FAU BUL MIDTERM Prof. Gendler
Study Guide Exam Questions and
Actual Detailed Answers 2025-2026
Updated.
private law - Answer regulates between private individuals or groups
public law - Answer regulates between private individuals and the government
civil law - Answer defines rights and responsibilities of persons and government
criminal law - Answer someone commits act against public as a whole
statutory law - Answer assortment of statutes or rules and regulations put forth by
legislations
hierarchy of law - Answer 1. U.S. Constitution
2. Federal Statutes
3. State Statutes
4. Common Law
common law - Answer collection of legal interpretation made by judges and are the law
unless revoked by new statutory law
precedent - Answer past decision of similar cases guide, later decisions by providing greater
stability and predictability to the law
stare decisis - Answer when courts rely on precedent, they are obeying the principle of stare
decisis--standing by their decision
restatement of the law - Answer summaries of common law rules in a particular area of law
that have been enacted in most states
, business ethics - Answer the application of ethics to the special problem experienced by
business people
stakeholders - Answer groups of people affected by the firm's decisions
stakeholders include - Answer employees, overseas shareholders, customers, management,
community, and future generations
values - Answer basis unit of business ethics
public disclosure - Answer if the public knew about the decision how would they want to
decide
universialization test - Answer what would the world be like if our decisions were made by
everyone else?
theories of business ethics - Answer ethical relativism, absolution, consequentialism,
utilitarianism, principles of rights, virtue ethics
ethical relativism - Answer realistically use own ethics, denies the existence of objective
standards, individuals must evaluate actions based what they feel is before for themselves,
individuals must evaluate actions based what they feel is best for themselves
absolutism - Answer individuals must defer to a set of rules to guide them through the
ethical decision making process
consequentialism - Answer requires inquiry into the consequence of a decision when
addressing ethical dilemmas
utilitarianism - Answer managers should take actions that provide the greatest good after
having subtracted harm associated with the action in question
principles of rights - Answer whether a business decision is ethical depends on how the
decision affects all those involved
Study Guide Exam Questions and
Actual Detailed Answers 2025-2026
Updated.
private law - Answer regulates between private individuals or groups
public law - Answer regulates between private individuals and the government
civil law - Answer defines rights and responsibilities of persons and government
criminal law - Answer someone commits act against public as a whole
statutory law - Answer assortment of statutes or rules and regulations put forth by
legislations
hierarchy of law - Answer 1. U.S. Constitution
2. Federal Statutes
3. State Statutes
4. Common Law
common law - Answer collection of legal interpretation made by judges and are the law
unless revoked by new statutory law
precedent - Answer past decision of similar cases guide, later decisions by providing greater
stability and predictability to the law
stare decisis - Answer when courts rely on precedent, they are obeying the principle of stare
decisis--standing by their decision
restatement of the law - Answer summaries of common law rules in a particular area of law
that have been enacted in most states
, business ethics - Answer the application of ethics to the special problem experienced by
business people
stakeholders - Answer groups of people affected by the firm's decisions
stakeholders include - Answer employees, overseas shareholders, customers, management,
community, and future generations
values - Answer basis unit of business ethics
public disclosure - Answer if the public knew about the decision how would they want to
decide
universialization test - Answer what would the world be like if our decisions were made by
everyone else?
theories of business ethics - Answer ethical relativism, absolution, consequentialism,
utilitarianism, principles of rights, virtue ethics
ethical relativism - Answer realistically use own ethics, denies the existence of objective
standards, individuals must evaluate actions based what they feel is before for themselves,
individuals must evaluate actions based what they feel is best for themselves
absolutism - Answer individuals must defer to a set of rules to guide them through the
ethical decision making process
consequentialism - Answer requires inquiry into the consequence of a decision when
addressing ethical dilemmas
utilitarianism - Answer managers should take actions that provide the greatest good after
having subtracted harm associated with the action in question
principles of rights - Answer whether a business decision is ethical depends on how the
decision affects all those involved
