Introduction to Law and Business Ethics and Social Responsibility------------------------- -3
Legal Dispute Resolution Process and Alternative Dispute Resolution Mechanisms-------8
Business and the Constitution and Administrative Law---------------------------------------12
Business Crimes, Business Torts, and Product Liability--------------------------------------15
Contracts-------------------------------------------------------------------------------------------18
Business Structure and Securities Regulation--------------------------------------------------21
Business Property and Antitrust Law-----------------------------------------------------------26
Employment Law---------------------------------------------------------------------------------30
References-----------------------------------------------------------------------------------------37
Introduction to Law and Business Ethics and Social Responsibility The purpose of American Law and it’s importance to individuals and businesses is to govern their activities. This system of law is based upon order that is opposed to chaos, confusion, and uncertainty. To better understand how this system works the business owner should be able to spot legal and ethical issues that require attention. By learning the vocabulary of the law and how these rules apply, the business manager holds the position and is able to evaluate and follow their attorney’s recommendation. In order to avoid possible litigation a business needs to have a Legal Guidelines Handbook. The basic structure of the law or it’s subject matter better known as substantive law; includes the constitutional law, administrative law, criminal law, tort, contract, business organizations, securities law, business property law, antitrust, and lastly employment law.
Substantive law; which is an aspect of a legal system that creates, defines, and regulates the duties, liabilities, and rights of the legal entities. Procedural law deals with the technical aspects and the steps for enforcing civil and criminal law. Procedural law consist of the rules that govern how cases move through our court systems or administrative agencies. Procedural law; deals with the practices and procedures that enforce civil and criminal law. Criminal law sets up rules concerning wrongs that are committed against society, which carries the punishment of fines or imprisonment. Criminal law; deals with crimes and offenses against the state. Civil law has rules about wrongs against persons that cause liability for damages. Civil Law; is followed thoroughly, where a expert judge decides cases without the help of a jury and without any reference to the precedent. Every defendant who enters a criminal trial is presumed innocent until proven guilty. These rules are found in the statutes or statutory law, which governs several different aspects, such as sale of goods and credit transactions, or regulations of government agencies. Statutory Law; is the body of law consisting of written laws adopted by a legislative body, which is a result of the appellate courts decisions based on the country’s constitution. Business law is governed by Common Law which is handed down by judges, when no statutory law applies. Common Law; is based on every defendant is presumed innocent until proven guilty. Another important classification of law involves what kind of remedy or at law equitable is available in regards to civil law in which to right a wrong. Remedy or At Law or Equitable; is the legal means of cessation of a wrong or enforcement of a relief , such as an award of damages or to grant an injunction. Most law suites are settled through money damages or law damages. Law Damages; is compensation for causing loss or injury through negligence or a deliberate act, or the courts estimate or award of a sum such as a fine for breach of contract or of a
