The Nature and Sources of Law
What are the primary sources of law in the United States?
Statutory law, case law, administrative regulations.
What is the function of appellate courts?
To review decisions made by lower courts for errors
Define corporate social responsibility (CSR)
Business model that holds a company accountable to stakeholders and society
Which amendment protects freedom of speech
First Amendment
What is the purpose of antitrust laws
To promote competition and prevent monopolies
How does a bill become a law in the United States?
Introduced, committee review, debate and vote, presidential approval
Describe the process of jury selection
Random selection from a pool of potential jurors
What ethical considerations should businesses take into account?
Fair treatment of employees, honesty in advertising, environmental responsibility, etc.
What are the three branches of government outlined in the Constitution?
Legislative, executive, judicial
What is the difference between civil law and criminal law?
Civil law deals with disputes between individuals or organizations, while criminal law deals with offenses against the state.
Explain the concept of price fixing.
Agreement between competitors to set prices
What are the steps in a civil lawsuit
Filing a complaint, discovery, trial, verdict
Discuss the role of whistleblowers in business ethics.
Reporting illegal or unethical behavior within an organization
How does the Constitution protect against abuse of power?
Through checks and balances between branches of government
Describe the Sherman Antitrust Act.
First federal antitrust law, aimed at preventing monopolies and promoting competition
What is the significance of the case of Marbury v. Madison?
Established judicial review
What is alternative dispute resolution (ADR)
Methods of resolving disputes outside of court, such as mediation or arbitration
Explain the concept of corporate governance.
Systems and processes to direct and control a company
How does the Bill of Rights protect individual rights
By limiting the powers of the government
Give an example of a company that faced antitrust charges.
Microsoft, Google, etc.
What is the doctrine of stare decisis?
Legal principle of following precedent
How does mediation differ from arbitration?
Mediation involves a neutral third party facilitating negotiations, while arbitration involves a third party making a binding decision
How can businesses promote diversity and inclusion?
Through inclusive hiring practices, diversity training, and creating a supportive environment
What is the process for amending the Constitution?
Proposal by Congress or convention, ratification by states)
Discuss recent antitrust cases in the tech industry.
e.g., Google's antitrust lawsuit by the Department of Justice