click below
click below
Normal Size Small Size show me how
Week 2
Business Law
Term | Definition |
---|---|
Ethics | A branch of philosophy dealing with values that relate to the nature of human conduct and values associated with that conduct. |
Positive Law | Law enacted and codified by governmental authority. |
Business Ethics | Balancing the goal of profits with values of individuals and society. |
Natural Law | A system of principles to guide human contact independent of, and sometimes contrary to, enacted law and discovered by man's rational intelligence. |
Civil Disobedience | The term used when natural law proponents violate positive law. |
Kant's Categorical Imperative | A standard of ethics that requires that we avoid one sided benefit for us as a result of the conduct or decision. |
Theory of Justice | The Locke and Rawlsian standard for ethics that requires that we all agree on certain universal principles in advance. |
Social Contract | The agreement under Locke and Rawls as to what our ethical standards will be. |
Conflict of Interest | Conduct that compromises an employee's allegiance to that company. |
Primum Non Nocere | Above all, do no harm. |
Rights Theory | Nozick's theory of ethics that we all have a set of rights that must be honored and protected by government. |
Entitlement Theory | Another name for Nozick's theory that we all have certain rights that must be honored and protected by government. |
Ethical Egoism | Theory of ethics that we should all act in our own self-interest. |
Utilitarians | Theory of ethics based on doing the most good for the most people in making decisions. |
Moral Relativists | Those who make decisions based on circumstances and not on the basis of any predefined standards. |
Stakeholders | Those who have a stake, or interest, in the activities of a corporation; include employees, members of the community in which the corporation operates, vendors customers, and any others who are affected by the actions and decisions of the corporation. |
Stakeholder Analysis | The term used when a decision maker views a problem from different perspectives and measures the impact of a decision on various groups. |
Integrity | The adherence to one's values and principles despite the costs and consequences. |
Federal System | The system of government in which a central government is given power to administer to national concerns while individual states retain the power to administer to local concerns. |
Constitution | A body of principles that establishes the structure of a government and the relationship of the government to the people who are governed. |
Tripartite | Three-part division of government. The tripartite is legislative branch, judicial branch, and executive branch. |
Legislative Branch | The branch of government formed to make laws. |
Executive Branch | The branch of government formed to execute the laws. |
Judicial Branch | The branch of government formed to interpret laws. |
Bicameral | A two-house form of the legislative branch of government. |
Delegated Powers | Powers expressly granted the national government by the Constitution. |
Shared Powers | Powers that are held by both state and national governments. |
Police Power | The power to govern; the power to adopt laws for the protection of the public health, welfare, safety. and morals. |
Ex Post Facto Law | A law making criminal an act that was lawful when done or that increases the penalty when done. Such laws are generally prohibited by constitutional provisions. |
Preemption | The federal government's superior regulatory position over state laws on the same subject area. |
Bedrock View | A strict constructionist interpretation of a constitution. |
Living-Document View | The term used when a constitution is interpreted according to changes in conditions. |
Commerce Clause | That section of the U.S. Constitution allocating business regulation between federal and state governments. |
Due Process Clause | A guarantee of protection against the loss of property or rights without the chance to be heard. |
Quasi-Judicial Proceedings | Forms of hearings in which the rules of evidence and the procedure are more relaxed but each side still has a chance to be heard. |
Privileges and Immunities Clause | A clause that entitles a person going into another state to make contracts, own property, and engage in business to the same extent as citizens of that state. |