultural employers,
farm labor contractors, and associations using
migrant and seasonal agricultural workers. The
Act prescribes wage protections, housing and
transportation safety standards, farm labor
contractor registration requirements, and
disclosure requirements. The Wage and Hour
Division administers this law.
The Fair Labor Standards Act (FLSA) exempts
agricultural workers from overtime premium pay,
but requires the payment of the minimum wage
to workers employed on larger farms (farms
employing more than approximately seven full-
time workers. The Act has special child-labor
regulations that apply to agricultural
employment; children under 16 are forbidden to
work during school hours and in certain jobs
deemed too dangerous. Children employed on
their families' farms are exempt from these
regulations. The Wage and Hour Division
administers this law. OSHA also has special safety
and health standards that may apply to
agricultural operations.
The Immigration and Nationality Act (INA)
requires employers who want to use foreign
temporary workers on H-2A visas to get a labor
certificate from the Employment and Training
Administration certifying that there are not
sufficient, able, willing and qualified U.S. workers
available to do the work. The labor standards
protections of the H-2A program are enforced by
The Wage and Hour Division.
