A shop in which the employer, by agreement with a union, hires and retains in employment only union members in good standing. • Closed shops were made illegal under the federal Labor–Management Relations Act. — Also termed closed union shop. See PREHIRE AGREEMENT. Cf. closed union under UNION. [Cases: Labor Relations 251. C.J.S. Labor Relations […]
salary. An agreed compensation for services — esp. professional or semiprofessional services — usu. paid at regular intervals on a yearly basis, as distinguished from an hourly basis. • Salaried positions are usu. exempt from the requirements of the Fair Labor Standards Act (on overtime and the like) but are subject to state regulation. Cf.
An opinion by one or more judges who disagree with the decision reached by the majority. — Often shortened to dissent. — Also termed minority opinion.
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restraint of trade. 1. A limitation on business dealings or professional or gainful occupations. 2. Antitrust. An agreement between or combination of businesses intended to eliminate competition, create a monopoly, artificially raise prices, or otherwise adversely affect the free market. • Restraints of trade are usu. illegal, but may be declared reasonable if they are
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turn state’s evidence, vb. To cooperate with prosecutors and testify against other criminal defendants (after hours of intense negotiations, the suspect accepted a plea bargain and agreed to turn state’s evidence).
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Underwriting in which an investment banker agrees to direct, but not guarantee, the public sale of the issuer’s securities. • The underwriter, or selling group, sells the securities as agent for the issuer, and any unsold securities are never issued.
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agunah (ah-goo-nah), n. Jewish law. 1. A woman whose husband has deserted her or otherwise disappeared. • She may not remarry until either proving his death or obtaining a divorce. 2. A woman whose husband will not agree to a divorce.
drunk, adj. Intoxicated; (of a person) under the influence of intoxicating liquor to such a degree that the normal capacity for rational thought and conduct is impaired.
A bailment in which the bailee agrees to sell the goods on behalf of the bailor; a consignment.
Master of Laws. A law degree conferred on those completing graduate-level legal study, beyond the J.D. or LL.B. — Abbr. LL.M. Cf. JURIS DOCTOR; LL.B; DOCTOR OF LAWS.