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The Legal and Ethical Environment of Business
Test 1 Study Guide
∙ Class 2 Notes/Things to know
A.) A law is a body of rules that are made to regulate how citizens and they are usually made by a controlling authority that can enforce the law.
B.) Precedent is a legal decision that serves as a guide for future cases. C.) Stare decisis is essentially the doctrine of precedent. Courts will use stare decisis when a previous issue has been previously brought up and a ruling has already been issued. This operates horizontally (meaning it can to apply of courts on the same level) and vertically (meaning it can apply to courts of a higher power).
D.) Binding authority is when precedent has been set up from a higher court and a lower court has to follow it.
U.S We also discuss several other topics like What is the cambrian explosion?
U.S Circuit Courts
F.) Persuasive authority is when a judge follows the opinion of another court in their own court because they agree with that court’s decision. G.) Courts only have to follow decisions from courts of their own level. H.) Remember the acronym QLCFA for legal critical thinking. Question: What are you trying to answer? Law checklist: Check and see what the law says. Facts: How do the facts of the situation fit into the law? Answer: Answer the question.
We also discuss several other topics like Holism is a characteristic of the anthropological perspective that?
∙ Types of Ethics to Know
A.) Ethical fundamentalism basically a set of rules on what the correct moral action is. EX: Ten Commandments. A disadvantage of this is that the rules are very rigid and cannot help you in every situation.
B.) Utilitarianism States that a person should act in accordance with what would give society the greater good for the most people. A con is that it is hard to determine what is a benefit and it is hard to actually reach a solution in some situations.
C.) Kantian ethics people should evaluate moral actions on the basis of if everyone acted in this manner would it benefit society as a whole. Additionally, treat others how you would want everyone in society to treat you in that particular moral situation. A disadvantage is society is too complex and too inconsistent for this to always be useful.
D.) Rawls’ Social Justice Theory a person should make moral decisions with no status or concept of rank or power and try to make the fairest decision. Unfortunately there’s no way to completely remove a bias or concept from a point of view.
E.) Ethical relativism people make moral decisions based on what they think is right and wrong. The problem with this theory is that people are too concerned with their selves and don’t consider how this impact others.
∙ SOCIAL RESPONSIBILITIES OF BUSINESSES If you want to learn more check out Matter can be classified into how many elements?
A.) IS THE RESONSIBLITY OF BUSINESS JUST TO MAXIMIZE PROFITS AND NOT WORRY ABOUT ANYTHING ELSE?
B.) SHOULD COMPANIES JUST WORRY ABOUT THE MORAL MINIUM AND MAKE A PROFIT THAT DOESN’T HARM OTHERS?
C.) IS THE SHAREHOLDER’S INTEREST MORE IMPORTANT THAN THE COMPANY IMPACT ON OTHER PEOPLE OR THE ENVIRONMENT? D.) SHOULD COMPANIES TAKE AFFIRMATIVE ACTION TO DO WELL WITH OTHERS AND TRY TO BE SOCIALLY RESPONSIBLE?
∙ Federal and State Court Things to Note
A.) Limited Jurisdiction courts such as traffic courts or drug courts that deal specifically with certain cases.
B.) General Jurisdiction courts handle mostly what limited jurisdiction courts don’t.
C.) Most cases (95%) end up in state courts.
D.) If someone loses in a trial court they can appeal upwards and try to get their case continued.
E.) Federal courts are divided into special federal courts or general U.S. district courts.
F.) The Supreme Court has 9 justices, with lifetime tenure, must be nominated by President, and approved by the Senate. If you want to learn more check out What is the best definition of chemistry?
G.) An appeal to the U.S. Supreme Court is a writ of certiorari or cert petition. H.) Subject matter jurisdiction determines if a case can be brought in certain courts or if a court has power over that case.
I.) Diversity of Citizenship citizens must be in different states and must sue for at least $75,000.
J.) Federal question is the question at issue a violation of a federal law or the Constitution?
K.) Rules for personal jurisdiction are: Defendant must have been properly notified of being taken to court, Defendant must be resident of state, or the court uses the long arm statute to asset jurisdiction over a nonresident.
L.) Minimum contacts when someone either committed a tort in a state, entered in a contract in state or contract affects the state, or the person transacts business in the state that caused injury.
∙ Trial Proceedings and Things to Know Notes Don't forget about the age old question of What did the dawes severalty act of 1887 do?
A.) Venue determines where a lawsuit can be filed depending on the court that is nearest to where the incident occurred, where witnesses and evidence are available, and a void in prejudice in the jury pool.
B.) Standing to sue requires the plaintiff to actually have suffered harm and there are no hypothetical lawsuits.
C.) Litigation is going through the actual court process.
D.) Groups can file a litigation together if the intervene on a case or a small group represents a larger group.
E.) Discovery is where the two sides exchange information through deposition (interviews), interrogatories (one side asks the other a list of approved questions), or physical documents can be produced in the discovery period.
F.) Defendants can try to get part or the entire lawsuit against them disposed through a motion for summary judgment or motion for judgment on the pleadings. Don't forget about the age old question of What is chlorophyta used for?
G.) In motions for judgment on the pleadings a defendant will ask the judge to make a decision on how true or factual the pleadings were. Or the motion for summary judgment can be used where the judge is called on to review information found in the discovery period.
H.) The three ways to find an alternative dispute resolution are negotiation, arbitration, or mediation.
I.) In negotiation both sides just negotiate a deal.
J.) In arbitration a 3rd party is paid to decide a case. If it is binding both parties stick with the 3rd party’s decision. If it is nonbinding one side can still take the case to court.
K.) In mediation a 3rd party simply tries to mediate the case and help the two sides make a decision. Both parties can still go to court.