I feel that the United States does try to do a good job at making businesses act
fairly amongst each other but I also feel that no matter how hard that they try, there is
always going to be the companies that play dirty and are not fair at all. As far as
Code of Ethics 1
Code of Ethics
The Legal Environment
February 16, 2016
Code of Ethics 2
Ethics is a term that many people does not understand because there is no set code of
ethics that everyone must follow. There is not a one size fits all [
(TCO 6) What are the three major sources of contract law, and how do
they affect contract law?
common Law is a law developed by judges who issued their
opinions when deciding a case, Restatement of contracts is a
An agreement between two or more nations that is formally signed by an authorized
representative of each nation and ratified by each nation.
World Trade Organization
An international organization of 153 member nations created to promote an
A situation where one party threatens to do a wrongful act unless the other party enters into a
The intentional defrauding of a person out of money, property, or something else of value.
Something of legal value given in exchange for a promise.
A contract that has not been fully performed.
Implied in fact contract
A contract in which agreement between parties has been inferred from their conduct.
1. How is an agency created?
An express agency is created when the agent has authority to contract or otherwise act on the
principal's behalf. Example: real estate broker's contract to sell property. An implied agency
relationship occurs even i
1. What body of law deals with principal-agent relationships?
2. What is the legal concept that describes when third parties are led to believe that an
individual is acting on behalf of someone else?
3. What is the t
In this type of relationship parties owe a duty of loyalty to one another.
2. General partnership
In this relationship the parties may each participate in management, share in the profits, and
share in compensation.
3. Limited partne
1. Natural Law School
Law is based on what is "correct." Emphasizes that law should be based on morality and ethics.
2. Common law
Developed by judges who issued opinions when deciding cases. The principles announced in
these cases become prece
(TCO4) Compare and contrast the termination of an agency by
impossibility of performance and termination of an agency by operation
The termination of an agency by impossibility of performance i
(TCO 1) How has the Internet revolutionized commerce? Discuss its
impact on the Constitution.
The internet has revolutionized commerce by making business
able to reach customers that potentially wouldn
Interstate Commerce 1
The Legal Environment
January 7, 2016
Interstate Commerce 2
1. This case is important because it was a changing point in the fight against discrimination. This was a
big case against discrimination, Had the motel