COMM1800 - Laws that affect ethics Sarbanes-Oxley(SOX act...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Laws that affect ethics Sarbanes-Oxley (SOX) act protects whistleblowers from any company retaliation. This requires that all public corporations allow employees to submit concerns regarding accounting and auditing procedures anonymously. (Though they don’t have to be employees) Foreign Corrupt Practices Act- concerned with bribes involving foreign officials and accounting transparency. Types of law:- Business Law- Rules, statutes, codes, and regulations that are established to provide a legal framework within which businesses may be conducted and that are enforceable by court action. (product liability, sales, consumer protection, taxes, bankruptcy, fair competition)- Statutory Law- State and federal constitutions, legislative enactments, treaties of the federal government- in short, written law.- Common law- Body of law that comes from decisions handed down by judges (unwritten law). Guided by precedent principles. Best states for legal fairness are Delaware, Nebraska, Virginia, Iowa, and Connecticut. Worst states for legal fairness are West Virginia, Louisiana, Mississippi, Alabama, and Hawaii. An example of a common law is a Tort law (A wrongful act that causes injury to a person’s body, property or reputation. Often non criminal. Includes negligence (unintentional) and product liability- harm that results from production, design, sale or use of products; strict- regardless of fault)....
View Full Document

This note was uploaded on 02/27/2011 for the course COMM 1800 taught by Professor Kemp during the Spring '11 term at UVA.

Page1 / 4

COMM1800 - Laws that affect ethics Sarbanes-Oxley(SOX act...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online