Blaw Exam

Front 1

Independent contractor

Back 1

Performs a specific service described in a contract. Works for him or herself. Follows basic contract law

Front 2

Employee

Back 2

Commits to an employer in an ongoing relationship and is subject to more control from the special rules governing employment

Front 3

Dependent contractor

Back 3

Operates a separate business but more like an employee. Has an ongoing relationship with employer

Front 4

Agent

Back 4

Someone who represents another person in dealing with 3rd parties

Front 5

Expressed authority

Back 5

When principal directly grants authority to agent (usually by contract)

Front 6

Implied authority

Back 6

Inferred from surrounding circumstances and conduct of parties

Front 7

Apparent authority

Back 7

If principle does something to lead 3rd party to think agent has authority, then 3rd party can rely on representation

Front 8

Ratification

Back 8

Where agent exceeds both actual and apparent authority, principal is not bound by contract. (With restrictions)

Front 9

Vicarious liability

Back 9

When one person is held responsible for the torts committed by another. Both principal and agent may be held responsible. Acting within scope of employment

Front 10

Fiduciary duty

Back 10

Agent has obligation to act in best interest of the principle. “Utmost good faith relationship”

Front 11

Termination

Back 11

Has to have “just cause” or a reasonable notice to the employee.

Front 12

Wrongful dismissal

Back 12

Dispute over adequate pay or amount of notice time from termination

Front 13

Collective bargaining

Back 13

Legislation allows workers the right to unionize and bargain collectively.

Front 14

Job action

Back 14

Strike or lockout. Only permitted during interest dispute

Front 15

Sole proprietorship

Back 15

An individual carrying on business alone. Has complete control but unlimited liability.

Front 16

Partnership

Back 16

Two or more people carrying on business together for purpose of making profit. Parties share costs, management and profits.

Front 17

Corporation

Back 17

Separate legal person, artificially created by statute. Has rights separate and apart from shareholders, directors and officers.

Front 18

Shareholders

Back 18

Members of corporation, but owe no duty to it. Right to vote at meetings and elect directors. Majority shareholder has ultimate control

Front 19

Shares

Back 19

Different classes:

Common and preferred

Front 20

Directors

Back 20

Elected by shareholders, has duty to the corporation itself. Exercise care, diligence.

Front 21

Officers

Back 21

Management team of corporation, appointed by directors.

Front 22

Real property

Back 22

Land or anything permanently affixes to land

Front 23

Personal property

Back 23

Property that relates to your rights to something.

Tangible, movable items. (Chattels or goods)

Intangible property (negotiable instruments)

Front 24

Fee simple estates

Back 24

Right to land, same rights as ownership today. Lasts for life.

Front 25

Leasehold estate

Back 25

Exclusive use and possession of land for a specified time. May be periodic

Front 26

Easement

Back 26

Gives another permanent right to use land. (Right if way) to cross property

Front 27

License

Back 27

Contractual right to use land, but gives no interest in land.

Front 28

Profit a prendre

Back 28

Right to remove material from land (trees)

Front 29

Joint tenancy

Back 29

Joint ownership of whole property. If one dies the other gets his or her portion

Front 30

Tenancy in common

Back 30

Each party has undivided interest, no right of survivorship. Each may sell or lease their portion.

Front 31

Condominiums

Back 31

Ownership of the unit plus common elements. Usually rules regarding use of the property. It’s a corporation (have rights to vote on council of property)