Negotiable instruments are financial securities that may be transferred by endorsement or by the holder’s simple delivery. The primary example of a negotiable instrument is a check. The UNIFORM COMMERCIAL CODE, which has been adopted by all states, specifies the laws that govern negotiable instruments.
Webster’s defines negligence as habitual failure to do the required things or carelessness in manner or appearance. Business law authors Jane Mallor et al. define negligence as “conduct that falls below the level necessary to protect others against unreasonable risks of harm.”
The National Mediation Board (NMB), established by the 1934 amendments to the Railway Labor Act of 1926, is a federal agency that facilitates labor-MANAGEMENT relations within two of the nation’s transportation modes: railroads and airlines.
The National Labor Relations Board (NLRB) is a federal agency created in 1935 to enforce the WAGNER ACT (National Labor Relations Act, NLRA), the primary law governing relations between UNIONs and employers in the private sector of the U.S. economy.
The National Industrial Recovery Act (NIRA, 1933) allowed price and output agreements among firms in an industry and permitted greater labor organizing and COLLECTIVE BARGAINING. In effect, NIRA suspended ANTITRUST LAWs regarding restraint of trade.