What Legal Structure Determines Minimum Wage and Overtime Pay

question 57

Multiple Choice

What legal structure determines minimum wage and overtime pay?

• A)Civil Liberties Act
• B)the hiring company's salary administration policy
• C)Fair Labor Standards Act
• D)Minimum Wage Act

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Definitions:

Secondary Promises

Commitments made by a third party to assume responsibility for another's debt or obligation if the original party fails to perform.

Statute of Frauds

An established legal doctrine stipulating some contractual arrangements need to be formalized in writing and authenticated by the signatures of all parties for enforceability.

Third-Party Debts

Debts that involve a creditor and debtor, with a third party also playing a role, either as a guarantor or through some other capacity.

Promissory Estoppel

A legal principle where a promise is enforceable by law, even if made without formal consideration, when a promisor has made a promise to a promisee who then relies on that promise to his or her detriment.