wex articles

A form of business organization.  Though generally a creature of state law, some federal laws apply to some co-ops as well.  Co-ops differ from corporations and other business organizations both in their essentially democratic nature and in that their focus is not primarily to fulfill the fiduciary needs of shareholders but to meet some common need of members.  There are exceptions to this general rule.

A group of employees who have a clear and identifiable community of interests with one another and that are represented by a single labor union in dealings with management such as collective bargaining.  The "appropriateness" of a bargaining unit is determined at the discretion of the Regional Director of the Board.

Definition

Federal statute setting criminal and civil penalties for falsely billing the government, over-representing the amount of a delivered product, or under-stating an obligation to the government.  The False Claims Act may be enforced either by the Justice Department or by private individuals in a qui tam proceeding.

Abandoned property: an overview

Personal property left by an owner who intentionally relinquishes all rights to its control.  Real property may not be abandoned. See Adverse Possession.

At common law, a person who finds abandoned property may claim it.  To do so, the finder must take definite steps to show their claim.  For example, a finder might claim an abandoned piece of furniture by taking it to her house, or putting a sign on it indicating her ownership.

Knock-and-announce rule: an overview

Under the common law knock-and-announce rule, a police officer executing a search warrant generally must not immediately force his or her way into a residence. Instead, he or she must first knock, identify himself or herself and his or her intent, and wait a reasonable amount of time for the occupants to let him or her into the residence.

Abortion: an overview

In 1973, Roe v. Wade, 410 U.S. 113, changed the legal status of abortion by striking down a Texas law that criminalized abortion except as a means of saving the mother’s life. The case pitted individual privacy rights against States’ interest in regulating the life of the fetus.

Definition

A term in a loan agreement that requires the borrower to pay off the loan immediately under certain conditions.