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exam 3 140
| Question | Answer |
|---|---|
| A periodic tenancy is characterized by: | An indefinite duration that automatically renews if neither party notifies the other of intent to terminate. |
| To be eligible for FMLA leave, an employee must work at a location where the employer has at least 50 employees within a radius of: | 50 miles |
| The Latin term meaning "let the master respond" and referring to the doctrine of vicarious liability is: | Respondeat Superior |
| When an LLC has more than one member, the IRS treats it as a sole proprietorship. | false |
| Apparent Authority exists when: | Third parties believe the agent has authority because of the principal's behavior. |
| Workers' Compensation laws allow injured employees to receive benefits even if the employer was not negligent. | true |
| For a sole proprietorship, the owner's personal assets are protected from business debts. | false |
| In an agency relationship, the agent can delegate to the principal the same powers the principal themselves possess. | false |
| An anti-lapse clause provides an insured with a grace period to pay an overdue premium before the policy is canceled. | true |
| What document provides a summary of deeds and other documents that establish the ownership history of real property, and identifies liens or mortgages? | Title Abstract |
| Which of the following is NOT a common discharge exception to the Employment-at-Will doctrine? | Discharge based on financial need for downsizing |
| For income tax purposes, employees receive a: | W-2 wage and tax statement |
| The taxation mechanism where a partnership passes their income or loss through to the partners, who then report it on their individual tax returns, is called a: | Tax pass-through |
| Deed | A legal document that conveys or transfers the title and ownership of real property from one person or entity to another. |
| Title Abstract | A legal document that summarizes deeds and other documents to establish the ownership history of real property. |
| Fiduciary | A person in a relationship of trust and confidence. |
| Appraisal Clause | Clause allowing either an insurer or insured to demand an estimate prepared by an impartial third-party if they cannot agree on the amount of a loss. |
| Tenancy at Sufferance | Tenancy created when a tenant remains in possession of real property beyond the duration of the lease without the landlord’s consent |
| Besides the terms of payment, name two key factors the IRS uses to distinguish an employee from an independent contractor. | The IRS looks at behavioral control and the nature of the relationship. If the business directs how work is done or offers benefits and long-term commitment, the worker is likely an employee. |
| A covenant not to compete is generally enforceable if: | The territory and time restrictions are reasonable. |
| An agency relationship is that of a fiduciary, which is defined as: | A person in a relationship of trust and confidence. |
| A fixture is defined in property law as: | An object permanently attached to land (real property). |
| The Family and Medical Leave Act (FMLA) applies to employers with a minimum of how many employees? | FMLA applies to employers with at least 50 employees. This threshold ensures only larger workplaces are required to offer job-protected leave for qualifying family or medical reasons. |
| Generally, an employer defines a full-time employee as someone who works between how many hours in a seven-day workweek? | 35 and 40 hours |
| Wage | Compensation usually for skilled and unskilled labor expressed in terms of hours, weeks, or pieces completed. |
| Collective Bargaining Agreement | A legal agreement between an employer and a union representing employees. |
| Respondeat Superior | Doctrine holding an employer liable for injuries caused by employees acting within the scope of their employment. |
| Negligent Employment | An employer's direct liability for the actions of an employee due to failure to investigate the applicant's background. |
| Covenant Not to Compete | A promise not to engage in the same type of business for a stated time and territory. |
| The Occupational Safety and Health Administration (OSHA) requires employers to provide a safe and healthy workplace. | True |
| An employer can be held directly liable for injury caused by an employee if the employer failed to exercise due diligence in investigating the background of an applicant. This is the doctrine of: | Negligent Employment |
| In property law, define "Waste" as it relates to a tenant's use of real property. | means a tenant damages or neglects real property in a way that lowers its value or violates the rights of future owners. It includes intentional harm, failure to maintain, or unauthorized changes, even if they improve the property. |
| The doctrine of Employment-at-Will is applied in every state except which one? | Montana |
| A qualified employee with a disability is an individual who can perform the essential functions of the job only with a reasonable accommodation. | true |
| An independent contractor is primarily distinguished from an employee by the fact that the independent contractor is: | Not controlled as to how to perform the work to be performed |
| The term periodic tenancy is one of the most common tenancy types for leasing business space. | false |
| The Americans with Disabilities Act (ADA) applies to funeral establishments with how many or more employees? | 15 |
| The Civil Rights Act - Title VII prohibits discrimination based on all of the following EXCEPT: | age |
| What is the legal doctrine that requires an employment contract for a period of more than one year to be in writing? | The Statute of Frauds requires that any employment contract lasting more than one year must be in writing to be legally enforceable. This rule helps prevent misunderstandings and ensures clarity in long-term agreements. |
| The Equal Dignity Rule requires that: | An agent's authority must be in writing if the contract they enter must be in writing. |
| The death or incapacity of either the principal or the agent terminates the agency relationship, unless a durable power of attorney is in effect for incapacity. | true |
| If an employment contract is for a time period of more than one year, it must be in writing to satisfy the Statute of Frauds. | true |
| What is the purpose of Umbrella Insurance? | Umbrella insurance provides extra liability coverage beyond your regular policies, protecting your assets if you're sued for damages that exceed your auto or homeowner's limits. |
| The Age Discrimination in Employment Act (ADEA) protects applicants and employees who are how many years of age and older? | 40 |
| The common law doctrine that allows an employer or employee to terminate the employment relationship at any time for any reason is known as: | Employment-at-Will |
| Briefly explain why an individual who voluntarily quits a job without cause is typically ineligible for unemployment benefits. | An individual who voluntarily quits a job without good cause is typically ineligible for unemployment benefits because these benefits are designed to support people who lose work through no fault of their own. |
| Quitting without a valid reason, such as unsafe working conditions or harassment, means the separation was voluntary, not involuntary, and therefore doesn’t meet the eligibility criteria. |
Created by:
peggert