CHAPTER 2-BUSINESS ETHICS AND SOCIAL RESPONSIBILITY
1. Ethics is the study of how people should act.
2. Life Principles are set by your parents and do not change over time.
3. There is strong evidence that ethical behavior pays off financially
CHAPTER 1-INTRODUCTION TO LAW
1. Congress passed a law imposing penalties for displaying "indecent" material online where children
could see it. If the U.S. Supreme Court subsequently rules that the statute conflicts with the First
CHAPTER 3-COURTS, LITIGATION AND ALTERNTIVE DISPUTE RESOLUTION
1. If Lorenzo is seeking an injunction against Brenda to prevent her from selling materials that infringe
his copyright, he is entitled to a jury trial if the value of the materials
CHAPTER 4-CONSTITUTIONAL, STATUTORY, ADMINISTRATIVE, AND
1. While at the park, Tasha saw a small child fall into the lake. Tasha did not know the child. Under the
common law of most states, Tasha has a legal duty to take reasonable s
CHAPTER 5-Intentional Torts and Business Torts
1. A tort is a violation of a duty imposed by the civil law.
2. The First Amendment guarantee of freedom of speech is an absolute right.
3. Public officials and public figures receive less protecti
CHAPTER 9-INTRODUCTION TO CONTRACTS
1. One purpose of contract law is to make business matters more predictable. T
2. Some of the elements of a contract are agreement, consideration, legality, and capacity.T
3. A counteroffer is a rejection of
CHAPTER 12: CONSIDERATION
In contract law, consideration refers to the time that a party takes
to evaluate a deal.
NAT: AACSB Analytic
AICPA Critical Thinking