Exam 1 (Chapter 1&2) Flashcards

(68 cards)

1
Q

The body of rules governing individuals and their relationships

A

Law

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2
Q

Those laws enacted by some authorized governmental body

A

Public law

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3
Q

State and federal constitutions and statutes are examples of _________ law

A

Public

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4
Q

Those laws developed by individuals

A

Private law

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5
Q

Landlords usually having regulations for their tenants such as limits on what they can have on their balconies is an example of _______ law

A

Private

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6
Q

A violation that is wrong against society

A

Criminal law

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7
Q

A violation that is wrong against another person or persons

A

Civil law

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8
Q

Running a red light is an example of ______ law

A

Criminal

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9
Q

Laws that give rights and responsibilities

A

Substantive laws

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10
Q

Provide the means for enforcing substantive rights

A

Procedural laws

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11
Q

A developed body of law common that could be used to settle disputes

A

Common law

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12
Q

Stare decisis translates to…

A

“Let the decision stand”

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13
Q

A law passed by some governmental body and written in some form

A

Statutory law (aka codified law)

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14
Q

A body of law that attempts to do justice when the law does not provide a remedy, when the remedy is not enough, or when the application of the law is terribly unfair

A

Equity

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15
Q

Courts of equity could issue order, also know as _____, prohibiting certain conduct

A

Injunctions

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16
Q

What are the five purposes of law?

A

Keeping order, influencing conduct, honoring expectations, promoting equality, and law as the great compromiser

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17
Q

What are the 3 characteristics of law?

A

Flexibility, consistency, and pervasiveness

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18
Q

Belief that law’s authority comes from a higher and eternal authority and that any law that violates these natural laws is morally wrong.

A

Natural law theory

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19
Q

Slavery is a violation of which theory?

A

Natural law

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20
Q

Belief that that law is whatever those who are in charge say the law should be, that law comes from power

A

Power theory

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21
Q

Allow only those laws that serve to offer fairness, equality, and opportunity. Laws that deny due process or the right to be heard, are morally wrong

A

Justice theory

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22
Q

Provides that only those laws that serve to create and preserve order are valid. Allow laws that control behavior or provide conduct guidelines

A

Order Theory

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23
Q

Written laws enacted by some governmental body with the proper authority - legislatures, city governments, and countries - that are published and made available for public use and knowledge

A

Statues

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24
Q

Protect general rights such as speech, religion, and property

A

Constitutions

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25
Contains all the federal agencies' regulations, such as the rules and forms required for consumer loans
Code of Federal Regulations
26
Laws of the executive branch of the federal government that deal with those matters under the direct control of that branch
Executive orders
27
Contain the states' criminal laws, laws for incorporation, laws governing partnerships, and contract laws
State codes
28
Laws that are drafted by groups of businesspeople scholars, and lawyers in an effort to maker interstates business less complicated; Contracts for the international sale of goods (CISG)
Uniform laws
29
Governs contracts for the sale of goods, commercial paper, security interests, and other types of commerical transactions
Uniform Commercial Code (UCC)
30
A form of statues, within their (cities, counties, townships) areas of power or control
Ordinances
31
An agreement between or among nations signed by the leaders of the nations and ratified by the nations' governing bodies
Treaty
32
Treaties among two nations
Bilateral treaties
33
Treaties among serval nations
Multilateral treaties
34
A reflection of widely followed standards of behavior
Universal treaties
35
Allows parties to decide how they want their legal relationship to be governed
Party autonomy
36
A theory that protects governments from their actions being reviewed by courts in other countries
Act of state doctrine
37
Focuses on how a business interacts with the community, the environment, and its neighbors
Business ethics
38
Codified law; law created and enforced by governmental entities
Positive law
39
Standards of behavior beyond legal requirements and grounded in various theories related to definitions of ethics
Ethical standards
40
Religious beliefs or divine revelations. This kind of law never changed although statues and rules might; Ethical standards established by natural law
Divine Command theory or natural law theory
41
Establishes moral standards according to the situation in which the ethical dilemma occurs
Moral relativism (aka: situational or circumstantial ethics)
42
Requires that we act in the best interests of the most people
Utilitarianism (aka: greatest happiness principle)
43
Requires us to act in a way that everyone would agree is "the right thing to do"; What is best for everyone
Theory of justice or the social contract
44
Under _____ theory, we all have rights that cannot be infringed and the government's job is to enforce those rights
Rights
45
In terms of ethical dilemmas, which theory asks "is it legal", "is it balanced", and "how does it make me feel"?
Blanchard and Peale
46
In terms of ethical dilemmas, which theory thinks employees should ask himself/herself whether he would be willing to see it described by a critical reporter on the from page of their local paper?
Front-Page-of-the-Newspaper Test
47
In terms of ethical dilemmas, which theory asks "How would I view the issue if I stood on the other side of the fence"?
Laura Nash and Perspective
48
In terms of ethical dilemmas, which theory consists of compliance, contribution, and consequences
Wall Street Journal Model
49
In terms of ethical dilemmas, which theory says "Do unto others as you would have them do unto you", "What if everyone was behaving as I am behaving?"
Kant's Categorical Imperative/ Golden Rule
50
Phrases such as "Everybody else does it", "If we don't do it, someone else will", "That's the way it has always been done", "It doesn't really hurt anyone", "I was just following orders", etc., are examples of why we fail to reach good decisions in _________ dilemmas
Ethical
51
Those who are affected by business decisions
Stakeholders
52
The business should consider the needs and interests of all of its stakeholders in resolving ethical dilemma it faces
Social responsibility
53
The phase in which the industry is aware of a problem
Latency phase
54
Stage that begins when the popular press reports on an issue and raises questions
Awareness stage
55
When ethical employees are rewarded and unethical conduct is punished
Tone at the top
56
Mandates the Federal Sentencing Commission to examine the types of things companies can do to improve the ethical culture, thereby reducing the risk of misconduct and earning sentence reductions for companies that attempt to create an ethical culture but still have a legal lapse
Sarbanes-Oxley
57
The ethical tone of a company that can be enhanced by factors such as having a code of ethics, a means for employees to report misconduct anonymously, and sanctions and terminations for those employees and officers who violate the law and company rules
Ethical culture
58
Where employees can anonymously report ethical violations
Hotline
59
Theory of law that addresses the best way to approach the characteristics and role of law
Jurisprudence
60
Laws passed by state legislatures including uniform laws on contracts and business organizations such as the Uniform Commercial Code
State statutes
61
Regulations made known by state agencies
State administrative regulations
62
Group of nations working collectively for uniform laws and barrier-free trade
European Union
63
Ethical standards offset by behavior of norms and culture
Ethical norms
64
Which philosopher believed reason is unaffected by desire
Aristotle
65
Which philosopher believed rule of action which is prescribed by some superior and which the inferior is bound to obey
Blackstone
66
Prisoners of war
Geneva Convention
67
Diplomatic relations
Vienna Convention
68
International adoption
Hague Convention