1: Business Activities and the Legal Environment
Laws and regulations affect virtually all business activities
Knowledge of 'black-letter' not enough - business now assumes an ethical dimension
Many different laws may affect a singl
Chapter 10: Nature & Terminology
Contract: a promise or a set of promises for the breach of which the law gives a remedy, or the
performance of which the law in some way recognizes as a duty.
Elements of a contract:
1. Agreement: An agreement to form a co
EXAM 2 Business Law
Tort: civil injury designed to provide a remedy (damages) for injury to a protected interest.
Damages Available in Tort Actions:
Compensatory: reimburse plaintiff for actual losses.
Special: quantifiable losses, su
Business Law Exam 1
CHAPTER 5: Ethics and Business Decision Making
Ethics is the study of right and wrong behavior; whether an action is fair, right or just.
In business ethics, ethical decisions are the application of moral and ethical principles to