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b-law comps

business law comps

QuestionAnswer
EEO, equal employment opportunity has 3 federal laws equal pay act, age discrimination in employment act , title VII of the civil rights act
equal pay act requires equal pay for equal work; regardless of gender
age discrimination in employment act (ADEA) protects workers 40 and older from age based discrimination
Title VII of the civil rights act prohibits discrimination based on race, color, religion, sex, national origin
sole proprietorship (business ethics) owned/ ran by 1 person, unlimited personal liability
partnership (business ethics) owned by 2 or more, shared liability
corporation (business ethics) a separate legal entity from its owners (shareholders) with limited liability
sole proprietorship (liability) owner personally liable for debts
partnership (liability) partners share liability
corporation (liability) shareholders have limited liability
basic components of contract law offer, acceptance, consideration, mutual agreement, capacity, legality
offer one party proposes an agreement
acceptance the other part agrees to the offer
consideration something of value is exahcnged
mutual agreement both parties consent to the terms
capacity parties must have the legal ability to contract
legality the subject of the contract must be lawful
enforceability a contract is enforceable if it meets legal requirements and does not involve illegal activity or fraud
torts negligence, duty of care, breach of duty, causation, damages, liability for injuries
duty of care obligation to avoid harm
breach of duty failing to meet that obligation
causation that breach must directly cause harm
damages actual harm or loss must occur
liability for injuries the legal responsibility for causing harm to another person.
trademarks protect logos, names, symbols, that distinguish business products
copyright protect original works of authorship from unauthorized use
Created by: lilymillsaps
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