What is Fair Labor Standards Act?

Legal Definition
The Fair Labor Standards Act of 1938 (abbreviated as FLSA; also referred to as the Wages and Hours Bill) is a federal statute of the United States. The FLSA introduced the forty-hour work week, established a national minimum wage, guaranteed "time-and-a-half" for overtime in certain jobs, and prohibited most employment of minors in "oppressive child labor", a term that is defined in the statute. It applies to employees engaged in interstate commerce or employed by an enterprise engaged in commerce or in the production of goods for commerce, unless the employer can claim an exemption from coverage.
-- Wikipedia
Legal Definition
A federal statute that regulates hours, wages, and working conditions of employees and also child labor. It regulates minimum wage and the right to overtime pay. It also prohibits oppressive child labor.

http://www.law.cornell.edu/uscode/29/usc_sup_01_29_10_8.html
Legal Definition
a federal law, the Wages and Hours Act, that regulates the hours worked and wages paid for companies dealing in interstate commerce.