B. Law Quiz 1

Front 1

law

Back 1

a rule of civil conduct prescribed by the supreme power in a state, commanding what is right, and prohibiting what is wrong

Front 2

functions of law

Back 2

to maintain stability in the social, political, and economic system through dispute resolution, protection of property, and the preservation of the state, while simultaneously permitting ordered change

Front 3

sanctions, morals

Back 3

are different than laws but overlapping: law provides_________ while ________ do not

Front 4

justice

Back 4

are separate and distinct concepts; ______ is the fair, equitable, and impartial treatment of competing interests with due regard for the common good

Front 5

right

Back 5

legal capacity to require another person to preform or refrain from preforming an act

Front 6

duty

Back 6

legal obligation requiring a person to preform or refrain form preforming an act

Front 7

substantive law

Back 7

a basic law creating rights and duties

Front 8

procedural law

Back 8

rules for enforcing the substantive law

Front 9

public law

Back 9

the law dealing with the relationship between government and individuals

Front 10

private law

Back 10

the law involving relationships among individuals and legal entities

Front 11

civil laws

Back 11

the law dealing with the rights and duties of individuals among themselves

Front 12

criminal law

Back 12

the law that involves offenses against the entire community

Front 13

sue

Back 13

to begin a lawsuit in a court

Front 14

defendant

Back 14

the person against whom a legal action is brought

Front 15

plantiff

Back 15

the person who initiates a civil suit

Front 16

prosecute

Back 16

to bring a criminal proceeding

Front 17

constitutuion

Back 17

fundamental law of a government establishing its powers and limitations

Front 18

Judicial review

Back 18

authority of the courts to determine the constitutionality of legislative and executive acts

Front 19

common law system

Back 19

body of law originating in England and derived from judicial decisions

Front 20

Adversary system

Back 20

system in which opposing parties initiate and present their case

Front 21

civil law system

Back 21

body of law derived from Roman law and based upon comprehensive legislative enactments

Front 22

inquisitorial system

Back 22

system in which the judiciary initiates, conducts, and decides cases

Front 23

stare decisis

Back 23

principle that courts should apply rules decided in prior cases in deciding substantially similar cases

Front 24

equity

Back 24

body of law based upon principles distinct from common law and providing remedies not available at law

Front 25

decree

Back 25

decision of a court of equity

Front 26

specific perfomance

Back 26

decree ordering a party to preform a contractual duty

Front 27

injunction

Back 27

decree ordering a party to do or refrain from doing a certain act

Front 28

reformation

Back 28

equitable remedy rewriting a contract to conform with the original intent of the contracting parties

Front 29

rescission

Back 29

an equitable remedy invalidating a contract

Front 30

maxim

Back 30

a general legal principle

Front 31

treaty

Back 31

an agreement between or among independent nations

Front 32

Executive Order

Back 32

legislation issued by the President or a governor

Front 33

administrative law

Back 33

law dealing with the establishment, duties, and powers of agencies in the executive branch of government

Front 34

appellant

Back 34

party who appeals

Front 35

ethics

Back 35

study of what is right or good for human beings

Front 36

business ethics

Back 36

study of what is right and good in a business setting; includes the moral issues that arise from business practices, institutions, and decision making

Front 37

ethical fundamentalism

Back 37

individuals look to a central authority or set of rules to guide them in ethical decision making

Front 38

ethical relativism

Back 38

actions must be judged by what individuals subjectively feel is right or wrong for themselves

Front 39

situational ethics

Back 39

judging a person's actions by first putting oneself in the actor's situation

Front 40

utilitarianism

Back 40

moral actions are those that produce the greatest net pleasure compared with net pain

Front 41

act utilitarianism

Back 41

each separate act must be assessed according to whether it maximizes pleasure over pain

Front 42

rule utilitarianism

Back 42

supports rules that on balance produce the greatest good

Front 43

cost benefit analysis

Back 43

quantifies in monetary terms the benefits and costs of alternatives

Front 44

deontology

Back 44

holds that actions must be judged by their motives and means as well as their results

Front 45

social and ethical theories

Back 45

focus on a person's obligations to other members in society and on the individual's rights and obligations

Front 46

social egalitarians

Back 46

believe that society should provide all members with equal amounts of goods and services irrespective of their relative contrabutions

Front 47

distributive justice

Back 47

stresses equality of opportunity rather than of results

Front 48

libertarians

Back 48

stress market outcomes as the basis for distributing society's reward

Front 49

intutionism

Back 49

a rational person posses inherent powers to assess the correctness of actions

Front 50

good person philosophy

Back 50

holds that individuals seek out and emulate good role models

Front 51

corporations as moral agents

Back 51

because a corporation is a statutory entity, it is difficult to resolve whether it should be morally accountable

Front 52

regulation of business

Back 52

government regulation is necessary because all the conditions for perfect competition have not been satisfied and free competition cannot by itself achieve the social goals

Front 53

corporate governance

Back 53

vast amounts of wealth and power have become concentrated in a small number of corporations, which in turn are controlled by a small group of people, and it is argued that they therefore have a responsibility to undertake projects to benefit society

Front 54

profitability

Back 54

the business of business should be to return as much money as possible to shareholders

Front 55

unfairness

Back 55

whenever corporations engage in social activities, they divert funds rightfully be longing to shareholders and/or employees

Front 56

accountability

Back 56

a corporation is subject to less public accountability than public bodies

Front 57

expertise

Back 57

although a corporation may have a high level of expertise on selling its goods and services, there is absolutely no guarantee that any promotion of social activities will be carried on with the same degree of competence

Front 58

social contract

Back 58

because society allows for the creation of corruptions and gives them special rights, including a grant of limited liability, corporations owe a responsibility to society

Front 59

stakeholder model

Back 59

corporations have fiduciary duty to all of their stakeholders, not just their stockholders

Front 60

less government regulation

Back 60

by taking a more proactive role in addressing society's problems, corporations create a climate of trust and respect that has the effect of reducing government regulation

Front 61

long-run profits

Back 61

corporate involvement in social causes creates goodwill, which simply makes good business sense