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Business Law

Business Law. Chapter 1 Day 1 Notes & Vocab. The Spirit of the Law. Difference between Right & Wrong is not always easy to determine How do people distinguish Right & Wrong? Rules that have been learned Conscience Feelings, Opinions & Beliefs Laws . Morality.

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Business Law

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  1. Business Law Chapter 1 Day 1 Notes & Vocab

  2. The Spirit of the Law • Difference between Right & Wrong is not always easy to determine • How do people distinguish Right & Wrong? • Rules that have been learned • Conscience • Feelings, Opinions & Beliefs • Laws

  3. Morality • The values that govern a society’s attitude toward right and wrong • A person who lives by certain social values is moral • One who does not is immoral • One who doesn’t care is amoral • Where do your morals come from? • Name some sources.

  4. Ethics • Attempts to develop the means for determining what moral values should be • Moral Philosophy • Different for different cultures • Recommending & Defending • Politics • Professional & Personal Conduct

  5. Example Case 1 • Nathan comes from a poor family, while Erin’s family is wealthy. Nathan believes Erin has more money than she needs. Erin leaves her purse at her seat in the cafeteria unattended and Nathan steals her cash out of her purse. Nathan defended himself by saying that he needs the money more than Erin right now and she can go get more money from her family whenever she needs it. • How do you feel about the situation? Consider morality, ethics and the law.

  6. The Greatest Good • How actions affect others in society • Making an ethical decision because it would benefit a greater number of people than it would hurt • The greater the good that results, the more ethical • The greater amount of bad that results, the more unethical • Amounts or levels of Positive or Negative Consequences

  7. Example Case 2 • Elaine knows that half of her classmates cheated on their last exam. The teacher mistakenly identifies an innocent student as the only one that cheated. Elaine decides that the greatest good for the greatest number would be to not tell on her classmates. • Is this an appropriate application of The Greatest Good principle? • Identify some consequences?

  8. The Greatest Good Situation • With a partner or small group come up with a situation where “The Greatest Good” principle is applied correctly in society. • Depict the situation in your journal • 4-6 sentences, share on Thursday & Friday (15 pts) • Review: • The more it helps, the more ethical • The more it hurts, the less ethical or unethical • Consider consequences to multiple people

  9. The Golden Rule • “Do unto others as you would have them to do unto you.” • Often identified with Christianity, but many religions across the world embrace it • Buddhism: “Hurt not others with that which pains thyself.” • Empathy • Putting yourself in someone else’s shoes • Respects the dignity and worth of individuals • Those who wish to be treated with respect must first learn to respect others

  10. Example Case 3 • Steve is a good pitcher for the WH baseball team. But, he is having a bad game against Central. Out of frustration after giving up a homerun, Steve beans the next batter in the head. The umpire then ejects Steve from the game. • What should the WH coach do?

  11. Relationship Between Ethics & Law • We have discussed 3 ways to make ethical decisions: • Opinions, beliefs, feelings • Greatest Good • Golden Rule • If everyone acted by these 3 ways of making moral and ethical decisions would there be any need for the law? Why or why not? • Consider human nature.

  12. Why Law is Necessary • Morals and Ethics tell us what we should do • The law is needed because people don’t always do what they should!

  13. Law • Consists of rules of conduct established by the government of a society to maintain stability and justice • Defines legal rights and duties of the people • Provides a means of enforcing those rights through • Law Enforcement • Courts • Legislature • Regulatory Agencies

  14. Ethical and Legal Conflicts • Since the law is made by people it is imperfect • Legislators and judges bring their own opinions on morality and ethics to the lawmaking and enforcing process • Therefore, Ethics and the Law will sometimes conflict

  15. Laws Come From Different Sources • Federal and State Constitutions • English Common Law • Statutes • Court Decisions • Administrative Law

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