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Chap. 1: Ethics/Law
Understanding Business & Personal Law: Chapter 1 - Ethics and the Law
| Vocab Term | Definition |
|---|---|
| morality | the values that govern a society's attitude towards right and wrong |
| ethics | the means for determining what a society's values ought to be |
| honesty | being open and truthful in dealings with others |
| justice | treating everyone fairly and equally |
| compassion | being sympathetic to the difficulties of others and wanting to alleviate their problems |
| integrity | willing to do the right thing regardless of personal consequences |
| law | the system of rules of conduct established by the government of a society to maintain stability and justice |
| constitution | document that spells out the principles by which the government operates |
| common law | English result of judges sharing their decisions with other judges and making every effort to share the same law "in common" with everyone else throughout the country |
| precedent | doctrine under which a judge is required to follow an earlier court decision when deciding a case with similar circumstances |
| stare decisis | let the decision stand |
| statutes | laws specifically passed by a governing body that has been created for the purpose of making laws |
| legislature | a body of lawmakers; e.g. Congress |
| unconstitutional | invalid |
| administrative law | law consisting of the rules and procedures established by regulatory agencies |