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Affirms absolute morality, a duty based moral obligation
Does not concern itself with the consequences of actions
- Administrative and Regulatory Law
- Contract Law
- Constitutional Law
- Criminal Law
- Law of Business Organizations
- Securities Law
- Environmental Law
- Labor Laws
Tort- Improper crossing of boundaries usually causing injury to our person or property
Negligence- Unreasonable behavior
Strict Liability- Ultra hazardous if something is extremely dangerous you are liable
Shareholders are not held liable
Ultimate source of ethical values of business decision making. Formalist will not cut corners, Consequentialist will cut corners.
Why are nations weak or strong
- Dependency Theory
- Natural Resources
- Education and Technology
- Private Market
- Law and the Legal System
3 Concepts that establish a necessary framework
1) Law- a made up rule
2) Rule of Law- law that are generally and equally applicable.
3) Property- to have ownership, the right to turn to public authority to enforce others from interfering.
- Private- Sole ownership
- Public- government buildings, parks, sidewalk
- Common- Owned by 2 or more people
2 Major Legal Systems
Common Law- relies on Judicial
Civil Law- relies on Legislation
What regulates society
Not sure of the question
Defines legal relation
Defines methods and means
Breach of Contract
When one party of a contract fails to do what was agreed to do.
Order by the court to perform a barging as agreed.
The right to take another persons resources because they failed to meet requirements of the law. (Money award)