Introduction to Business Law and Ethics

Information about Introduction to Business Law and Ethics

Published on December 30, 2008

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Introduction to Business Law and Ethics : Introduction to Business Law and Ethics What is Ethical and Unethical Behavior? : What is Ethical and Unethical Behavior? ETHICAL Behavior: Behavior that is morally accepted as “good”; “right” in a particular setting UNETHICAL Behavior: Behavior that is “bad”; “wrong” in a particular setting Let’s be clear on the terms : Let’s be clear on the terms LAW: Rules created by the governing body of a society to maintain harmony, stability and justice in that society. MORALS: Values that govern society’s attitude between right and wrong. ETHICS: Developing a way of determining what values ought to be—How we ought to act—embraces characteristics of honesty, fairness, compassion, integrity. The Relationship between Law and Ethics : The Relationship between Law and Ethics Society has instituted THE LAW that tells us certain conduct is unacceptable and will administer punishment. The Law cannot administer punishment for unethical behavior----BUT---- WHY are we mixing LAW with MORALS and ETHICS? : WHY are we mixing LAW with MORALS and ETHICS? What we “value” impacts society Changing morals impacts our value system Society impacts the formation of law. OVERVIEWSources of Law : OVERVIEWSources of Law Constitutional Law (Federal and State) Statutory Law (Federal and State) http://www.legis.state.wi.us/rsb/Statutes.html http://folio.legis.state.wi.us/cgi-bin/om_isapi.dll?clientID=34572557&infobase=stats.nfo&jump=top Administrative Regulations http://nxt.legis.state.wi.us/nxt/gateway.dll?f=templates&fn=default.htm&vid=WI:Default&d=codex&jd=top Court Decisions through interpreting the law STATUTORY LAW : STATUTORY LAW Federal laws (statutes) are compiled in the USC (United States Code) http://www4.law.cornell.edu/uscode/ Commercial transaction laws are compiled in the UCC (Uniform Commercial Code) http://www.law.cornell.edu/ucc/ucc.table.html Wisconsin laws (statutes are compiled in the WI Stats. (Wisconsin State Statutes) http://www.legis.state.wi.us/rsb/Statutes.html http://folio.legis.state.wi.us/cgi-bin/om_isapi.dll?clientID=34572557&infobase=stats.nfo&jump=top Court Systems : Court Systems Federal Court System State Court System Slide 9: FEDERAL COURT SYSTEM Slide 10: It’s SURVEY Time Duty to Rescue : Duty to Rescue What is duty to rescue? Generally as citizens, do we have a duty to rescue? In what situations would someone have a duty to rescue? Wisconsin law Look at the cases: Yania v. Bigan Questions page 8 Slide 12: WISCONSIN’S “GOOD SAMARITAN” STATUTE §895.48   895.48 Civil liability exemption; emergency care, athletic events health care, hazardous substances and information concerning paternity. Summary of Ethical Theories : Summary of Ethical Theories Utilitarianism Free Market Ethics Deontology Virtue Ethics Using #6, apply the theories : Using #6, apply the theories Free Market (Milton Friedman) Utilitarianism Deontology Virtue Ethics Character Ethics, Business, Law : Character Ethics, Business, Law "In the long run, there's no capitalism without conscience. There is no wealth without character." President George W. Bush Source: Washington Post, Wednesday, July 10, 2002

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