WEEK 3 BUSINESS LAW TALK

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Keiser University *

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Law

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Feb 20, 2024

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WEEK 3 BUSINESS LAW TALK What is a quorum? A quorum is the minimal number of participants required at a meeting to conduct official business. It is an important concept in corporate governance since decisions made in a meeting without a quorum may be invalid. The quorum is often determined by an organization's bylaws or governing rules, which state the number or percentage of members required for the meeting to proceed. For example, if a corporation's bylaws say that a quorum is made up of one-third of its board members, at least one-third of the total board members must be present for any decisions taken during the meeting to be regarded as valid and legal. A quorum serves numerous functions, including ensuring that decisions are made with an adequate representation of the organization's members and prohibiting a minority from acting on behalf of the majority. It is a critical component of democratic decision-making within corporations and other organizations. Understanding the quorum requirement is critical for corporate governance, as it ensures that decisions are taken with the necessary level of representation and legitimacy. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Title VII of the Civil Rights Act of 1964. Title VII of the Civil Rights Act of 1964 is a major federal law in the United States that combats workplace discrimination. Title VII is a key piece of legislation that prohibits discrimination based on race, color, religion, gender, or national origin in the workplace. It is critical in ensuring equality of opportunity and diversity in the workforce. Standouts: 1. Protected Categories: Title VII defines some protected categories, such as race, color, religion, gender, and national origin. It forbids discrimination based on these qualities.

WEEK 3 BUSINESS LAW TALK 2. Prohibition of Discriminatory Activities: The legislation bars a variety of discriminatory activities, including hiring, dismissal, salary, and employment terms, conditions, or privileges. 3. Equal Pay: Title VII encourages equal compensation for equal work, regardless of gender. It tackles gender disparities in wages and works toward pay equity. 4. Establishment of the EEOC: Title VII resulted in the formation of the Equal Employment Opportunity Commission (EEOC), a federal body in charge of enforcing workplace anti-discrimination legislation. Surprising Rules: While Title VII addresses workplace discrimination, legislation does not explicitly protect against sexual orientation or gender identity discrimination. These protections have been expanded via subsequent legal developments and interpretations. Title VII has significantly impacted workplace dynamics, fostering diversity and inclusion. It has enabled individuals to challenge discriminatory practices and made substantial contributions to the establishment of anti-discrimination norms in the workplace. Reference: Legal Information Institute, (n.d.). Title VII of the Civil Rights Act of 1964. Cornell Law School. [https://www.law.cornell.edu/wex/title_vii](https://www.law.cornell.edu/wex/title_vii) Citation: SEC Corporate Law 1.03: Meetings and Voting: https://www.sec.gov/Archives/edgar/data/27419/000110465915078120/a15-22805_1ex3da.htm Harvard Law School. https://corpgov.law.harvard.edu/corporate-law-1-03-meetings-and-voting Not put through Quilbot: Explain the differences between an employee and an independent contractor. I chose this topic because my old commercial floor stripping and waxing business only dealt with independent contractors (many of whom were from other countries).

WEEK 3 BUSINESS LAW TALK Understanding the distinctions between an employee and an independent contractor is crucial in employment and business relationships. Overall Impressions: The classification of workers as employees or independent contractors has significant implications for legal, tax, and benefit purposes. The key differentiators lie in the degree of control, independence, and the nature of the working relationship between the hiring entity and the worker. Standouts: 1. Control: One of the primary factors is the level of control exerted by the hiring entity. Employees typically have more detailed instructions and are subject to the employer's control over work hours, tasks, and methods. Independent contractors, on the other hand, have greater autonomy in performing their work. 2. Tax Implications: Employees have taxes withheld by the employer, while independent contractors are responsible for their own taxes. This includes self-employment tax for contractors, which covers Social Security and Medicare. 3. Benefits: Employees often receive benefits such as health insurance, retirement plans, and paid time off, while independent contractors are responsible for their own benefits. 4. Liability: Employers are generally liable for the actions of their employees within the scope of employment. Independent contractors, being separate entities, are often responsible for their own liability. Surprising Rules: The rules defining employee and independent contractor status can vary, and the determination is not always straightforward. The Internal Revenue Service (IRS) and the Department of Labor (DOL) have guidelines, but misclassification issues can arise. Some states may have additional criteria, making it essential to consider both federal and state rules.

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WEEK 3 BUSINESS LAW TALK In summary, the classification of workers involves nuanced considerations, and the distinctions impact legal obligations and financial responsibilities for both employers and workers. Careful attention to these differences is crucial to compliance with labor laws and tax regulations. Reference: Internal Revenue Service (IRS). (n.d.). Independent Contractor (Self-Employed) or Employee? [https://www.irs.gov/businesses/small-businesses-self-employed/independent-contractor-self- employed-or-employee]( https://www.irs.gov/businesses/small-businesses-self-employed/independent- contractor-self-employed-or-employee ) (already put through Quilbot) Define "Ultra Vires" "Ultra vires" is a legal phrase commonly used in corporation law to describe actions that exceed an entity's powers or authority as allowed by its charter or governing instruments. Overall impressions: The concept of "ultra vires" is vital in establishing legal boundaries for corporations. It prohibits corporations from participating in actions that are beyond the extent of their authorized authority. Standouts: Charter constraints: The term "ultra vires" highlights the need of complying to a corporation's charter constraints. Any activities that go above these limits may be ruled void. Legal Consequences: Engaging in supra vires activities may have legal ramifications. Courts may find such measures unenforceable, and shareholders may have reasons to dispute them. Some jurisdictions have implemented legislation allowing businesses to engage in activities not specifically indicated in their charters, contrary to the conventional focus on "ultra vires" (corporate powers). However, these rules differ, and corporations must grasp the breadth of their legal actions.

WEEK 3 BUSINESS LAW TALK Practical implications: Understanding "ultra vires" is crucial for corporate governance. It guarantees that corporations operate within their permitted powers, in accordance with the law and in the best interests of shareholders. Citation: Cheeseman, H. R. (2019). Business Law: Legal Environment, Online Commerce, Business Ethics, and International Issues (10th Edition). Pearson.

WEEK 3 BUSINESS LAW TALK

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