Chapter 1 Vocabulary
Act - law passed by Congress
administrative regulation - rule made by administrative agencies that has the same force and effect as statutes and court decisions
business ethics - branch of ethics that relates to what is right or good in business settings
case law - law arrived at through court decisions
civil law - law dealing with the relationships between individuals
code of ethics - document outlining the type of ethical behavior expected of an employee on the job
common law - unwritten law based on local English customs
constitutional law - law derived from the U.S. Constitution and the constitution of the individual states
criminal law - laws that deal with the relationships between individuals and society and that maintain order
equity - nonmonetary relief granted by courts when money damages are inadequate
ethics - inquiry into the moral judgments people make in deciding what is right or wrong
law - enforceable set of rules of conduct
ordinance - law passed by local governments such as cities, towns, and villages
precedent - example or standard for deciding subsequent cases involving the same or similar facts
statute - law passed by legislative bodies rather than by the courts
Uniform Commercial Code (UCC) - a compilation of commercial common law principles
Act - law passed by Congress
administrative regulation - rule made by administrative agencies that has the same force and effect as statutes and court decisions
business ethics - branch of ethics that relates to what is right or good in business settings
case law - law arrived at through court decisions
civil law - law dealing with the relationships between individuals
code of ethics - document outlining the type of ethical behavior expected of an employee on the job
common law - unwritten law based on local English customs
constitutional law - law derived from the U.S. Constitution and the constitution of the individual states
criminal law - laws that deal with the relationships between individuals and society and that maintain order
equity - nonmonetary relief granted by courts when money damages are inadequate
ethics - inquiry into the moral judgments people make in deciding what is right or wrong
law - enforceable set of rules of conduct
ordinance - law passed by local governments such as cities, towns, and villages
precedent - example or standard for deciding subsequent cases involving the same or similar facts
statute - law passed by legislative bodies rather than by the courts
Uniform Commercial Code (UCC) - a compilation of commercial common law principles