BUL 4421-Midterm FAU Gendler questions and answers with solutions 2025.

BUL 4421-Midterm FAU Gendler questions and answers with
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solutions 2025 b b




1. Relevant areas of business law applicable to human resource management
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involve::ANSAgencyLaw, Contracts,EmploymentandLaborLaw, & EmploymentDis-
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crimination.
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2. Private Law: ANS Regulates disputes between private individuals or groups.
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3. Public Law:ANSRegulates disputes between private individuals or groups.
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E.g.Disputes between landlord & tenant governed by private law.
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4. Civil Law: ANS Delineates the rights and responsibilities implied in relationships
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be- tween persons and between persons and their government.
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5. CriminalLaw: ANSRegulatesincidentsinwhichsomeonecommitsanactagainstthe
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public, as a whole.
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E.g.Such as by conducting insider trading on the stock exchange.
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6. Hierarchyof Laws:: ANS1.U.S.Constitution b b b b b b




2. FederalStatutes b




3. State Constitution b




4. State Statutes b




5. Common Law b




7. Common Law:Collection of legal interpretations made by judges, and are law
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, unless revoked by new statutory law.
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8. Precedent:Past decisions in similar cases that guide later decisions thereby b b b b b b b b b b




providing greater stability and predictability to the law.
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9. Stare Decisis: ANSWhen courts rely on precedent, they are obeying the principle of
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stare decisis ("standing by their decision").
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Rulings made in higher courts become a binding precedent for lower courts.
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10. RestatementsoftheLaw: ANSSummariesofcommonlawrulesinaparticulararea b b b b b b b b b b b b b




of the law that have been enacted in most states.
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11. Natural Law (Schools of Jurisprudence):ANSDescribes certain ethical laws
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and principals believed to be morally right and "above" the laws devised by humans.
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12. Legal Positivism (Schools of Jurisprudence): ANSMust abide by duly
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authorized law.
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Law is distinct from morality.
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13. Historical School (Schools of Jurisprudence): ANSFollowing tradition or b b b b b b b b




custom to shape the law.
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Closely linked with the doctrine of stare decisis.
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14. Legal Realism (Schools of Jurisprudence): ANSJudges should consider
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more than just the law.
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, Judges should consider factors such as social and economic conditions.
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15. Cost Benefit Analysis (Schools of Jurisprudence): ANSLaw should yield
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more benefits than it costs.
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If so, resources saved can be used to obtain more goods and services.
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16. Business Ethics: ANS The application of ethics to the special problems and b b b b b b b b b b b




oppor- tunities experienced by business people.
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17. Business Ethics Includes:: - ANS Decisions in choosing a method of production. b b b b b b b b b b b




- Decisions regarding how to compete with competing firms. b b b b b b b




- Social responsibilities of the firm. b b b b




18. WPH Framework for Business Ethics: - ANSWho decision impacts
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- Purpose of the decision b b b




- How to make the decision (i.e.Guidelines)
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19. Stakeholders: ANS Are the many groups of people affected by the firm's decisions. b b b b b b b b b b b b




Includes:Owners/shareholders, Employees, Customers, Management, Community,
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Future Generations, & etc.
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20. The basic unit of business ethics is::Values are the positive notions that
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capture our sense of what is good or desirable.
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We derive our ethics from the interplay of values.
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Values represent our understanding of the purposes we will fulfill by making partic- ular
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decisions.
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21. Golden Rule (Ethical Business Decision):Do unto others as you would have
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them do unto you.
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22. Public Disclosure (Ethical Business Decision):If the public knew about this
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decision, how would you decide?
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23. UniversalizationTest (Ethical Business Decision):What would the world be like b b b b b b b b b b




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