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A Definition of Law and its Ambit The Concept of Law A set of rules that legal subjects must obey on pain of punishment.  Made by state  Applies to all  Must be obeyed (enforced)  Sanctions for violation What is a legal subject? A natural (you and I) or juristic person (eg company...

Which of the following countries are currently subject to the Office of Foreign Assets Control Regulations? a. North Korea b. Jordan c. Bahrain d. Russia - ANS-a. North Korea ** North Korea is covered under OFAC regulations, pursuant to the Trading with the Enemy Act, the Anti-Terrorism Act...

What is the minimum distance that a ladder should extend above the top of a trench or excavation? - 3' Handrails must be installed on all open sides of a scaffold if workers are subject to falls of how many feet or more? - 6' How should you store oily mops or rags at a job site? - in a plast...

Ethics - academic discipline on how human beings should properly live their lives Morality - How I should act, what I should do, and what kind of person I should be. based on our value structures Norms - Those standards of appropriate and proper (or normal) behavior Personal integrity - Moralit...

The ________ prompts companies to encourage senior officers of public companies to act ethically in their dealings with shareholders, employees, and other constituents. - ANS-Sarbanes-Oxley Act of 2002 You have entered into a contract with a business partner. Ultimately, it turns out that the ...

arbitration - Two parties are engaged in a legal dispute. In order to reach a settlement of their dispute, the parties choose an impartial third party to hear and decide the dispute. What kind of alternative dispute resolution does the scenario describe? a process in which jurors are separated f...

Which of the following is a characteristic of globalization? - ANS-Culture How do major international institutions facilitate globalization? - ANS-By creating an international monetary system What do countries with politicians that sustain transparency in global competition tend to have? - ANS...

The US Senate - ANS-Which government body is composed of two U.S. senators from each state? The Judicial Branch - ANS-The courts have the power to interpret and determine the validity of the law. What is this branch of the federal government called? Socratic Method - ANS-In class, your profes...

Distinguish between economic goods and free goods - A free good is a good with zero opportunity cost. This means it can be produced by society in as much quantities as needed with little or zero effort. An example would be of oxygen and water. An economic good is a good or service that has a be...