Business Law Ch1-2

Front 1

Enforces statutes from state legislatures and congress.

Back 1

Administrative agencies

Front 2

A legal system from the Romans that was put into place in 450 B.C

Back 2

Civil law system

Front 3

Laws that create paths that the parties are expected to follow

Back 3

Codified law

Front 4

The foundation of law, that is used as reference for other cases

Back 4

Common law

Front 5

The supreme law of the United States

Back 5

Constitution of the United States

Front 6

Based on the common law, this has become a reference point for other cases to cite in the ruling.

Back 6

Doctrine of stare decisis

Front 7

Used when court decisions are deemed unfair.

Back 7

Equitable remedies

Front 8

Enforces the Law

Back 8

Executive Branch(President)

Front 9

Interprets and Justifies the Law

Back 9

Judicial Branch

Front 10

Philosophies and Science of Law

Back 10

Jurisprudence

Front 11

Able to Create Laws

Back 11

Legislative branch (Congress)

Front 12

Laws created by local government

Back 12

Ordinance

Front 13

Past rulings that have become a base for future rulings

Back 13

Precedent

Front 14

A Codified Law

Back 14

Statute

Front 15

An agreement between two or more Countries.

Back 15

Treaty

Front 16

A set of behaviors that are followed by businesses.

Back 16

Code of Ethics

Front 17

A corporation who uses it's power to influence social matters.

Back 17

Corporate citizenship

Front 18

A set of moral values followed by a group of people.

Back 18

Ethics

Front 19

People who look for moral guidance from an outside source

Back 19

Ethical fundamentalism

Front 20

When people decide what is right and wrong on their own basis.

Back 20

Ethical relativism

Front 21

"Do unto others as you would have them do unto you"

Back 21

Kantian ethics

Front 22

Increasing revenue for shareholders is the primary focus

Back 22

Maximizing Profits

Front 23

Won nobel peace prize for economics. and shows his favor in maximizing profits

Back 23

Miltion Friedman

Front 24

The social responsibility for a company is to correct any social injustice it has made.

Back 24

Moral minimum

Front 25

Requires Companies to publicly state if they have a code of ethics or not.

Back 25

Section 406 of Serbanes Oxeley act

Front 26

Businesses have to review the effects that it's decisions have on non-shareholders.

Back 26

Stakeholder interest theory

Front 27

A theory that says individuals have to make decisions that contain the most benefit for society

Back 27

Utilitarianism

Front 28

A theory that says that social decisions should be made by the person with the least to gain

Back 28

Rawls social justice theory

Front 29

Sources of Law

Back 29

Judicial Decisions
Constitution
FCC
Treaties
Executive Orders