Final exam study guide
Final exam study guide LGS200-002
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This 5 page Study Guide was uploaded by Jennifer Scheuer on Saturday April 23, 2016. The Study Guide belongs to LGS200-002 at University of Alabama - Tuscaloosa taught by Ruth Ann Hall in Spring 2016. Since its upload, it has received 111 views.
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Date Created: 04/23/16
LGS-200 Final Study Guide Securities Securities Act of 1933: regulates the ISSUANCE of securities by corporations, limited partnerships, and association. Purpose: require full and honest disclosure of information to investors. Securities and Exchange Commission (SEC): federal agency empowered to administer federal security laws. Adopt rules and regulations to interpret and implement federal security laws. Investigate alleged violations and enforce punishment. Regulate activities of security brokers and advisors. Sarbanes-Oxley Act: enacted in 2002 to bring transparency to securities markets and eliminate conflict of interest in the industry. Erects a wall between investment bankers and securities analysts. Protects analysts from review, pressure, and oversight by bankers. Short Swing Profits: requires company insiders to return any profit made from the purchase and sale of company stock if both transactions occur within a six-month period. Insider Trading: insider makes a profit by purchasing or selling shares of a corporation prior to disclosure of information to the public. Section 10(b) and Rule 10b-5: prevents insider trading, makes use of material nonpublic information to make a profit in security trading illegal. United States vs Bhagat: NVIDIA won contract to develop X-Box for Microsoft. Background: NVIDIA’s CEO notifies employees of trading blackout on stocks. Bhagat purchases stocks after receiving the email and tips his friend. Issue: Is Bhagat guilty of insider trading and tipping? Decision: Bhagat is found criminally guilty of insider trading/tipping. True Insider: Officer, director, and employees at all levels of the company. Lawyers, accountants, consultants, and other agents hired by the company on a temporary status to provide service/work to company. Those who owe fiduciary duty to the company. Material Information: information about a company that has not yet been made public but will have an effect on its share price when released. Due Diligence: investigation of an audit/potential investment that confirms all the facts of the sale. Business Judgment Rule: protects the corporation’s board of directors is protected from misleading allegations about its business. Equal Employment Opportunities Americans with Disabilities Act (ADA): imposes obligations on employers and providers of public transportation, telecommunications, and accommodations to accommodate people with disabilities. Civil Rights Act 1964: federal statute that makes it illegal to discriminate in employment, housing, transportation, and public accommodations based on race, nationality, color, gender, or religion. Employment Discrimination: Race: employment discrimination against one’s race. National Origin: discrimination against heritage, culture, or country of ones ancestors. Color: discrimination against one’s color. Gender: discrimination against one’s gender. Religious: discrimination based on one’s religion. Defenses: merit/seniority systems Age Discrimination Act (ADEA): prohibits age discrimination practices against employees who are 40 years and older. Bona Fide Occupational Qualification: a true job qualification. Discrimination based on protected classes other than race or color. Sexual Harassment: remarks, touching, intimidation, posting indecent material, and any verbal or physical contact of sexual nature on the job. Affirmative Action Plan: provides certain job preferences to members of minority racial and ethnic groups, females, and other protected applicants when making employment decisions. Employment Laws Workers Compensation Acts: compensate workers and their families when a worker is injured in connection with their jobs. OSHA: federal agency that enforces the Occupational Safety and Heath Act focused on promoting safety in the workplace. Kelley vs Coca-Cola Enterprises: Facts: Kelley was injured by a co-worker while at a mandatory corporate kick-off event. He filed for workers compensation and was denied by Coca-Cola, as they deemed it horseplay. Issue: Is Kelley entitled to workers’ compensation? Decision: Kelley is entitled to workers’ compensation benefits. Consolidated Omnibus Budget Reconciliation Act (COBRA): permits employees and their beneficiaries to continue their group health insurance after the employment ends. Employee Retirement Income Security Act (ERISA): federal act that prevents fraud and other abuses associated with private pension funds. Family Medical Leave Act: act that guarantees workers up to 12 weeks of unpaid leave in a 12-month period to attend family and medical emergencies. Property Law Bailments: temporary placement of control of personal property by one person, the bailor, into the hands of another, the bailee, for a purpose the two parties have agreed on. Ziva Jewlery vs Car Wash Headquarters, Inc.: Facts: Jewelry sales men’s car gets robbed at the car wash while he is not in the car. Issue: Is car wash headquarters liable for the stolen jewelry? Resolution: Car Was Headquarters, Inc. cannot be held liable under the negligence theory. Mislaid Property: owner voluntarily places property somewhere and inadvertently forgets it. Owner of the premises is entitled to take possession except against the rightful owner. Lost Property: owner leaves property because of negligence, finder obtains the title. Abandoned Property: owner discards property with the intent to relinquish his rights to it or gives up any attempts to find mislaid property. Ownership: Possession or Capture: unowned property in its natural state. Rare in today’s society. Purchase or Production: purchasing from its rightful owner, producing a finished product from raw material and supplies. Gift: voluntary transfer of title to property without payment of consideration. 1. Donative intent 2. Delivery (physical or constructive) 3. Acceptance Will or Inheritance: property distributed to beneficiaries in a will and distributed to heirs stipulated in an inheritance statute. Accession: when value of personal property increases because it is added to or improved manufactured means, belongs to owner. If improvement is made wrongly owner acquires value of improved property. Confusion: occurs when fungible goods are commingled, owners share title to goods in proportion to the amount contributed. Divorce: obtain certain rights in the property of the marital estate. Fee Simple: Absolute: highest form of ownership of real property. Definite in duration, no limitation, and does not end upon the occurrence of an event. Defeasible: qualified fee. All of the incidents of an absolute but may be taken away if a specified condition occurs. Adverse Possession: person who wrongfully possesses another’s real property obtains title to that property if certain statutory requirements are met. Statutorily prescribed time period. Open, visible, and notorious. Actual and exclusive. Continuous and peaceful. Hostile and adverse. Eminent Domain: right of the government to expropriate private property for public use with payment of compensation. Non-Possessory Rights: right to use or restrict the use of another person’s land. Kelo vs. City of New London: Facts: city of New London uses eminent domain to seize private property, which was then sold to private developers. Issue: is the city allowed to seize the private property for the developers? Outcome: Court rules in favor of New London stating the seizing qualified as public use.
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