Exam 3 Study
Guide
BUSN 360 Jeff Tatum
This
guide lists the key concepts from the last third of the course. Be sure to know these concepts, but read
through Morgan’s textbook and the power point presentations, also.
Chapters
covered in this exam: Morgan, chapters 21, 24, 25, 26, 27, 28
Ch.
21 Sales Contracts
Goods
Sales
Merchant
Good faith
FOB – free on board
FAS – free on alongside
Bill of lading
Warehouse receipt
Course of dealing
Usage of trade
Course of performance
Essentials of a written contract
under the UCC – Parties, subject matter, some quantity term
Gaps
filled under the UCC – Price, time of delivery, terms of delivery, inspection,
exact quantity
Absent a delivery term, the place
of delivery is the seller’s place of business
Absent agreement to the contrary,
buyer bears risk of loss during shipment
Ch.
24 Agency
Principal
Agent
Independent contractor
Employee
Express agency
Implied agency
Power of Attorney
Duties of agents
Duties of principles
Termination of Agency
Ch.
25 Agency and Liability
Actual authority
Implied Authority
Apparent Authority
Ratification
Principal’s liability in agency
Employer liability – respondeat superior
Both
the employee and employer can be personally liable for a tort
Generally – no liability for an
independent contractor
Exceptions
– negligent hiring and retention;
inherently dangerous work;
illegal work; work specifications
made by the party that hired the independent contractor
Scope of employment
Frolics
and detours
Ch.
26 Labor Law
At-will employment – The original
theory, which has since been reduced or repealed. What is it?
Wrongful discharge
Public policy exception
The differences between Employees
and Independent Contractors
Supervision,
control, tools, hours, nature of the project, duration of the work
Fair Labor Standards Act –
minimum wage, overtime, child labor aspects
Equal Pay Act
Occupational Safety and Health
Act (OSHA)
Worker’s Compensation
–
Differences from normal tort suits
–
Administrative process, not initially in
courts
–
Scheduled injuries, Disability
–
Master/Servant Rule
Whistle Blower protections and
Retaliation
Ch. 27
Discrimination
Protected categories under the
Civil Rights act of 1964
Race,
color, religion, national origin and sex
Applies
to employers with 15 or more employees
Equal Employment Opportunity
Commission (EEOC)
All
claims must be brought before the EEOC administrative process
Disparate
Treatment
Disparate
Impact
Intentional
discrimination
Constructive
discharge
Bona Fide Occupational
Qualification (BFOQ)
Other protected categories, under
other acts
Age –
cannot discriminate against workers more than 40 years old
Disability
– Americans with Disability Act (ADA) requires reasonable accommodations
Harassment
Hostile
Environment
Quid pro quo
Ch.
28 Forms of Business Organization –
generally just know the different types
Proprietorship
Franchising
Partnership
Limited Partnership
Corporation
Taxation
of corporate income, investor liability, number of investors
Short
Answer Topics
·
Explain the differences between these
statuses: independent contractor and employee
·
Explain the differences between express
authority and apparent authority
·
What are course of dealing and usage,
and when are they used to interpret a contract?
·
What are the differences between a tort
case and worker’s compensation?
·
In what ways has “at-will” employment
been limited?
