Many Different Laws Affect A Single Business Transaction: Ethics And Business Decision Making

Submitted By naveen2007
Words: 2525
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Knowledge of ‘black-letter’ not enough - business now assumes an ethical dimension.
 Many Different Laws May Affect a Single Business Transaction.
 Ethics and Business Decision
Making. 


© 2012 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.

2

© 2012 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.

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 Constitutional
 Statutory

Law.

Law.

 Ordinances.
 Uniform

Laws (NCCUSL).
 Uniform Commercial Code.

©2011
2012
Cengage
Learning.
RightsMay
Reserved.
May not be copied, scanned, duplicated, in as whole or in
©
Cengage
Learning.
All RightsAll
Reserved.
not be copied, scanned, or duplicated, in whole or inorpart, except for use permitted in apart, except for use as license distributed a certain product or service otherwiseproduct on a password-protected for classroom use. permitted in a with license distributed with aorcertain or service orwebsite otherwise on a password-protected website for classroom use.

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 Administrative

Law.

 Federal

Agencies.
 State and Local Agencies.
 Case

Law and Common Law
Doctrines.
 Case

law governs all areas of law not covered by statutory or administrative law.

© 2012 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.

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 Early

English Courts.

 American

law is based largely on English Common Law which was based largely on traditions, social customs, rules, and cases dating back to 1066 A.D.

© 2012 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.

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 At

common law, there were two separate court systems:
 COURTS

OF LAW (awarding money damages), and
 COURTS OF EQUITY (nonmonetary relief) based on
“notions of justice and fair dealing.” 
© 2012 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.

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 Courts

of Law and Remedies

at Law.
 Were

also called “king’s courts,” and judges were appointed by the king.
 Remedies were limited to those provided at law, i.e., land, chattels, money.
© 2012 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.

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 Courts

of Equity and Remedies in Equity.
 Courts

of equity were administered by chancellors appointed by the king.
 Equitable remedies include: specific performance, injunctions, rescissions.
© 2012 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.

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 Courts

of Equity and Remedies in Equity.
 Equitable

Maxims.
 Doctrine of Laches.
 Respondent (defendant).
 Petitioner (plaintiff).
 Statutes of Limitations.
© 2012 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or
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