Busi 301 Exam 1 – Flashcards

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is a body or rules of action or conduct prescribed by controlling authority and having legal binding force.
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Law
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Systems of order that defines crimes and levies punishment for violations System for resolving disputes by providing a basis for deciding the legal interest and rights of the parties
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Purpose of Law
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Delaware and New Jersey are sepeerated by the Delaware River. New Jersey has started to build a pier extending well into the river, and Delaware claims that the construction will infrings on Delaware's navigational rights. If a lawsuit is filled, it must be filed in either a Federal Court not a state court
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True
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The highest court in the state is always called that state's Supreme Court
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False
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True
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A court may hear a case only if it has jurisdiction over both the subject matter of the dispute and the parties in the case
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True
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A state family court that hears only divorce and child related matters would be said to have a limited jurisdiction
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Measures of judicial action intended to compensate an injured party in a civil lawsuit are called maxims
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False
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False
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The member of civil cases filled annual in the state and federal courts have decreased in the last 12 years
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True
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True
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True
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Secondary sources of law are generally advisory and may or may not be adopted or followed as a states sees fit
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True
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Administrative laws include things such as regulations created and enforced by federal regulatory aganecies
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False
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A statute of limitations determines the maximum and minimum amounts of monetary relief that may be granted in different types of civil lawsuits
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True
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Even though no specific statute or regulation provides for the rights of the parties private law are recognized as binding between two parties
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True
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Law today is critical to business by creating source degree of reliability to be used in business planning and commercial traansactions
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False
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Corporate companies enjoy the protection of the Fifth Amendment against self-incrimination
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False
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Commercial speech has always been afforded protection under the Fifth Amendment
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False
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The First Amendment prohibits individuals from encroaching on or prohibiting another person's freedom of speech
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True
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A motion is a document filed by one party that requests court action in a matter pertaining to the litigation
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True
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Generally, everything relevant to a dispute is discoverable to a civil lawsuit unless protected by a legal privilege
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In-house counsel
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Business owners and managers often work closely with a business attorney
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Constitutional law Statutory Law Common Law Administrative Law
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Primary Source of Law
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Established important legal principles Not Designed to specifically resolve every legal issue or case
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Constitutional Law
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Created by a legislative body Approved or disapproved by the executive branch -Also Known as Codes
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Statutory Law
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-Made by appellate courts -Based on the fundamentals of previous cases that had similar facts -Also known as case law
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Common Law
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one of the most imoortant concepts in American law, is the principal that similar cases with similar facts and issues should have the same judicial outcome.
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Stare Decisis
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Once and appellate court has decided a particular case, the decision becomes a
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Case Precedent
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-Source of law that regulates the exercise of authority by government agengies -Also known as regulation
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Administrative Law
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have no independent authority, nor are they legally binding
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Secondary Source of Law
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Collections of uniform legal principles in a specific area of law that are designed to reduce the complexity of judicial decisions
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Restatements of the Law
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Broad categories based on classifications related to a particular legal function or a right afforded by law
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Categories of Law
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are designed to compensate parties for losses as a result of another's conduct
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Civil Law
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are a protection of society, and the violations of criminal laws results in penalties to the violator such as fines or imprisonment
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Criminal Laws
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provide individuals with rights and create certain duties
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Substantive Law
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provide a structure and set out rules for pursuing substantive rights
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Procedural law
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are those derived from some government entity
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Public laws
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are recognized as binding between two parties even though no specific statute or regulation provides for the rights of the parties
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Private laws
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the first 10 amendments
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Bill of Rights
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-Rational basis -Intermediate-level scrutiny Strict scrutiny
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Standards of Review
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Congress's broadest power is derived from the Commerce Clause whereby Congree is given the power to "regulate Commerce among the sveral states."
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Commerce Power
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1. channels of interstate commerce such as railways and highways 2. the instrumentalities of interstate commerce such as vehicles used in shipping 3. the articles moving in interstate commerce
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Application of Commerce Powers
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Congress has a far-reaching power to tax the citizenry and to spend the federal government's money in any way that promotes the common defense and general welfare.
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Tax and Spend Power
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The Constitution provides protection for the citizenry from unlawful or repressive acts by the government
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Constitutional Protections
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-Congress shall make no law -That allows government encroachment in the areas of religion, press, speech, assembly, and petition of grievances
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First Amendment
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The US Supreme Court has systematically applied a reasonableness test to define the limits of when the government may search without a warrant based on a probable cause that criminal activity is possible
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Fourth Amendment
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does not apply to corporate entities when the government is seeking certain business records, individual corporate officers and employees are entitled to ____ protection when facing a criminal investigation
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Fifth Amendment
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Fifth and Fourteenth Amendments "life, liberty, or property"
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Due Process Protections
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Perhaps the most important role of the _____ is that it makes the Bill of Rights applicable to the states.
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Fourteenth Amendment
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Most privacy rights afforded by the U.S. Constitution do not extend to the workplace
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Workplace Privacy
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1. courts adjudicate disputes 2. certain courts are charged with the responsibility of judicial review
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Role of Judiciary
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State courts Federal Courts
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Structure of the Judiciary
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the majority of the court cases filed in the US are filed in the ___
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State Courts
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- The principle trial courts are the US district courts -Federal appellate courts are called the US courts of appeal -Finally, the US Supreme Court is the ultimate arbiter of federal law
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Federal Courts
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- The ultimate arbiter of federal law are the nine justices of the US Supreme Court -Although the court has both original and appellate jurisdiction, the primary role of the court is to finalize a legal decision on any given case
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US Supreme Court
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A party filing for an appeal must file a ____
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Writ of Certiorari
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is a courts authority to decide a particular case based on: 1 who the parties are and 2. the subject matter of the dispute
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Jurisdiction
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a determination of the most appropriate court location for litigating a dispute
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Venue
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Federal question or Diversity of citizenship, parties from two different states, amount in a controversy more then $75,000
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Subject Matter Jurisdiction
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-In-state vs. out-of-state defendants -state long-arm statute -minimum contracts
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Personal Jurisdiction
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is the legal concept that defines the most appropriate location for the trial within the jurisdiction. In a civil case the trial is where the defendant resides, but in a criminal case it is where the crime took place.
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Venue
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A dispute resolution process where the parties and their counsel argue their view of a civil controversy in a court of law
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Civil Litigation
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From 1980 to 2005, the number of civil cases filed in federal courts more than doubled
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Litigation
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If the issues are relatively simple, this can be accost-efficient method to resolve a dispute fairly and quickly
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Pre-lawsuit: Demand/Settlement Negotiations
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the party assessing the claim must have suffered an injury
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Standing
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The party who initiates a lawsuit by filing a complaint with the clerk of the court against the defendant
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Plaintiff
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The party sued in a civil lawsuit
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Defendant
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-Complaints and Summons -Answer -Counterclaim -Cross-claims
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Pleading stages
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-Depositions -Interrogatories -Request for production -Request for admissions
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Discovery Stage
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-to dismiss -for summary judgment -to compel discovery -to dismiss for mistrial -for judgment as a matter of law
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Motions used during litigation
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generally takes place in front of judge as the finder of law and with a jury as finder of fact
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Trial
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the question process to select a jury
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voir dire
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the judge gives instuctions on how to work through the process of coming to a factual decision
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charges the jury
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the judge will also inform the jury that the standard of prof I a civil case is a
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preponderance of the evidence
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Ater receiving the charge, jurors move to a private room and engage in
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Deliberations
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engage in judicial review to decide whether any errors were committed during the trial and also have the power to reverse or modify the decisions of trial courts
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Appellate courts
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is becoming increasingly common as a cost-efficient informal and does not require as much time or preporation as arbitration
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Mediation
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Addresses how one should act in a given situation A systematic set of rules used to define decision making and choice of action when one is confronted with a moral dilemma
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Ethics
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is an expansive term that includes a business entity's owners, investors, employees, customers, suppliers, and the wider community
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Stakeholders
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ethical decisions made according to a set of established principles, such as religious tenets.
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Principle-based approach
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Provides the most good for the greatest number of people
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Consequences-based approach
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-Define the dilemma -Identify the impact -Apply standards -Develop choices and discuss impact with various constituencies -Implement, evaluate and monitor
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Ethical Decision Making
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The systematic looting of the corporation by its executives and the massive fraud and subsequent cover-ups that culminated in a public crash
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The Enron SCandal
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Kenneth Lay- Chariman Jeffery Skilling- CEO Andrew Fastow- CFO Rick Causey- Chief Accountant Arthur Andersen- Audit/CPA
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Key Enron Players
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What is good for business is good for America because the market's efficiencies provide an invisible hand the guides morality and responsibility. Corporations acting unethically would inevitable suffer
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The Narrow View: Invisible Hand
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The regulatory hands of the law and the political process, rather than Smith's invisible hand, provide the basis for ethical decision making
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The Moderate View: Government Hand
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The broadest view of CSR is that corporations have a social responsibility and that profitability is secondary
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The Broad View: Management's Hand
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True
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The constitution has amendments that help protect citizens from certain types of acts
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False
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The broad objective of the constitution
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False
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At trial the judge decides the law and jury decides the fact
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False
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Mediation is entered into on a voluntary basis and cannot be legally mandated
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true
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The US system of common IW is deep seated in the English common law
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true
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State Common law
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False/ Limited Jurisdiction
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A state family court hearing only divorced and child related matters could be said to have partial jurisdiction
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True
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A person with ownership interests in a business venture is called a principal
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True
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Generally accepted standards of in a society of right and wrong are called morals
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false
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Companies and people directly and indirectly affected by another companies decisions are called obtuse partnerships
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true
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Prioritizing morale values of an organization and ensuring that behaviors are aligned
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false
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That society is best served when companies aggressively seek a competition
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true
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The moderate view of assessing corporate citizenship holds that the government should provide the exclusive law of corporate responsibility
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true
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Nobel prize winning Milton Friedman believed that the only responsibility a business has is to maximize shareholders wealth
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true
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Codes of ethics are insufficient and do not serve their proper purpose
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false
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The fundamentals underlying company of social responsibility is that conscience resides in
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true
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In terms of assessing personal jurisdiction a business entity is considered a person
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true
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A court must possess subject matter jurisdiction
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