20 BA Notes - Private Enterprise The market turns...

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Private Enterprise The market turns self-interest into social good. To work, the system has to have… *Private property *Freedom of choice *Right to keep profits *Fair competition Law Standards set by society to govern behavior *Common Law- the law judges establish while deciding disputes *Statutory Law- Laws enacted by a federal or state legislature. *????????????? Judiciary Branch of government that settles disputes through application of law Trial Courts-where the dispute is first heard (Fed=US district, State= Circuit, Superior, Common Pleas; Specific State Courts= probate or small claims. Appellate courts-where the dispute can be heard again if the lower court has errors. Dispute resolution Mediation Arbitration Binding Non-Binding Types of Property - *Real Property -real estate and everything permanently attached to it *Personal Property -everything else *Intellectual Property -property generated by a person’s creative activities (music works, art work, computer software)
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This note was uploaded on 04/10/2008 for the course WRITING 122 taught by Professor Belsey during the Spring '08 term at Oregon.

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20 BA Notes - Private Enterprise The market turns...

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