Legal Environment Quiz 3

Tort

A civil wrong or wrongful act, either intentional or accidental, from which injury occurs to another.

Intentional torts

Torts where the defendant acts with intent to bring about a certain result or consequence.

Negligent torts

Torts arising from the failure to exercise reasonable care, leading to harm.

Strict liability torts

Legal responsibility for damages or injury, regardless of fault or intent.

Assault

In civil law, the act of placing another in immediate apprehension of physical safety.

Battery

Illegal touching of another person, either harmful or offensive, without their consent.

Intentional infliction of mental distress

Outrageous conduct intended to cause emotional distress, requiring proof of both mental and physical symptoms.

Invasion of privacy

Interference with a person's right to solitude, which can occur in various forms.

False imprisonment

Intentional confinement of a nonconsenting person without legal justification.

Trespass to land

Entering land without consent or remaining after being asked to leave.

Conversion

Wrongfully exercising dominion over the personal property of another, depriving them of its use.

Defamation

Publication of untrue statements that damage another's reputation.

Slander

Oral defamation, involving untrue spoken statements against someone.

Libel

Written defamation, involving untrue published statements against someone.

Fraud

Intentional misrepresentation of a material fact, leading to reliance and injury.

Negligence

Failure to take reasonable care, resulting in harm to another person.

Duty of care

The obligation to use reasonable care to avoid harming others.

Breach of duty

Failure to meet the standard of care owed to another party.

Causation

The relationship between the breach of duty and the injury or damages that occurred.

Damages

Compensation that must be proven by the plaintiff in a negligence case.

Comparative fault

A legal principle that compares the fault of each party involved in causing injury, affecting damage awards.

Assumption of risk

A defense in tort law where the plaintiff knowingly engaged in an activity with inherent risks.

Strict products liability

Holding manufacturers liable for defective products that cause injury, regardless of fault.

Ethics

A system of moral principles that govern the behavior of individuals and institutions.

Business ethics

Principles that guide the conduct of business in a manner that is consistent with societal values.

Corporate social responsibility (CSR)

A business model in which companies integrate social and environmental concerns into their operations.

Ethical decision-making

The process of evaluating and choosing among alternatives in a manner consistent with ethical principles.

Utilitarian approach

An ethical framework that assesses actions based on their outcomes and the overall good they produce.

Rights-based approach

An ethical framework that focuses on respecting and protecting individual rights.

Fairness or justice approach

An ethical framework that emphasizes fair treatment and equity in decision-making.

Transparency

The practice of being open and honest in communication, particularly regarding risks and business practices.

Whistleblowing

Reporting unethical or illegal activities within an organization.

Ethics training

Programs designed to educate employees about the ethical standards and practices of their organization.

Ethics hotline

A confidential reporting mechanism for employees to report unethical behavior.

Conflicts of interest

Situations where personal interests may conflict with professional responsibilities.

Professional code of ethics

Guidelines established by professions to direct ethical behavior and decision-making.

Organizational code of ethics

A formal set of guidelines designed to guide the behavior of members of an organization.

Ford Pinto case

A legal and ethical controversy surrounding the production of a car with a known safety defect.

Wells Fargo scandal

A corporate scandal involving unauthorized accounts opened to meet sales targets, resulting in ethical breaches.

Silicon Valley Software CEO scenario

A hypothetical situation involving ethical decision-making related to competitive strategy.

PharmCo Drug Discovery scenario

A hypothetical scenario where business decisions impact health and safety regarding a new drug.

Corporate Governance

The system of rules, practices, and processes by which a company is directed and controlled.

Ethics officers

Individuals responsible for overseeing ethical practices and compliance within organizations.

Economic interdependence

The mutual reliance between economic actors in different sectors that promotes a need for ethical behavior.

Changing normative values

Shifts in society's accepted standards that influence what is deemed ethical or unethical in business.

Duty-based Ethics (Formalism)

An approach that emphasizes adherence to rules and responsibilities, regardless of consequences.

Consequentialism

An ethical perspective focusing on the outcomes of actions rather than the actions themselves.

Social Responsibility

A business philosophy that emphasizes ethical behaviors toward stakeholders and society at large.

Advertising regulation

Legal guidelines that govern how products and services can be marketed, especially regarding health and safety.

Crisis management

The process of handling a major event that threatens to harm an organization or its stakeholders.

Code of Conduct

A set of rules outlining the social norms, rules, and responsibilities of an individual or organization.

Environmental sustainability

Practices that minimize harmful impacts on the environment and promote long-term ecological balance.

Corporate Accountability

The responsibility of companies to be transparent and answerable to their stakeholders for their actions.

Stakeholder theory

The theory that businesses should consider the interests of all stakeholders, not just shareholders.

Legislation

Laws that are enacted by a government body and affect business practices.

Tort Reform

Proposed changes to reduce the ability to file or win tort lawsuits.

Public disclosure

The act of making information available to the public, often related to transparency and accountability.

Material fact

A fact that would influence the decision of a reasonable person.

Breach of fiduciary duty

The failure to act in the best interests of another party to whom one has a duty.

False advertising

Advertising or promotion that misrepresents the nature, characteristics, qualities, or origin of goods.

Consumer protection laws

Laws designed to protect consumers from unfair business practices.

Environmental impact assessments

Processes used to evaluate potential environmental effects of a proposed project.

Occupational safety regulations

Laws established to ensure safe working conditions for employees.

Health care policy

Guidelines and regulations governing the provision and access to health care services.

Financial reporting standards

Accounting rules and standards that govern how organizations report their financial performance.

Cultural sensitivity in business

Awareness and respect for cultural differences in business practices and communication.

Employee rights

Legal and moral entitlements of workers, including fair treatment and working conditions.

Non-compete clause

A contract provision that prohibits a party from engaging in business activities that compete with another party.

Business model ethics

Evaluation of how business strategies affect ethical considerations and stakeholder values.

Moral relativism

The belief that moral judgments are relative to cultural or individual perspectives.

Legalism

Strict adherence to the law as the primary standard for ethical behavior.

Code of ethics violation

A breach of the principles and values outlined in a company's code of conduct.

Supervisory accountability

The responsibility of managers to ensure that their teams adhere to ethical standards.

Human rights in business

The obligation of businesses to respect and promote internationally recognized human rights.

Supply chain ethics

The ethical considerations related to sourcing and production processes in supply chains.

Intellectual property rights

Legal protections granted to creators for their inventions and creations, preventing unauthorized use.

Gender equality in the workplace

Fair treatment and equal opportunities for all genders in employment contexts.

Diversity and inclusion policies

Business practices aimed at promoting a diverse workforce and inclusive workplace culture.

Risk management

The identification, assessment, and prioritization of risks, along with measures to minimize their impact.

Profit sharing

An arrangement in which employees receive a share of the profits of a business.

Business integrity

The commitment to ethical practices and honest dealings in business.

Conflict resolution mechanisms

Processes and methods for resolving disputes and conflicts within organizations.