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Chapter 1 Nataley

Business law vocab terms

TermDefinition
Morality Involves the values that govern a group's ideas about right and wrong.
Ethics Refers to the rules used to determine the difference between right and wrong.
Justice Treating people fairly and equally.
Law Is a system of rules of conduct established by a country's government to maintain stability and justice according to the values that are relevant to the country.
Consitution A country's formal document that spells out the principles by which its government operates.
Common Law A set of laws made by the courts which provide a series of consistent rules that later courts must follow.
Statute A law passed by a government body that has been made for the purpose of creating laws.
Administrative Law The body of rules created by government agencies
Empathy Understanding, being sensitive to.
Permissible Allowable
Prevalent Generally or wildly accepted, practiced, or favored; widespread
Created by: Nataley_Kate
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