The Uniform Partnership Act defines business partnerships in the US, including profit sharing and decision-making. It was revised in the 1990s to better reflect modern partnerships, allowing partners to disassociate and giving more freedom to restrict rights. The Uniform Partnership Act, also known as the UPA, is a set of legal guidelines that define a […]
The Sarbanes-Oxley Act of 2002 was created to prevent accounting fraud in publicly traded companies. It includes provisions for the SEC to set new rules and established the Public Company Accounting Oversight Board to monitor reforms. The act increased accountability and transparency, but some critics argued that it would disproportionately impact small businesses. The Sarbanes-Oxley […]
The Indian parliament enacted the Information Technology Act in 2000, legalizing digital signatures on most commercial agreements and contracts and creating mechanisms to prevent identity theft and fraud during digital transactions. The act was based on the United Nations Model Law on Electronic Commerce. An amendment in 2008 added tougher penalties for companies that fail […]
The Sedition Act makes it a felony to conspire against the US government or publish false writing against the government, Congress, or President with intent to defame or incite opposition. Those accused of libel may defend themselves with evidence, and the act is in force until March 3, 1801. SEC. Let it be implemented. . […]
The Class Action Fairness Act (CAFA) moves class action lawsuits from state courts to federal courts for fairer trials. Cases exceeding $5 million and involving plaintiffs from different states are relegated to federal courts. Proponents argue that it dilutes bias and ensures consistent judgments, while opponents argue that state courts are more inclined to rule […]
The Economic Espionage Act (EEA) is a US federal law that criminalizes the theft of trade secrets, punishable by up to 15 years in prison and a fine of up to $500,000. The law also allows for the confiscation of assets acquired through theft. The EEA applies to foreign companies that steal US trade secrets […]
During the Great Depression, President Roosevelt introduced the New Deal, including the Emergency Relief Appropriation Act, which created the Works Progress Administration (WPA) and other employment programs. The WPA employed millions of Americans in public works projects, arts, and literacy programs. The Federal Art Project, a branch of the WPA, employed artists to create posters […]
The Homeowners Protection Act (HPA) protects homeowners with private mortgage insurance (PMI) and requires lenders to cancel PMI payments once the loan balance is below 78% of the original home value. Borrowers can also request cancellation at 80%. PMI is paid by the borrower and allows loans above 80% of a home’s value. The HPA […]
The Gramm-Leach-Bliley Act of 1999 allowed financial firms to merge and offer multiple services to customers. It also changed the way consumer information is shared across financial sectors, with provisions in place to protect privacy. Critics argue it contributed to the US economic collapse, but others disagree. The Gramm-Leach-Bliley Act, sometimes referred to as the […]
The Alien Tort Claims Act allows aliens in the US to bring civil claims in cases where laws violate international standards or treaties. It was introduced in 1789 and used in human rights lawsuits, providing a mechanism for victims to sue in situations where their rights have been violated. While useful, some fear the law […]
The Age Discrimination in Employment Act protects workers over 40 from age-based harassment, biased hiring, and wage discrimination. Employers with 20 or more employees are covered, but there are exceptions for independent contractors and some political appointees. Employers can ask about age but cannot use it to intimidate or dissuade applicants. Age restrictions in job […]
The Workers’ Compensation and Rehabilitation Act established Q-Comp as the regulatory agency for Queensland’s workers’ compensation scheme. It provides income replacement payments to injured workers in exchange for waiving their right to sue their employer. The act evolved from the 1905 Workers’ Compensation Act, which established the principle of no-fault. The 1916 Workers Compensation Act […]
The Identity Theft Protection Act was passed in response to the growing incidence of identity theft and computer fraud in the US. The law gives consumers the right to file a police report and have control over their credit file, while also imposing higher security standards for companies’ use of personal data. Credit freezes are […]
The National Housing Act was passed in 1934 to help Americans afford housing and home loans during the Great Depression. The act created the Federal Housing Administration (FHA) to ensure safe housing and a stable mortgage market, and the Federal Savings and Loan Insurance Corporation to prevent unfair foreclosures. The act allowed the government to […]
The Fair Credit Billing Act protects US consumers from unfair billing practices by creditors for open accounts. Consumers have the right to dispute errors and are not responsible for unauthorized charges or items not received. Disputes must be made in writing within 60 days, and creditors must investigate and resolve the issue within 90 days. […]
The Child Online Protection Act aimed to protect children from harmful online material, but was declared unconstitutional in 2009. It required businesses with adult content to collect personal identification to verify age, but had exceptions for educational material. Parents are responsible for their children’s online safety, but the government has a role in preventing access […]
Congress passes legislation, subject to judicial review, with specific topics limited by a constitution. Bills can be introduced by a single representative or a group, and evaluated by committees. Passage by the entire congress is required, with the ability to override a veto. Acts vary in scope and meaning, from establishing the Treasury to creating […]
The UCCJEA is a US law that determines which court has jurisdiction over child custody cases that cross state lines. It was updated in 1997 to comply with federal law and includes provisions for emergency jurisdiction and exclusive jurisdiction. The law also streamlines proceedings and protects against child abduction. All states except for Massachusetts are […]
The Uniform Gifts to Minors Act and Uniform Transfers to Minors Act allow assets to be transferred to minors without a trust fund and taxed according to the child’s tax bracket. The newer act has no limits on the types of assets and a later age of maturity. The guardian manages the assets until the […]
The Taft-Hartley Act, also known as the Labor and Management Relations Act, amended the National Labor Relations Act by adding prohibited activities to labor and giving the federal government the power to issue injunctions to end strikes. It also required union leaders to sign statements swearing they were not communists and gave management the power […]
