Goldman_BLAW9e_PPT_Ch01

Foundations of Law and the Role of Ethics in Business

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Functions of Law: Name and explain the four functions of law.
Sources of Law: Identify the primary sources of law in the United States.
Ethics in Workplace: Realize the impact of unethical behavior in the workplace.
Court System Structure: Outline the federal and state court systems in the U.S.
Criminal Justice System: Discuss selected personal, business, and cyber crimes, and steps in the criminal justice system for accused individuals.
Understanding Torts: Demonstrate knowledge of wrongful acts (torts) and legal rights of victims.
Civil Lawsuit Steps: Outline the steps in a civil lawsuit and options for settling disputes outside court.

Societal Stability: Without laws, societies resort to violence and primitive conditions emerge.
Regulatory Function: Laws create a framework of rules necessary for societal functions to prevent breakdown.

Definition: Law consists of rules established by governmental authorities (federal, state, local) to regulate societal conduct.
Legal Duties: Laws impose legal duties requiring individuals to act in certain ways.

Dispute Settlement: Facilitates resolution of conflicts.
Protection: Safeguards individuals and society.
Property Protection: Ensures the rights related to property are maintained.
Promotion of Social Objectives: Advances positive societal goals and values.

Historical Context: Transition from oral laws to written codes, ensuring public knowledge.
Napoleonic Code: Adaptation of Roman law by Napoleon, influencing many legal systems today.

Origins: Emerged in England post-Norman conquest (A.D. 1066).
Legal Precedents: Body of legal decisions by judges based on customs and traditions; established doctrine of Stare Decisis.

Purpose: Protects individual rights and property from harm.
Damages: Injured parties (Plaintiffs) may receive monetary damages if they prove their case by a preponderance of evidence.

Purpose: Protects society from dangerous acts.
Prosecution: Government charges individuals; required to prove guilt beyond reasonable doubt for conviction.

Civil Cases: Sometimes monetary damages aren’t sufficient; equitable relief may be pursued based on fairness and justice.

Law Merchant: Origin of business law, derived from medieval merchants' courts.
Uniform Commercial Code: Modern adaptation of merchant codes used widely in business law today.

Business Ethics: Focus on moral judgments regarding fairness and justice; ethical behavior surpasses mere legality.
Consumer Perception: Businesses perceived as unethical risk losing consumer loyalty, face court challenges, and potential government intervention.

Personal Example: Importance of ethical conduct by managers in guiding corporate behavior.
Common Ethical Issues: Considerations include privacy invasions, employee restrictions, sexual harassment, and management style.

Vision Alignment: Develop a corporate ethical vision, ensuring it aligns with employee values.
Code of Ethics: Implement and enforce a code of ethics for all employees.

Framework for Behavior: Establish rules for professional conduct within the organization.
Training: Mandate training to ensure understanding and compliance with ethical standards.

Unethical vs. Illegal: Not all unethical behaviors are subject to legal action, but severe cases may lead to criminal prosecutions and civil lawsuits, potentially resulting in punitive damages.