Quiz 1

Affirms absolute morality, a duty based moral obligation

Does not concern itself with the consequences of actions

• Administrative and Regulatory Law
• Contract Law
• Constitutional Law
• Criminal Law
• Law of Business Organizations
• Tort

• Securities Law
• Environmental Law
• Labor Laws

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

Shareholders are not held liable

Ultimate source of ethical values of business decision making. Formalist will not cut corners, Consequentialist will cut corners.

• Dependency Theory
• Natural Resources
• Education and Technology
• Climate
• Private Market
• Law and the Legal System

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.

• Private- Sole ownership
• Public- government buildings, parks, sidewalk
• Common- Owned by 2 or more people

• Natural
• History
• Postitive

Common Law- relies on Judicial

Civil Law- relies on Legislation

Public Law

• Criminal
• Private
• Property
• Contract
• Tort

Defines legal relation

Defines methods and means

When one party of a contract fails to do what was agreed to do.

Order by the court to perform a barging as agreed.

The right to take another persons resources because they failed to meet requirements of the law. (Money award)