BUL 3130 Exam 1 || Questions and 100% Accurate Answers.
4 Sources of Primary Law correct answers -The U.S. Constitution and the constitutions of the
various states.
-Statutory law—including laws passed by Congress, state legislatures, or local governing bodies.
-Regulations created by administrative agencies, such as the Food and Drug Administration.
-Case law and common law doctrines.
Foreign Corrupt Practices Act correct answers -Prohibits U.S. businesspersons from bribing
foreign officials to secure beneficial contracts
-First part applies to all U.S. companies and their directors, officers, shareholders, etc and
prohibits the bribery of most officials of foreign governments
- does not prohibit payment of substantial sums to minor officials whose duties are ministerial
(routine) usually to speed up process
-second part is accountants have to keep detailed records
-fine if company: up to 2 million, fine if individual: up to 100,000
Corporate Social Responsibility correct answers -Combines a commitment to good citizenship
with a commitment to making ethical decisions, improving society, and minimizing
environmental impact
-relatively new concept
-not asserted under law but is considered important when considering profits and views people
have on company
-social aspect of CSR involves corp. showing that they are trying to tackle social problems,
sometimes they come up with report about such
-can effect who applies to workplace and lead to eventual savings/profits
Ethics correct answers -what constitutes right or wrong behavior
-a branch of philosophy focusing on morality and the way moral principles are derived and
implemented
Business Ethics correct answers -the decisions businesses make or have to make and whether
those decisions are right or wrong
-how the businessperson apply moral and ethical principles in making their decisions
-important for profit maximization and rise of corporate citizenship
Principles of Rights correct answers -a view of duty based ethics
-principles that human beings have certain fundamental rights
-deeply embedded in Western culture
-pertaining to business: how a decision affects the rights of others
-dilemma: disagree on which rights are most important
-whichever right is stronger is the one that takes more prevalence in decision making
Types of Ethics correct answers -Duty Based: the idea that every person has certain duties to
others including both humans and the planet. Deals with the standards that were derived from
reveled truths, religious authorities, or philosophical reasoning.
, -Outcome-Based: Utilitarianism: greatest good for greatest number, focuses on impact on society
or key stakeholders
Moral Minimum correct answers The lowest ethical level society will accept that is simply
following the law
Remedies at Law correct answers -three remedies that would be give if one person wronged
another and they would go to the king's court
-land, items of value, money
-today taken as the form of monetary damages
Plantiff correct answers -suing party
-one who initiates the lawsuit
Defendent correct answers -one against whom a lawsuit is brought or the accused person in a
criminal proceeding
What happens when state law concurs federal law? correct answers Federal law takes over
Binding Authority correct answers -any source of law that a court must follow when deciding a
case
-includes constitutions, statues, and regulations that govern the issues being decided and
controlling precedents
Persuasive Authorities correct answers -Precedents from other jurisdictions
-any legal authority or source of law that a court may look to for guidance but need not follow
when making its decision
Schools of Jurisprudence correct answers -Jurisprudence: The study of law
1. Natural Law School: natural law theory that a higher or universal law exists that applies to all
human beings, and written laws should imitate these inherent principles
2. Positivist School: legal positivism believes that there can be no higher law than a nation's
positive law, there are no natural rights and human rights only exist because of the law
3. Historical School: emphasizes the evolutionary process of law by concentrating on the origin
and history of the legal system
4.Legal Realism: the idea that law is just one of the institutions in society and that it is shaped by
social forces and needs
Appellee correct answers The party against whom the appeal is taken
Appellant correct answers The party appealing the case
Judicial Review correct answers -the process of determining if a law or actions taken by the other
two branches is constitutional
-not mentioned in the US Constitution but many believe it was intended that the branch would
have this power
4 Sources of Primary Law correct answers -The U.S. Constitution and the constitutions of the
various states.
-Statutory law—including laws passed by Congress, state legislatures, or local governing bodies.
-Regulations created by administrative agencies, such as the Food and Drug Administration.
-Case law and common law doctrines.
Foreign Corrupt Practices Act correct answers -Prohibits U.S. businesspersons from bribing
foreign officials to secure beneficial contracts
-First part applies to all U.S. companies and their directors, officers, shareholders, etc and
prohibits the bribery of most officials of foreign governments
- does not prohibit payment of substantial sums to minor officials whose duties are ministerial
(routine) usually to speed up process
-second part is accountants have to keep detailed records
-fine if company: up to 2 million, fine if individual: up to 100,000
Corporate Social Responsibility correct answers -Combines a commitment to good citizenship
with a commitment to making ethical decisions, improving society, and minimizing
environmental impact
-relatively new concept
-not asserted under law but is considered important when considering profits and views people
have on company
-social aspect of CSR involves corp. showing that they are trying to tackle social problems,
sometimes they come up with report about such
-can effect who applies to workplace and lead to eventual savings/profits
Ethics correct answers -what constitutes right or wrong behavior
-a branch of philosophy focusing on morality and the way moral principles are derived and
implemented
Business Ethics correct answers -the decisions businesses make or have to make and whether
those decisions are right or wrong
-how the businessperson apply moral and ethical principles in making their decisions
-important for profit maximization and rise of corporate citizenship
Principles of Rights correct answers -a view of duty based ethics
-principles that human beings have certain fundamental rights
-deeply embedded in Western culture
-pertaining to business: how a decision affects the rights of others
-dilemma: disagree on which rights are most important
-whichever right is stronger is the one that takes more prevalence in decision making
Types of Ethics correct answers -Duty Based: the idea that every person has certain duties to
others including both humans and the planet. Deals with the standards that were derived from
reveled truths, religious authorities, or philosophical reasoning.
, -Outcome-Based: Utilitarianism: greatest good for greatest number, focuses on impact on society
or key stakeholders
Moral Minimum correct answers The lowest ethical level society will accept that is simply
following the law
Remedies at Law correct answers -three remedies that would be give if one person wronged
another and they would go to the king's court
-land, items of value, money
-today taken as the form of monetary damages
Plantiff correct answers -suing party
-one who initiates the lawsuit
Defendent correct answers -one against whom a lawsuit is brought or the accused person in a
criminal proceeding
What happens when state law concurs federal law? correct answers Federal law takes over
Binding Authority correct answers -any source of law that a court must follow when deciding a
case
-includes constitutions, statues, and regulations that govern the issues being decided and
controlling precedents
Persuasive Authorities correct answers -Precedents from other jurisdictions
-any legal authority or source of law that a court may look to for guidance but need not follow
when making its decision
Schools of Jurisprudence correct answers -Jurisprudence: The study of law
1. Natural Law School: natural law theory that a higher or universal law exists that applies to all
human beings, and written laws should imitate these inherent principles
2. Positivist School: legal positivism believes that there can be no higher law than a nation's
positive law, there are no natural rights and human rights only exist because of the law
3. Historical School: emphasizes the evolutionary process of law by concentrating on the origin
and history of the legal system
4.Legal Realism: the idea that law is just one of the institutions in society and that it is shaped by
social forces and needs
Appellee correct answers The party against whom the appeal is taken
Appellant correct answers The party appealing the case
Judicial Review correct answers -the process of determining if a law or actions taken by the other
two branches is constitutional
-not mentioned in the US Constitution but many believe it was intended that the branch would
have this power
