Short Essay Test 5/6

What differentiates disparate treatment discrimination from disparate impact discrimination? Be very comprehensive and specific in your answer and set forth an example of each.

How does the Fair Labor Standards Act affect child labor, minimum wage and overtime wages?

Define those who qualify for unpaid family medical leave under the Family and Medical Leave Act of 1993. What benefits may be obtained under the act?

Define and differentiate between the Closed Shop, the Union Shop and the Agency Shop? How does each designation affect hiring?

Define and distinguish an employer lockout, picketing and secondary picketing.

Are race and color distinctions mutually exclusive under the Civil Rights Act of 1964? Can two persons be of the same race, but of different colors under the act? What are the five racial groups defined by the act?

Discrimination based upon religion is unlawful. Does this mean that all religious practices are protected absolutely under the act? What actions, if any must an employer take in consideration of an employee’s religious beliefs?

What differentiates the public corporation from the private corporation? How does the not-for-profit corporation differ in purpose and structure from the for-profit? What is the primary characteristic of the closely held corporation?

What is an Ultra Vires act within the context of corporate action? What remedies, if any, are available to innocent shareholders who played no role in the Ultra Vires act? What liabilities, if any, exist for a corporation or an individual actor that commits the Ultra Vires act?

What is the extent of the liabilities of partners in a general partnership? How does the limited partnership differ from the general partnership? What actions, if any, should the partnership take during any “winding up” period?

How are sole proprietorships taxed? How are partnerships taxed and is there any difference between taxing the general vs. limited partnership? How is a corporation taxed and what does “double taxation” mean with regard to the corporation?

What is the greatest advantage to business owners of a corporation vs. other business entities? Which business entities require permission from the state to become created? What is the basic governing document of the modern corporation?

What is the distinction between corporate articles of incorporation and corporate bylaws? Are the bylaws public record as are the articles of incorporations? Must the corporation adopt a seal in either the articles or the bylaws?

In corporate financing, what are the three primary types of debt instruments used? How does a debenture differ from a bond? How does the bond differ from the note in corporate debt structures?