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BLAW 1 Chap 2-4 Anderson's
Business Law 1st semester
31
Law
Undergraduate 1
01/22/2011

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Term
Equity
Definition
the body of principles that originally developed because of the inadequacy of the rules then applied by the common law courts of England
Term
Ethics
Definition
a branc of philosophy dealing with valuesthat relate to the natur of human conduct and values associated with that conduct
Term
Business Ethics
Definition
balancing the goal of profits with values of individuals and society
Term
Positive Law
Definition
law enacted and codified by govenmental authority
Term
Natural Law
Definition
a system of principles to guide human conduct indpendent of, and sometimes contrary to, enacted law and discovered by man's rational intelligence
Term
Civil Disobedience
Definition
the term used when natural law proponents violate positive law
Term
Situational Ethics
Definition
a flexible standard of ethics that permits an examination of circumstances and motivation before attaching the label of right or wrong to conduct
Term
Moral Relativism
Definition
takes into acount motivation and circumstances to determin whether an act was ethical
Term
Stakeholders
Definition
Those who have a take, or interest, in the activities of a corporation; stakeholders include emplyees, members of the community in which the corporation operates, vendors, customers, and any others who are affected by the actions and decisions of the corporations
Term
Stakeholder Analysis
Definition
The term used when a decision maker views a problem from different perspectives and measures that impact of a decision on various groups
Term
Integrity
Definition
the adherence to one's values and principles despite the costs and consequences
Term
Conflict of Interest
Definition
Conduct that compromises an employee's allegiance to that company
Term
Primum Non Nocere
Definition
above all do no harm
Term
Federal System
Definition
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
Term
Constitution
Definition
a body of priciples that establishes the structure of a governnt and the relationship of the government to the people who are governed
Term
Tripartite
Definition
three-part division of government
Term
Legislative Branch
Definition
the branch of government (e.G., Congress) formed to make the laws
Term
Executive Branch
Definition
The branch of government (e.g., the president) formed to execute the laws
Term
Judicial Branch
Definition
the branch of government(e.g., the courts) formed to interpret the laws
Term
Bicameral
Definition
a two-;house form of the legislative branch of government
Term
Delegated Powers
Definition
powers expressly granted the nationsl government by the Constitution
Term
Shared Powers
Definition
Powers that are held by both state and national governments
Term
police Power
Definition
the power to govern; the power to adopt laws for the protection of the public health, welfare, safety, and morals
Term
Ex Post Facto Law
Definition
a law making criminal an act that was lawful when done or that incrases the penalty when done, Such laws are generally prohibited by constitutional provisions
Term
Preemption
Definition
The federal government's superior regualtory position over state laws on the same subject area
Term
Bedrock View
Definition
A strict constructionist interpretation of a constitution
Term
Living-Document View
Definition
ther term used when a constitution is interpreted accournding to changes in conditions
Term
Commerce Clause
Definition
that section of the U.S. Constitution allocating business regulation between federal and state governments
Term
Due Process Clause
Definition
a guarantee of protection against the loss of property of rights without the chance to be heard
Term
Quasi-judicial Proceedings
Definition
forms of hearings in which the rules of evidence and procedure are more relaxed but each side still has a chance to be heard
Term
Privileges and immunities Clause
Definition
a clause that entities a person going into another state to make contracts, own property, and engage in business to the same extent as citizens of that state
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