BLAW 3310: Test 3: miller uta Questions with well explained answers

"Good Faith" exception in California - honesty in fact in the conduct or transaction in question "no raiding post employment clause - Designed to protect an employer's business interest in keeping its workforce intact even after the departure of key employees. Typically, the departing employee is forbidden from soliciting all current employees as well as any employee who resigned within six months of the employee's departure date. If the employee does solicit these individuals, the employer may sue the employee of breach of contract. "No Raiding" post employment clause - employees will not recruit other employees for another company when they leave the one they are at "scab labor" - A worker that can cross the picket line of the union strike and work for the employer. Not actually part of the company... an outside worker that is not connected to the union. "Tip Credit" for waitstaff - allowed to pay waitstaff 2.13 an hour because tips will make them earn more than 7.25 an hour 45% for Medicare b= 7.65% contribution by employer in behalf of employee - 6.2% for SS plus 1.45% for Medicare b= 7.65% contribution by employer in behalf of employee - The government doesn't trust you to save, so they set aside 7.65% for your future. The employer matches that 7.65% to get it to 15.3% 6.2%+1.45%=7.65% contribution by employer on behalf of employee - amount taken out of payroll for SS and medicare agency - the potential power of individuals and groups to contest cultural norms, values, mental maps of reality, symbols, institutions, and structures of powerArticle 2 of the UCC - governs the sale of goods articles of incorporation - a written legal document that defines ownership and operating procedures and conditions for the business artisan's lien - type of lien that permits an artisan to retain possession of a piece of work until it has been paid for Assumed name certificate (d/b/a) - Any type of entity structure can file an Assumed Name, whether you are operating as a sole proprietor, a partnership, a corporation, or an LLC. authorization cards - A card signed by an employee at the worksite targeted to possible unionization; the card authorizes the union to request that an election be held to determine if all workers will be represented by the union. bargaining unit agent - The union recognized and certified by the National Labor Relations Board, upon election by majority of the workers, to be the exclusive representative of employees in a bargaining unit (worksite) to determine working conditions and wages. Business Judgment Rule (BJR) - rule that allows management immunity from liability for corporate acts where there is a reasonable indication that the acts were made in good faith with due care Bylaws - A set of governing rules adopted by a corporation or other association. Cashier's check - check guaranteed by a bank, drawn on the bank's own funds and signed by a cashier Certificate of Deposit (CD) - A savings alternative in which money is left on deposit for a stated period of time to earn a specific rate of return. Charter - A document that gives the holder the right to organize settlements in an areacollateral - A security pledged for the repayment of a loan. collective bargaining in good faith - The process by which the employer and the union, on behalf of all employees in a collective bargaining unit, negotiate a contract, setting forth the terms and conditions commerce clause - Commerce Clause - part of the U.S. Constitution that gives Congress the power to regulate interstate commerce; the basis of much federal regulation concerns of franchisee - Shrinking disposable income, Increasing competition, Rising costs,Falling staff morale, Bad debts, Adapting to consumer needs. Concerns of franchisor - quality Contribution by Employee - company sponsored retirement plan where the employee may elect to have a portion of each paycheck deposited into a retirement account owned by the employee and held in their name contribution by employee - Employee adds a certain percentage each month to set aside in the 401(k) Deficiency Judgment - A personal judgment levied against the borrower when a foreclosure sale does not produce sufficient funds to pay the mortgage debt in full. Defined Benefits Plan - company pension plan where employee's pension payments are calculated according to length of service and the salary they earned at the time of retirement Defined Contributions Plan (401K plans) - retirement plan where the employee, employer, or both make contributions on a regular basisdefined contributions plans (e.g. 401(k) plans - - Retirement plans through corporations. Company will contribute up to a certain percentage of what the employee contributes. disclaimer of warranty - a negation or restriction of the rights under a warranty given by a seller to a buyer double taxation - feature of taxation that allows stockholders' dividends to be taxed both as corporate profit and as personal income Drawee - The bank on which a check is written. drawer - the person who signs a check Duration of Corporation - Can have perpetual existence