Final Exam Essay

3535 words - 15 pages

5. The Key Study Areas are as follows…..
-Business ethics: Three layers of Business ethics:
* 1) Basic values (honest, keeping promises)
* 2) Notion of fairness (how do we treat others?)
* 3) Issues related to community, environment, neighbors
Business ethics considers fairness and morals standards amidst the pressure of earning a profit and providing returns to shareholders. Sometimes we may have business ethical tensions where Employee has personal economic interests in continuing employment that may compromise certain personal moral standards.

-Ethical Models/Tests
The Blanchard and Peale Model
* Is it legal? (IF NO, analysis is done)
...view middle of the document...

Injustice occurs when people are derived of that which they have a right. Is everyone in the group better off because of this act? Would each person be willing to trade places with any of the other parties after this act takes place?
-Moral Standards
Sources of Moral Standards:
* Actual or positive Law (Companies may find ways to bend the law, however)
* Natural Law (Slavery was legal, but not moral)
* Moral relativism or situational ethics (Violation of law permitted if you are stealing food for starving family)
* Religious beliefs or Divine Intervention (Bible, Koran, etc.)

-Federal Court Structure
-NY State Court Structure
The corrected statement should be: “To bring a lawsuit in NY State, one will initiate the case in the NY Supreme Court, then appeal it to the Appellate Division, and if necessary, appeal to the NY Court of Appeals. The NY Court of Appeals is the highest Court in NY State.”
-Public law v. Private Law
Public Law: Laws enacted by some authorized governmental body.
State/Federal Constitutions
Federal Securities Laws
Zoning Laws
Criminal Statutes
Private Law
Private Law: Here, the law is developed between two individuals.
Freedom of Contract (“K”): Terms of performance agreed to by two parties equates to private law.
-Commerce Clause/Constitutional Set up/United States v. Morrison
-Interstate commerce vs. Intrastate Commerce (What can congress regulate?)

-Administrative Law Process/Administrative Law Lectures
Enabling Act by CongressAgency Study and Research of the Proposed RegulationProposed Regulations Published in Federal RegisterPublic Comment PeriodHearingsModification of Proposed RegulationPublic Comment Period on ModificationWithdrawal of Proposed RegulationCourt Challenges if Passed

The Rule is promulgated during last three steps.

Some list or outline that presented this general process was also credited. Additionally, mentioning the court challenges available was helpful.
Arbitrary and Capricious: Only requires the agency to show evidence to support the proposed rule.
Substantial Evidence Test: Rule proposed is unsupported by substantial evidence.
Ultra Vires: If the Agency passes a regulation that “goes beyond the scope of its power’ given to the agency in the enabling act.
Unconstitutional: Agency passes regulation that infringes upon constitutional rights.

-Checks and balances
The U.S. Constitution
Articles I, II, and III of the Constitution provide the framework for separation of powers
Article I:
Legislative Branch
House of Representatives (around 435 members; 2 year terms)
Senate (100 Senators; 2 per states; 6 year terms)
The U.S. Constitution
Article II: Executive Branch- President; Manner of Election: Electoral college
Executive Powers specified
Article III: Judicial Branch
Creates The Supreme Court
Authorizes Congress to establish other “inferior” courts as needed.
Congress has established...

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