BUSA 2106 Exam 1 Questions and Answers 100%
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Law - ✔✔rules that come from controlling authority that must be obeyed or there is a consequence
Ethics - ✔✔A set of moral principles or values that govern the conduct of an individual or a group
Corporate Social Responsiblity - ✔✔States that corporations and businesses should act with awareness of
the consequences and impact that their decisions will have on others
Maximization of Profits theory - ✔✔also called Shareholder Interest theory) - make profit
Moral Minimum - ✔✔duty to follow the law
Stakeholder Interest Theory - ✔✔have to consider other stakeholders interest in decision
Corporate Citizenship Theory - ✔✔moral responsibility
English Common Law - ✔✔Principles announced in the cases became precedent for later judges deciding
similar case
Legislative Branch - ✔✔is the part of the United States government that creates laws
Judicial Branch - ✔✔includes criminal and civil courts and helps interpret the United States Constitution
Executive Branch - ✔✔the branch of government charged with the execution and enforcementof laws and
policies and the administration of public affairs
Constitution - ✔✔Constitution of the United States of America, States that any law whether federal, state,
or local conflicting with the U.S. Constitution is unconstitutional and, therefore, unenforceable,
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, Established the structure of the federal government, State constitutions, Establish the structure of the state
government
Statue - ✔✔Written laws that establish certain courses of conduct that covered parties must adhere to
Act - ✔✔A bill which has passed through the various legislative steps required for it and which has
become law. Related Terms: Statutes, Legislation, Law, Regulation, Enactment, Bill. Synonymous with the
term enactment or statute
Code - ✔✔A systematic and comprehensive compilation of laws, rules, or regulations that are
consolidated and classified according to subject matter.
Treaty - ✔✔Compact made between two or more nations, Entered into by the president with the advice
and consent of two-thirds of the Senate
Executive Order - ✔✔Issued by the executive branch of government,President of the United States, State
governors
Administrative Agency - ✔✔Agencies that the legislative and executive branches of federal and state
governments are empowered to establish
Case Law - ✔✔the law as established by the outcome of former cases
Common Law - ✔✔the part of English law that is derived from custom and judicial precedent rather than
statutes. Often contrasted with statutory law
Precedent - ✔✔an earlier event or action that is regarded as an example or guide to be considered in
subsequent similar circumstances.
Stare decisis - ✔✔the legal principle of determining points in litigation according to precedent.
State Trial Court - ✔✔of general jurisdiction may hear any civil or criminal case that is not already
exclusively within the jurisdiction of another court. Examples include the United States district courts on
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Pass
Law - ✔✔rules that come from controlling authority that must be obeyed or there is a consequence
Ethics - ✔✔A set of moral principles or values that govern the conduct of an individual or a group
Corporate Social Responsiblity - ✔✔States that corporations and businesses should act with awareness of
the consequences and impact that their decisions will have on others
Maximization of Profits theory - ✔✔also called Shareholder Interest theory) - make profit
Moral Minimum - ✔✔duty to follow the law
Stakeholder Interest Theory - ✔✔have to consider other stakeholders interest in decision
Corporate Citizenship Theory - ✔✔moral responsibility
English Common Law - ✔✔Principles announced in the cases became precedent for later judges deciding
similar case
Legislative Branch - ✔✔is the part of the United States government that creates laws
Judicial Branch - ✔✔includes criminal and civil courts and helps interpret the United States Constitution
Executive Branch - ✔✔the branch of government charged with the execution and enforcementof laws and
policies and the administration of public affairs
Constitution - ✔✔Constitution of the United States of America, States that any law whether federal, state,
or local conflicting with the U.S. Constitution is unconstitutional and, therefore, unenforceable,
Page 1/6
©EmilyCharlene 2024. All Rights Reserved.
, Established the structure of the federal government, State constitutions, Establish the structure of the state
government
Statue - ✔✔Written laws that establish certain courses of conduct that covered parties must adhere to
Act - ✔✔A bill which has passed through the various legislative steps required for it and which has
become law. Related Terms: Statutes, Legislation, Law, Regulation, Enactment, Bill. Synonymous with the
term enactment or statute
Code - ✔✔A systematic and comprehensive compilation of laws, rules, or regulations that are
consolidated and classified according to subject matter.
Treaty - ✔✔Compact made between two or more nations, Entered into by the president with the advice
and consent of two-thirds of the Senate
Executive Order - ✔✔Issued by the executive branch of government,President of the United States, State
governors
Administrative Agency - ✔✔Agencies that the legislative and executive branches of federal and state
governments are empowered to establish
Case Law - ✔✔the law as established by the outcome of former cases
Common Law - ✔✔the part of English law that is derived from custom and judicial precedent rather than
statutes. Often contrasted with statutory law
Precedent - ✔✔an earlier event or action that is regarded as an example or guide to be considered in
subsequent similar circumstances.
Stare decisis - ✔✔the legal principle of determining points in litigation according to precedent.
State Trial Court - ✔✔of general jurisdiction may hear any civil or criminal case that is not already
exclusively within the jurisdiction of another court. Examples include the United States district courts on
Page 2/6
©EmilyCharlene 2024. All Rights Reserved.
