The Business Judgment Rule states that as long as the board members have acted in good faith and meet the basic standards, there should not be a fear of prosecution when making decisions (Bagley & Savage, 2009 p. 801). To insure that the board of directors did not fault their duty of care and the Business Judgment Rule several items must be analyzed.…
Laws are placed to ensure peoples safety and rights. The government makes these laws, who are a competent authority. They are elected or chosen because of their qualifications and ideas to improve the government and…
Throughout history laws have been in place to restore or keep order in society. Some laws are put into place to protect while some laws are made to punish. No matter the purpose, laws are put in place with the expectation they will be followed.…
When you break a rule you can suffer consequences for doing so, they are not as serious as the consequences you will experience if you break the law. Laws strike a balance between individual freedom and the needs of society.…
Laws are as ancient as civilization. They are necessary for the common good and for the welfare of society. Black’s Law Dictionary, as quoted by Melvin (2012), defines law as a “body of rules of action or conduct prescribed by controlling authority, and having legal binding force”. In other words, laws are rules of behavior that are legally binding and are enforced by controlling authority. Laws affect every aspect of our lives but most of the time we are not aware of them. We pay our taxes, observe the speed limit, and avoid stealing, without having a sense of being watched. Honesty and truthfulness are natural for most people. However, laws protect the rights of individuals and business entities and allow for compensation when injury has been inflicted.…
The Law is a systematic set of rules to control conduct within a society, created by parliament and is enforced by courts.…
Laws are the rules that every human being is supposed to abide by. Laws are set in place to ensure everyone’s safety and well being, as well as to help run a society. Good laws protect all kinds of people regardless of their gender, race, culture, age, how much money they have or what “class” they belong to. Laws can be unfair and prejudicial to certain people.…
Laws are “the body of rules or principles, prescribed by authority or established by custom, that a state, community, society, or other group recognizes as binding on its members” (Ferguson Publishing, 1999, p. 105). The purposes of laws are to maintain peace and order, to define the rights of citizens, to secure justice, to harmonize conflicting interests, and to provide means for punishing wrongdoers. Laws are applied and interpreted by courts. The courts do not seek out law-breakers but hear only those cases brought before them by private citizens or by the executive branch of the government. The enforcement of laws, therefore, is an administrative, rather than judicial function.…
However, others believe that people only follow the rules of the law because they do not want to get into trouble and face up to any punishments. They believe without the law ethics and morals would not exist. This means that, for example, murder or rape would be socially accepted because there is no one to say it is wrong. Therefore the only reason people don’t do these unacceptable things is so they do not have to take any consequences such as going to court or prison.…
The difference between law and ethics is that law is a set of rules and regulations that are universal and should be accepted and followed by society and organizations. Ethics on the other hand was derived from the latin word mores and Greek word Ethos means the beliefs and customs that help shape the character of individuals and how people interact with one another…
Law and Morals are also reflective in some respect. There are instances where acts can be viewed as both illegal and immoral. For example: stealing, murder, rape and fraudulent acts. These same acts under the law are punishable and those who harm others should compensate for the damage they have done.…
If there is a group of people living together then laws are necessary to ensure a peaceful society and avoid disorder. The government enforces law through the police, courts and other agencies. Power can produce many positive results, but this power the government controls is often abused and in many cases they enforce law with brutality which is completely different from its original purpose. Law was established to benefit the people but sometimes through the abuse of power like police brutality, its enforcement defers its original purpose.…
of action when one is faced with an ethical dilemma. On the other hand, laws…
Laws have been around for thousands of years and serve many different purposes. Laws set boundaries. Without law, how do you know what is right or wrong? Laws make it clear for all who are under them. Their purpose is supposed to be for the protection of society. Laws are for sure needed in society to ensure the safety of the people and to ensure functions properly and efficiently.…
At first there seems to be no distinction between law and morality. There are passages in ancient Greek writers, for example, which seem to suggest that the good person is the one who will do what is lawful. It is the lawgivers, in these early societies, who determine what is right and wrong.…