Exam 1

Question 1

norms and standards in the operation of a business

Answer 1

Business Ethics

Question 2

the term used when natural law proponents violate positive law

Answer 2

Civil Disobedience

Question 3

conduct that compromises an employee’s allegiance to that company

Answer 3

conflict of interest

Question 4

the branch of philosophy that deals with issues of right and wrong in human affairs

Answer 4

ethics

Question 5

the aberrance to one’s values and principles despite the cost and consequences

Answer 5

integrity

Question 6

a standard of ethics that requires that we avoid one-sided analysis

Answer 6

Kant’s categorical imperative

Question 7

those who make decisions baed on circumstance and not on the basis of any predefined standards

Answer 7

moral relativists

Question 8

a system of principles to guide human conduct independent of, and sometimes contrary to, enacted law and discovered by man’s rational intelligence

Answer 8

natural law

Question 9

law enacted and codified by governmental authority

Answer 9

positive law

Question 10

“Above all, do no harm”

Answer 10

premium non nocere

Question 11

the term used when a decision maker views a problem from different perspectives and measures the impact of a decision on various groups

Answer 11

Stakeholder Analysis

Question 12

those who have a stake, or interest, in the activities of a corporation; stakeholders include employees, members of the community in which the corporation operates, vendors, customers, and any others who are affected by the actions and decisions of the corporation

Answer 12

Stakeholders

Question 13

“let the decision stand”; the principle that the decision of a court should serve as a guide or precedent and control the decision of a similar case in the future

Using precedent and following decisions is also known as the doctrine of stare decisis

Answer 13

stare decisis

Question 14

law that includes principles that are expressed for the first time in court decisions

established by the courts appellate courts

Answer 14

case law

Question 15

the body of unwritten principles originally based upon the usages and customs of the community that were recognized and enforced by the courts

Answer 15

common law

Question 16

a body of principles that establishes the structure of a government and the relationship of the government to the people who are governed

Answer 16

Constitution

Question 17

an obligation of law imposed on a person to perform or refrain from performing a certain act

Answer 17

Duty

Question 18

the body of principles that originally developed because of the inadequacy of the rules then applied by the common law courts of England

Answer 18

Equity

Question 19

the order or pattern of rules that society establishes to govern the conduct of individuals and the relationships among them

Answer 19

Law

Question 20

a decision of a court that stands as the law for a particular problem in the future

Precedent is case law

Answer 20

Precedent

Question 21

the rules and regulations parties agree to as part of their contractual relationships

for example contracts

Answer 21

Private law

Question 22

the law that must be followed in enforcing right and liabilities

Answer 22

Procedural Law

Question 23

legal capacity to require another person to perform or refrain from an action

Answer 23

Right

Question 24

the right to be free from unreasonable intrusion by others

Answer 24

right to privacy

Question 25

legislative acts declaring. commanding, or prohibit something

Answer 25

statutory law

Question 26

the law that defines right

Answer 26

substantive law

Question 27

Legal Right | Legal Duty

Answer 27

The Law consists of

Question 28

when you drive a car, what is obeying traffic laws?

Answer 28

duty

Question 29

Rights of individuals or groups that are established and guaranteed by law

Answer 29

Legal Rights

Question 30

Is the Right to bear arms a privacy right ?

Answer 30

No

Question 31

rules made by state and federal administrative agencies.

Answer 31

administrative regulations

Question 32

several layers of law are enacted at different levels of government to provide the framework for business and personal rights and duties. At the base of this framework of laws is constitutional law... sources of law are constitutions, statutes, regulations, and cases. Lawmaking powers are divided among three branches of government: executive; legislative; and judicial. These three branches of government, whether federal or state, create primary sources of law

Answer 32

Sources of the law

Question 33

Where does statutory law come from?

Answer 33

It comes from administrative law (FBI) it includes legislative acts. Both congress and the state legislatures enact statutory law. Example being the Securities act of 1933 or the Sherman Antitrust Act

Question 34

law that the states have all uniformly adopted

Answer 34

Uniform state laws

Question 35

A collection of laws that governs various types of business transactions. how companies do business

Answer 35

Uniform Commercial Code

Question 36

formal agreements between nations

Answer 36

Treaties

Question 37

laws that are equal for all

Answer 37

Laws of equity

Question 38

A court is...

Answer 38

government established tribunal

Question 39

power of a court to act PAGE 20 CHART AS WELL

Answer 39

Jurisdiction

Question 40

to take a case to a higher court for a rehearing

Answer 40

Appeals

Question 41

the highest federal court in the United States

Answer 41

Supreme Court

Question 42

a court that reviews decisions made in lower district courts

Answer 42

Appeals court

Question 43

What are 3 ways to get into federal court

Answer 43

divest of citizenship . example like a suit between a man from New Jersey and a women from Florida suit on a federal statue Where the US party is a suit

Question 44

what court would you go to For a claim of 10k or less?

Answer 44

Small claims court

Question 45

A phase in the litigation process during which the opposing parties may obtain information from each other and from third parties prior to trial.

Answer 45

Discovery

Question 46

is the testimony of a witness taken under oath outside the courtroom before a court reporter

Answer 46

Deposition

Question 47

which court hears appeals?

Answer 47

Supreme Court and appellate court

Question 48

general trial court

Answer 48

A sues B /in an auto collision and damages are 15k.

Question 49

a sues b in violation of civil rights act

Answer 49

federal court

Question 50

know the court procedure and parties involved

Answer 50

Parties involved in the trail are the judge attorney plaintiff and defendant Stages of Trial selection of jury -opening statement direct examination as other party cross examination summation of a case- summaries what they proved

Question 51

commented when a complaint its filed

Answer 51

Lawsuit

Question 52

a process by which two parties resolve conflicts through the use of a specially trained, neutral third party

Answer 52

Alternative Dispute Resolution

Question 53

settling a dispute by agreeing to accept the decision of an impartial outsider

Answer 53

Arbitration

Question 54

A method of settling disputes outside of court by using the services of a neutral third party, called a mediator. The mediator acts as a communicating agent between the parties and suggests ways in which the parties can resolve their dispute. NOT BINDING

Answer 54

Meditation

Question 55

what stage of a trial do the attorneys tell the juries that the point has been proven

Answer 55

Summation

Question 56

ALL STAKEHOLDERS Officers and directors- high pay or reduce stockholders- large profits or reduce employees- favor wages =, benefits and job security or pay less, less beneifts customers fair price, safety or high price, by china, unsafe There are conflicts because they have to balance all the items on chart

Answer 56

Business Ethical Conflicte

Question 57

Promote the general welfare 1) protect consumers 2) fair prices 3) safe products Prevent unfair competition restraint of trade stifle competition prevent price discrimination and price fixing lower prices for consumers higher quality products and services greater innovation Prevent monopolies control markets set prices

Answer 57

Purpose of Government Regulations

Question 58

Characteristics of a monopoly

Answer 58

no alternative place to buy goods and services Set prices Controls the market

Question 59

Why is ethics important ?

Answer 59

Trust

Question 60

# define the problem from the decision makers point of view identify who could be in juiced by the contemplated action Define the problem from the opposing point of view Would you (as the decision maker) be willing to tell your family, your supervisor, your eco, and the board of directors about the planned action Would you be willing to go before a community meeting, a congressional hearing, or a public forum to describe the action with full consideration of the facts and

Answer 60

guidelines for analyzing a contemplated action

Question 61

What is the interest of the investors

Answer 61

Making their invest back and a profit

Question 62

regulations or lawsuits changes behavior of companies purpose is to correct widespread abuses in existing laws where gaps create unfair situations

Answer 62

Outcomes in regulation

Question 63

Different laws that apply to different areas and different protections

Answer 63

Protection of the State Protection of the Person Protection of Public health, safety and morals Protection of property

Question 64

laws prohibiting theft are for:

Answer 64

Protection of the Property

Question 65

Airport security is for:

Answer 65

Protection of the state

Question 66

Criminal laws are for:

Answer 66

Protection of the Person

Question 67

Copyright laws are for:

Answer 67

Protection of property

Question 68

``` Integrity and truthfulness Promise keepingLoyalty- avoiding conflicts of interest fairness doing no harm maintaining confiedntiuality ```

Answer 68

Categories of Ethical Behavior

Question 69

which branch of government interprets the laws

Answer 69

Judicial branch

Question 70

What establishes the rights of people

Answer 70

The constitution

Question 71

3 branches of government

Answer 71

Legislative- makes laws Executive- executes laws | Judicial- interpretes laws

Question 72

delegated powers

Answer 72

War print money

Question 73

police, finical tax, borrow and spend money

Answer 73

Shared powers include

Question 74

Who can coin money?

Answer 74

Federal government only

Question 75

federal law takes precedence over conflicting state law

Answer 75

Federal supremacy

Question 76

broad power without the federal government has no jurisdiction

Answer 76

interstate commerce law

Question 77

can congress regulate commerce between states?

Answer 77

Yes

Question 78

Legislative powers not completely separated between the branches of government.

Answer 78

Shared powers

Question 79

Powers specifically given to the federal government by the US Constitution, for example, the authority to print money.

Answer 79

delegated powers

Question 80

Constitutional limitations of government have to do with?

Answer 80

Individual rights

Question 81

What does the 14th amendment do?

Answer 81

Due process law

Question 82

fair treatment through the normal judicial system, especially as a citizen's entitlement.

Answer 82

Due process

Question 83

Guards against unreasonable searches and seizures

Answer 83

4th amendment (1791)

Question 84

equal protection under the law

Answer 84

5th amendment (1791)

Question 85

can a state tax a non resident business if it doesn't tax a resident?

Answer 85

No

Question 86

prevents a state from treating citizens of other states in a discriminatory manner.

Answer 86

Privileges and Immunities Clause

Question 87

Ways to amend the constitution

Answer 87

Article 5 of the Constitution; 1. Congress to States: 2/3 of each house of Congress approves an amendment and 3/4 of the Senate's legislatures ratify the amendment 2. Constitutional Convention: 2/3 of the States call together a Constitutional Convention. the convention can amend the constitution; amendments take place when 3/4 of the state ratify the new amendments or judicial interpretation

Question 88

Act that minimally restricted the use of injunctions against labor and legalized peaceful strikes, picketing, and boycotts.

Answer 88

Clayton act

Question 89

a court order to dispose of interests that could lead to a monopoly

Answer 89

divestiture order

Question 90

the ability to control price and exclude competitors

Answer 90

market power

Question 91

the charging practice by a seller of different prices to different buyers for commodities of similar grade and quality, resulting in reduced competition or a tendency to create a monopoly

Answer 91

price discrimination

Question 92

a federal statute designed to eliminate price discrimination in interstate commerce

Answer 92

Robinson-Patman Act

Question 93

a federal statues prohibiting combinations and contracts in restraint of interstate trade, now generally inapplicable to labor union activity

Answer 93

Sherman Antitrust Act (1890)

Question 94

LAWS THAT GUARD AGAINST UNFAIRNESS IN CORPORATE TAKEOVER SITUATIONS

Answer 94

takeover laws

Question 95

three times the damages actually sustained

Answer 95

treble damages

Question 96

the anticompetitive practice of requiring buyers to purchase one product in order to get another

Answer 96

Tying

Question 97

facilitate fairness

Answer 97

Purpose of regulation

Question 98

The government enforces regulations through what

Answer 98

administrative agencies