Deca Entrepreneurship Exam Graded A+

Sovereign Community - ANSWER-A legal concept stating that the courts in a country represent the country's laws, and their decisions cannot be reversed by the decision of courts in other countries. Legal concept that affects foreign countries Eminent Domain - ANSWER-the right of a government or its agent to take away private property for public use, with payment of compensation. Absolute privilege - ANSWER-An absolute defense to an otherwise defamatory statement because of the venue or context in which the statement was made. Social Responsibility - ANSWER-An organization or individual has an obligation to act for the benefit of society at large. Infringement - ANSWER-The action of breaking the terms of a law, agreement, etc. Defamation - ANSWER-A statement that injures a third party's reputation. National Labor Relations Act - ANSWER-to protect the rights of employees and employers, to encourage collective bargaining, and to lessen certain private sector labor and management practices Vocational Rehabilitation Act - ANSWER-Was put in place to correct the problem of discrimination against people with disabilities in the United States. Fair Labour Standards Act - ANSWER-A law that creates the right to a minimum wage, and "time-and-a-half" overtime pay when people work over forty hours a week. Americans with Disabilities Act - ANSWER-A civil rights law that prohibits discrimination based on disability. Does not allow employers to ask employees about potential medical history. Consolidation - ANSWER-joining of two or more companies to form a new company General Partnership - ANSWER-designed to combine capital, experience, and the abilities of two or more people Limited Partnership - ANSWER-permits a partner to invest in a business but have limited liability and responsibility