Quiz 1

The flashcards below were created by user Ladybird1106 on FreezingBlue Flashcards.

  1. Formalism
    Affirms absolute morality, a duty based moral obligation
  2. Consequentialism
    Does not concern itself with the consequences of actions
  3. Property Wheel
    • Administrative and Regulatory Law
    • Contract Law
    • Constitutional Law
    • Criminal Law
    • Law of Business Organizations
    • Tort

    • Securities Law
    • Environmental Law
    • Labor Laws
  4. Intentional Torts
    Tort- Improper crossing of boundaries usually causing injury to our person or property

    Negligence- Unreasonable behavior

    Strict Liability- Ultra hazardous if something is extremely dangerous you are liable
  5. Corporate Governance
    Shareholders are not held liable
  6. Individual Values
    Ultimate source of ethical values of business decision making. Formalist will not cut corners, Consequentialist will cut corners.
  7. Why are nations weak or strong
    • Dependency Theory
    • Natural Resources
    • Education and Technology
    • Climate
    • Private Market
    • Law and the Legal System
  8. 3 Concepts that establish a necessary framework
    1) Law- a made up rule

    2) Rule of Law- law that are generally and equally applicable.

    3) Property- to have ownership, the right to turn to public authority to enforce others from interfering.
  9. Property
    • Private- Sole ownership
    • Public- government buildings, parks, sidewalk
    • Common- Owned by 2 or more people
  10. Schools of Jurisprudence
    • Natural
    • History
    • Postitive
  11. 2 Major Legal Systems
    Common Law- relies on Judicial

    Civil Law- relies on Legislation
  12. What regulates society
    Public Law
  13. Not sure of the question
    • Criminal
    • Private
    • Property
    • Contract
    • Tort
  14. Substantive Law
    Defines legal relation
  15. Procedural Law
    Defines methods and means
  16. Breach of Contract
    When one party of a contract fails to do what was agreed to do.
  17. Specific Performance
    Order by the court to perform a barging as agreed.
  18. Remedy
    The right to take another persons resources because they failed to meet requirements of the law. (Money award)
Card Set
Quiz 1
Show Answers