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Week 2 Business Law

Week 2 Business Law Review

TermDefinition
Business Ethics balancing the goal of profits with values of individuals and society.
Civil Disobedience the term used when natural law proponents violate positive law.
Conflict Of Interest conduct that compromises an employee’s allegiance to that company.
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; the Ayn Rand theory that separates guilt from acting in our own self-interest.
Ethics a branch of philosophy dealing with values that relate to the nature of human conduct and values associated with that conduct.
Integrity the adherence to one’s values and principles despite the costs and consequences.
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.
Moral Relativists those who make decisions based on circumstances and not on the basis of any predefined standards.
Natural Law a system of principles to guide human conduct independent of, and sometimes contrary to, enacted law and discovered by man’s rational intelligence.
Positive Law law enacted and codified by governmental authority.
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.
Social Contract the agreement under Locke and Rawls as to what our ethical standards will be.
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.
Stakeholders those who have a stake, or interest, in the activities of a corporation.
Theory Of Justice the Locke and Rawlsian standard for ethics that requires that we all agree on certain universal principles in advance.
Utilitarians theory of ethics based on doing the most good for the most people in making decisions.
Bedrock View a strict constructionist interpretation of a constitution.
Bicameral a two-house form of the legislative branch of government.
Commerce Clause that section of the U.S. Constitution allocating business regulation between federal and state governments.
Constitution a body of fundamental principles or established precedents according to which a state or other organization is acknowledged to be governed.
Delegated Powers powers expressly granted the national government by the Constitution.
Due Process Clause a guarantee of protection against the loss of property or rights without the chance to be heard.
Executive Branch the branch of government (e.g., the president) formed to execute the laws.
Ex Post Facto Laws 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.
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.
Judicial Branch the branch of government (e.g., the courts) formed to interpret the laws.
Legislative Branch the branch of government (e.g., Congress) formed to make the laws.
Living-document View the term used when a constitution is interpreted according to changes in conditions.
Police Power the power to govern; the power to adopt laws for the protection of the public health, welfare, safety, and morals.
Preemption the federal government’s superior regulatory position over state laws on the same subject area.
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.
Quasi-judicial Proceedings forms of hearings in which the rules of evidence and procedure are more relaxed but each side still has a chance to be heard.
Shared Powers powers that are held by both state and national governments.
Tripartite three-part division (of government).
Created by: user-2026484
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