Government
What Branch of Government is the President
Who Does Business Law Protect?
Difference between Ethics & Law
Laws are legally mandated, Ethics are personal
Where do State Laws apply
The State that made them
Where do Federal Statues (Laws) apply?
All 50 States
What is Highest Court in America (usually rules on Constitutional Issues)
Supreme Court
The source and basis of all laws in the country (Hint: Has Amendments)
The Constitution
Personal: Everyday Life Ethics
Professional: Ethics in Workplace
A mark or impression placed on a written contract indicating that the instrument was accepted
Seal
When are unethical & illegal business practices ok?
Never
Highest consequence for not following law
Prison/Jail Time
This law protects consumers when they buy defective vehicles
Lemon Law
The exchange of benefits and detriments by parties to an agreement
Consideration
These include food, clothing, shelter and medical care
Necessaries
What Branch of Government is Congress
How do Administrative Regulations effect laws?
They provide rules for how Law will be applied and enforced
The taking back of an offer by the offeror
Revocation
The cost of a loan in dollars and cents
Finance charge
A minor who is no longer under the control of their parents is considered what
Emancipated
Legal Process of going to a higher court after lower court ruling
Appeal
The two ways administrative regulations are developed
Formal & Informal
Choosing NOT to reveal important information
Concealment
A bank or loan company can do this if the car was stolen or people don't make their payments
Repossess
This type of insurance applies to damage to your vehicle from sources other than collision, including fire, theft, lightning, flood, hail, etc.
Comprehensive Insurance