MIDTERM Flashcards
What are the four sources of law in the US?
- US and State Constitutions
- Statutes passed by Congress and State and City Legislatures
- Regulations created by Administrative Agencies
- Case Law / Common Law (Court Decisions)
What / who is bound by the US constitution?
The people in the Federal Government and the State Government / private companies that take federal funding (e.g. a construction company working on the behalf of the government or a private school taking federal funding for a certain task)
Is the right of judicial review expressly set out in the US Constitution?
The Judicial Review is not mentioned in the US Constitution.
Which alternative dispute resolution looks most like a trial?
Arbitration
What is driving the trend toward more ethical business practices in the US?
Younger people are looking for jobs at companies that are ethical
With regard to ethical business practices what is meant by tone at the top?
Tone at the top is a term that is used to describe an organization’s general ethical climate. It sets forth a company’s cultural environment and corporate values.
Top level executives set the tone for ethical decisions in their company.
Does business ethics vary from country to country?
Yes, depending on the country taken into account, business ethics can be very different (ex.corruption, facilitation payments, it goes with the flow). Many countries adopt CSR (corporate social responsibility) when doing business in countries that have little law and regulation especially in regards to security.
What are the four reasons why a company should behave ethically?
Business Ethics focuses on what constitutes right or wrong behavior in the business world and how business people apply moral and ethical principles to situations that arise in the workplace. Companies should behave ethically according to four main reasons:
- Legal Implications (texes, illegal discrimination..)
- PR Impact
- Safety Risks
- Financial Implications
What are the five components of a well-structured corporate compliance program?
- Anti-corruption and anti bribery
- Product trade and import compliance
- Antitrust
- Privacy
- Corporate practices
What trend has the younger members of the work-force encourage in respect to a corporate focus?
Younger gen is demanding and driving change to more ethical business practices
- The continuing distribution of organizations
- The availability of enabling technologies and social collaboration tools
- The coming shortage of knowledge workers
- The demand for more work flexibility
- Pressure for more sustainable organizations and workstyles
What is the tort of trespassed land?
Enters onto, above, or below the surface of the land that is owned by another without the owner’s permission or legal authorization.
What is the tort of wrongful interference with a contractual relationship?
A valid, enforceable contract must exist between two parties
A third party must know that this contract exists.
If a third party must intentionally induce a party to breach the contract. (Intentionally getting someone to default on an agreement)
What is the tort of wrongful interference with a business relationship?
Business persons devise countless schemes to attract customers, but they are prohibited from unreasonably interfering with another’s business in their attempts to gain a share of the market.
What are the two forms of two types of defamation?
Libel (written)
Slander (spoken)
What is the tort of invasion of privacy?
Implied right in the constitution and also safeguarded by tort law
4 acts included: Appropriation of Identity. Ex) Using the name, likeness, photos of another person without permission.
false light
Public disclosure of private facts
Appropriation of identity
Intrusion into an individual’s affairs or seclusion