BUL 4421 Gendler Midterm Review FAU (
Chapters 1-5, 7-9, 12)
Save
Terms in this set (234)
1. Agency Law
Relevant areas of business 2. Contracts
law 3. Employment and Labor Law
4. Employment Discrimination
Relevant areas of business Human Resource Management
law are applicable to
Regulates disputes between private individuals or
Private Law
groups
Regulates disputes between private individuals and
Public Law
government
Delineates the rights and responsibilities implied in
Civil Law relationships between persons and between persons
and their government
Regulates incidents which someone commits an act
Criminal Law
against the public as a whole
1. US Constitution
2. Federal Statutes
Hierarchy of Laws 3. State Constitution
4. State Statutes
5. Common Law
Collection of legal interpretations made by judges,
Common Law
and are law unless revoked by new statutory law
, Past decisions in similar cases that guide later
Precedent decisions thereby providing greater stability and
predictability to the law
In which rulings made in higher courts become
Stare Decisis
binding precedent for lower courts
"Standing by their Stare Decisis
decision"
When courts rely on Stare Decisis
precedent, they are
obeying the principle of
Summaries of common law rules in a particular area of
Restatement of the Law
the law that have been enacted in most states
Natural Law, Legal Positivism, Historical School, Legal
Schools of Jurisprudence
Realism and Cost Benefit Analysis
Describes certain ethical laws and principles believed
Natural Law to be morally right and "above" the laws devised by
humans
Sees our proper role as obedience to duly authorized
Legal Positivism
law, and the law is distinct from morality
Following tradition or custom to shape the law,
Historical School
closely linked with the doctrine of stare decisis
Judges should consider more than just the law;
Legal Realism consider factors such as social and economic
conditions
If law yields more benefits than costs then we saved
Cost Benefit Analysis resources we can use to obtain more goods and
services
The application of ethics to the special problems and
Business Ethics
opportunities experienced by business people
, - The legality of the decision in choosing a method of
Minimal Standards for production
firms to be ethical - How to compete with competing firms
- Social responsibilities of the firm
- Who would this decision affect?
WPH Framework for - What is the Purpose of the decision?
Business Ethics - What are the guidelines on How to make the
decision?
The "WPH" in WPH Who, Purpose and How
Framework for Business
Ethics stands for
The many groups of people affected by the firm's
Stakeholders
decisions
- Owners or shareholders
- Employees
Who are stakeholders of a - Customers
firm? - Management
- The general community where the firm operates
- Future generations
When we think about the Values
ultimate reason or
purpose for why we make
decisions in a business
firm, we turn to the basic
unit of business ethics,
which is
Positive abstractions/notions that capture our sense
Values
of what is good or desirable
Values are _____ that Ideas
underlie conversations
about business ethics
We derive our ethics from Interplay of values
the
Chapters 1-5, 7-9, 12)
Save
Terms in this set (234)
1. Agency Law
Relevant areas of business 2. Contracts
law 3. Employment and Labor Law
4. Employment Discrimination
Relevant areas of business Human Resource Management
law are applicable to
Regulates disputes between private individuals or
Private Law
groups
Regulates disputes between private individuals and
Public Law
government
Delineates the rights and responsibilities implied in
Civil Law relationships between persons and between persons
and their government
Regulates incidents which someone commits an act
Criminal Law
against the public as a whole
1. US Constitution
2. Federal Statutes
Hierarchy of Laws 3. State Constitution
4. State Statutes
5. Common Law
Collection of legal interpretations made by judges,
Common Law
and are law unless revoked by new statutory law
, Past decisions in similar cases that guide later
Precedent decisions thereby providing greater stability and
predictability to the law
In which rulings made in higher courts become
Stare Decisis
binding precedent for lower courts
"Standing by their Stare Decisis
decision"
When courts rely on Stare Decisis
precedent, they are
obeying the principle of
Summaries of common law rules in a particular area of
Restatement of the Law
the law that have been enacted in most states
Natural Law, Legal Positivism, Historical School, Legal
Schools of Jurisprudence
Realism and Cost Benefit Analysis
Describes certain ethical laws and principles believed
Natural Law to be morally right and "above" the laws devised by
humans
Sees our proper role as obedience to duly authorized
Legal Positivism
law, and the law is distinct from morality
Following tradition or custom to shape the law,
Historical School
closely linked with the doctrine of stare decisis
Judges should consider more than just the law;
Legal Realism consider factors such as social and economic
conditions
If law yields more benefits than costs then we saved
Cost Benefit Analysis resources we can use to obtain more goods and
services
The application of ethics to the special problems and
Business Ethics
opportunities experienced by business people
, - The legality of the decision in choosing a method of
Minimal Standards for production
firms to be ethical - How to compete with competing firms
- Social responsibilities of the firm
- Who would this decision affect?
WPH Framework for - What is the Purpose of the decision?
Business Ethics - What are the guidelines on How to make the
decision?
The "WPH" in WPH Who, Purpose and How
Framework for Business
Ethics stands for
The many groups of people affected by the firm's
Stakeholders
decisions
- Owners or shareholders
- Employees
Who are stakeholders of a - Customers
firm? - Management
- The general community where the firm operates
- Future generations
When we think about the Values
ultimate reason or
purpose for why we make
decisions in a business
firm, we turn to the basic
unit of business ethics,
which is
Positive abstractions/notions that capture our sense
Values
of what is good or desirable
Values are _____ that Ideas
underlie conversations
about business ethics
We derive our ethics from Interplay of values
the
