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· the law that ultimately is effected by the government, all of the rules that we have to obey (ex: all the rules at western)
o 5th and 14th amendments apply due process
o Habeas corpus: present the body- bring up the body or perhaps I have the body- recognition that if the sovereign orders somebody into custody they should be presented in front of a magistrate that is neutral (judge)
o Magna Carta: taxes cannot be levied without permission by parliament
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| doesn't involve exerise of government power (ex: signing a rent lease), agreement between two citizens |
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against another person or persons; can be either public or private law, can be environmental regulations
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| a wrong against society; incarceration or death |
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| provides them means for enforcing substantive rights. the process of what you do when a lease is breached, the notice you are due, causes the law to come into effect (ex: court dates) |
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laws that give rights and responsibilities. what ultimate effect the law is trying to cause, example of private and civil laws, what happens when a lease is breached (ex: may have to pay money or leave)
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· the law made my legislative bodies, at congressional or state level passed by those called statutes, at municipal level passed by those called ordinances, if you put them together they are often called “codes”. Compliments the common law
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| the law made by judicial decision |
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| permitted only the recovery of monetary damages |
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let the decision stand; keeping old decisions and applying it to current ones (ex: pig and dog eating neighbors farm plants; if you eat the pig à eat the dog??)
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| a body of law that attempts to do justice when the law does not provide a remedy, or when the remedy is just not enough, or when the application of the law is terribly unfair; can issue injuctions which prohibit certain conduct |
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| Purposes of law: keeping order |
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Laws that carry some form of penalty for their violation. (ex: traffic violations carry a fine or imprisonment)
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Purposes of law:
Influencing conduct |
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| o Laws that influence the conduct of society’s members. (ex: what businesses can and cannot say or promise in ads about their goods before being sold to the public) |
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| Purposes of law: Honorying Expectations |
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| o Businesses commit resources, people, and time with the expectation that the contracts for those commitments will be honored and enforced. Knowing we have protections in the law allows us to trust, contract, and invest. |
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Purposes of law: Promoting Equality
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| o Laws that have been passed to achieve equality. (ex: social welfare programs were created to further the cause of economic justice and antitrust laws to encourage competition and support free enterprise) |
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| Purposes of law: Law as the great compromiser |
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| o Law serves to mesh different views into one united view so that all parties are at least partially satisfied. Law serves as the mediator |
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| a tool used by lawyers, law students, and judges to help them summarize a case and focus on its facts and the key points of the decision by the court |
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| a Latin term meaning “wisdom of the law.” |
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| law’s authority comes from a higher and eternal authority and that any law that violates these natural laws is morally wrong (ex: slavery is a violation of natural law) |
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| the law is whatever those who are in charge say the law should be, law comes from power |
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| allow only those laws that serve to offer fairness, equality, and opportunity. Laws that deny due process or the right to be heard are morally wrong |
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| only those laws that serve to create and preserve order are valid. Allow laws that control behavior or provide conduct guidelines |
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o Constitutions are unlike statutes in that they cannot be added to, amended, or repealed with the same ease as can statutes. Law of the people and are changed only by lengthier and more demanding procedures, such as ballot propositions
o Tend to protect general rights, such as speech, religion, and property
o Provide a framework for all other forms of laws
o Statute’s boundaries are formed by constitutionally protected rights |
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Statutory law at the federal level
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o Congress is responsible for statutory law at the federal level
o Laws passed by Congress become part of the United States Codes (U.S.C) (ex: Sherman act and other antitrust laws) |
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| Federal Administrative Regulations (CFR) |
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o Another form of codified law that exists at the federal level: regulations passed by the federal administration agencies
o C.F.R. contains all of the federal agencies regulations such as the rules and forms required for consumer loans |
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| Laws of the executive branch of the federal government and deal with those matters under the direct control of that branch (ex: George W. Bush issued an executive order banning the use of federal funds for abortion in other countries receiving U.S. financial assistance) |
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| Legislative law and state codes |
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| o Each state has its own code containing the laws passed by its legislature |
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contain the states’ criminal laws, laws for incorporation, laws governing partnerships, and contract laws
Much of the law that effects business is found in these state codes |
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| laws which are drafted by groups of business people, scholars, and lawyers in an effort to make interstate business less complicated |
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| Uniform commercial code (UCC) |
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| adopted in 49 states, governs contracts for the sale of goods, commercial paper, security interests, and other types of commercial transactions. Gives business the opportunity to deal across state lines with some certainty |
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| o Just as at the federal level, state governments have administrative agencies with the power to pass regulations dealing with the statutes and powers given by the state legislatures (ex: most states also have a tax agency to handle income or sales taxes in the state) |
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| : statutes that local governments can pass (ex: cities and counties have the authority to handle zoning issues, and municipal code outlines the zoning system and whatever means of enforcement and specified penalties apply) |
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| final source of written law and are found in contracts such as a landlord’s regulations for tenants that the tenants agree to as apart of their lease. These laws are enforceable |
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| o When there are new issues, ambiguities, or omissions in the statutory language, a court decision in a dispute brought by one party against another serves to provide an interpretation or clarification of the law. The court decisions are then read along with the statutory language in order to give a complete analysis of the scope and intent of the statute. |
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| latin for "let the buy beware" |
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| an agreement between or among nations on a subject of international law signed by the leaders of the nations and ratified by the nations governing bodies |
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• Bilateral: treaty between two nations
• Multilateral: treaty among several nations • Universal: treaty recognized by almost all nations, reflection of widely followed standards of behavior (ex: →) |
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| a universal treaty covering the treatment of prisoners of war, has been the focus of 2004 scandal related to the treatment of Iraqi prisoners of war |
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| allows firms to operate uniformly throughout the world if their contracts are recognized as valid in most countries |
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| theory that protects governments from review of their actions by courts in other countries |
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| aka appropriation, confiscation, or nationalization; The taking of private property, the process is really one of eminent domain and courts of other countries will not interfere in this governmental process |
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| General Agreement on Tariffs and Trade (GATT) |
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| establishes uniform trade policies between the United States and the European Union nations. Goal= “borderless trade” |
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| North American Free Trade Agreement (NAFTA) |
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| trade agreement among the US, Canada, and Mexico. Lengthy agreement was signed by then-president George H. W. Bush and also approved in the other two countries. Has permitted the free flow of goods, services, and capital among the three nations. Some call the resulting trade a “borderless North America” |
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o Requires countries to substantially reduce their carbon dioxide emissions to address what some scientists believe is global warming
o US did not ratify the Kyoto Treaty by vote of 95-0
o E-sign law passed in 2000 in the US to become one of many nations recognizing electronic signatures as valid for purposes of contract formation |
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| the power of the state to take private property for public with payment of compensation to the owner |
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o Behavior beyond the law o A basic question for ethics is “is this fair?” Philosophy- referred to as → Normative standards
•Ethical standards that are generally accepted rules of conduct that govern society
•Generally accepted as standards and norms for behavior that are beyond laws and legal rights |
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Definition
o 1st layer: consists of basic calues such as being honest, keeping promises, and not taking things that do not belong to you
o 2nd layer: consists of notions of fairness such as how we treat others, including customers and employees who report to us
o 3rd layer: consists of issues related to how a business interacts with the community, the environment and its neighbors. |
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| Moral Standards=positive law |
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| o Our ethical decisions are made simply upon the basis of whether an activity is legal |
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o Aka situational or circumstantial ethics
o Establishes more standards according to the situation in which the dilemma is faced (ex: stealing to provide food for your starving family is ok) |
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o Based on religious beliefs or divine revelation
o Type of law that never changes, even though statues and rules might (ex: bible, Koran, or any inspired book or writing that is the cornerstone of a religion or faith) |
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| Blanchard and Peale Method |
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Definition
o “is it legal?”
• if answered no, should not proceed any further
o “is it balanced?”
• requires manager to step back and view a problem from other perspectives
o “how does it make me feel?”
• requires a manage to do a self-examination of the comfort level of a decision, known as the element of “conscience |
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when ethical employees are rewarded and unethical conduct is punished
• Employees are convinced that ethics is important when they see officers comply with all the provisions in the company code of ethics |
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| Front-page-of-the-newspaper test |
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o Decision maker envision how a reporter would describe a decision on the front page of a local or national newspaper
o Business decision should not be made differently if the likelihood of being reported is low
o “contemplating any business act, an employee should ask himself whether he would be willing to see it immediately described by an informed and critical reporter on the front page of his local paper, there to be read by his spouse, children, and friends.” |
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o Forces managers to seek additional perspectives as decisions are evaluated and implemented
o “how would I view the issue if I stood on the other side of the fence?” |
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| the wall street journal method |
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o Consists of compliance, contribution, and consequences
o Like the Blanchard-Peale model: any proposed conduct must first be in compliance with the law |
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| o Loosely similar to the Golden Rule, “Do unto others as you would have them do unto you.” |
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| looking at the interests of those who are affected by business decisions, often called the stakeholders of the business |
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| o Enables businesses to anticipate and plan for social needs and cultural changes that require the first or its product to evolve |
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| • The value of a good reputation |
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| o Reputation, good or bad, stays with a business or an individual for a long time o Once a company makes poor ethical choices, it carries the baggage of those choices despite successful and sincere efforts to reform |
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| • Leadership’s role in ethical choices |
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o A leader sees a problem before it becomes a legal issue or liability and fixes it, thus saving company time and money
o Issue regarding ethics
• Latency phase: industry is aware of problem
• Awareness stage: press reports on issue and raises questions
• Activism stage: members of the public as for either voluntary or regulatory reform |
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| mandates the federal sentencing commission to examine the types of things companies could do that would improved the ethical culture, thereby reducing the risk of misconduct and earning sentence reductions for companies that attempt to create an ethical culture but still have an ethical or legal lapse |
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| when jurors have reached a deadlock, case can be retried |
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• Done privately, cannot be recorded, no one can attend except jurors
• Don’t need to be unanimous, ¾ majority to agree on verdict |
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| result of jury deliberations Losing party can make several motions to get around the verdict- can ask for new trial |
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| stands for non obstant veredicto which means “notwithstanding the verdict” – the moving attorney is asking the trial judge to reverse the decision of the jury • Usually only granted when the evidence clearly outweighs the juries judgment If no motions are granted case can still go to appellate court for review |
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| • Do no carry the enforcement power or authority of courts in the US federal and state systems |
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| • Contentious jurisdiction |
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| court’s jurisdiction is consensual: when there is a dispute the parties can agree to submit the dispute to the ICJ (International Court of Justice) |
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| • 5 different types of international courts |
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o International Court of Justice (ICJ)
o Court of Justice of European Communities
o European court of Human Rights
o Inter-American Court of Human Rights
o London’s Commercial Court |
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