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Definition Of Fair Labor Standards Act:

Fair Labor Standards Act Federal legislation from 1938 that established minimum wage, overtime pay, recordkeeping, and child labor standards affecting full-time and part-time workers in the private sector, and in federal, state, and local governments.
Passage of the act was designed to improve the living conditions of working families.

Other Definition Of Business Terms:

Fair Market Purchase Option
Fair Market Rent
Fair Market Value
Fair Market Value Lease
Fair Price Amendment
Fair Trade

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