E.Ch. 4 Flashcards
1
Q
Types of Law
A
- Civil
- Criminal
2
Q
Civil Law
A
defines the rights and duties of individuals and organizations
3
Q
Criminal Law
A
prohibits specific actions and imposes punishment for breaking the law
4
Q
Differences
A
- criminal law enforced by the state or nation
- civil laws enforced by individuals
5
Q
Procompetitive legislation
A
Laws passed to prevent the establishment of monopolies, inequitable pricing practices, and other practices that reduce or restrict competition among business
6
Q
Risk Assessment
A
A group that failed in its duties to stakeholders during the most recent recession (assessors of financial products)
- Misled investors and stakeholders
- more oversight of credit rating firms in the future
7
Q
Sarbanes-Oxley Act
A
Study on Guide
