business law Collin College -Business Law: FINAL EXAM Study Guide correctly answered

business law Collin College -Business Law: FINAL EXAM Study Guide correctly answeredconstitution - correct answer The document that sets forth the framework of a government and its relationship to the people it governs. Common law - correct answer based upon the current standards or customs of the people. positive law - correct answer Law that is dictated from above by a sovereign or other central authority business ethics - correct answer Ethical principles used in making business decisions Guidelines - correct answer Laws made by administrative agencies stare decisis - correct answer Doctrine that requires lower courts to adhere to existing case law in making decisions ordinances - correct answer Legislative actions taken by city or town councils statutes - correct answer Laws enacted by state or federal legislative bodies case law - correct answer The type of law made when an appellate court endorses a rule to be used in deciding court cases ethics - correct answer A collection of standards of conduct and moral judgment forming the basis for a reasoned, impartial decision as to what is right and what is wrong Thomas Jefferson - correct answer author of the Declaration of Independence