DOC PREVIEW
U of M ACCT 3130 - Legal, Social, and Political Environment of Business

This preview shows page 1 out of 2 pages.

Save
View full document
View full document
Premium Document
Do you want full access? Go Premium and unlock all 2 pages.
Access to all documents
Download any document
Ad free experience
Premium Document
Do you want full access? Go Premium and unlock all 2 pages.
Access to all documents
Download any document
Ad free experience

Unformatted text preview:

SOC 3650 1st Edition Lecture 1Current LectureLaw: A set of rules imposed by society upon the member thereof, which, if not adhered to, will lead, at least in theory, to the imposition of a penalty upon the one failing to adhere. Two Groups of Society: Imposing and Imposed upon.Imposing: Imposed Upon: Rich Poor Knowledgeable Ignorant (those who are capable of learning) Smart Stupid (those who are incapable of learning) Educated UneducatedSubstantive and Procedural Law: (This is essentially the “What and How”). Substantive Law is what you CAN and CANNOT do. What the law “is”. Procedural Law is the use of the law in real life/ practical scenarios. It is the practice of law. “Doing something with the law.”Public Law: Involves the government and pertains to circumstances when an individual harms society. (i.e. State of Tennessee vs. John Smith)Private Law: One person versus another person and in some cases the government could be indirectly involved. Civil Law: Crime against a single personCriminal Law: crime against society Sources of Law Constitutions: Protects society from the government but not from private entities. (due process rights include: life, liberty, and property)These notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.Legislative enactment: Common law. Common law is the law that courts follow and this law is created bycourts in absence of a point. The courts may change these common laws if many cases of the same nature bring that particular law into question. Administrative Law: Protects consumers against improper business practices. ( i.e. OSHA, EPA, SCC, ect.) Executive Orders: When a governmental figure states, “This is the way it will be” (i.e. president Clinton is famous for the “Don’t ask don’t tell” executive order because. The president can administer this type of executive order for the military because he was the commander and chief of the military. Also, there is an executive order for diversity in business thus racial quotas. Treaties: A contract between countries. Always an international matter. (i.e. Mutual defense treaties, treaty of Versailles, etc.) A treaty is only valid as long as things stay the same between each country involved. Statues: Enactments of congressWhy do we make the law(s) that we do?Religious Beliefs, moral, and ethical values: The Bible is the source of many of the laws that are still enacted today. History/experience: Go with what history and experience has shown works. This is more reliable than logic. (“If it ain’t broke, don’t fix it!”)Social Influences: Society heavily influences laws that the “people” feel need to be enacted. (i.e. Brown vs. Board of Education- Ending segregation in schools. In this case society rose and did various things to change this law (write a book, protests, stand-offs, etc)Self interest: Good laws benefit me, Bad laws do not benefit me, and Neutral laws do


View Full Document

U of M ACCT 3130 - Legal, Social, and Political Environment of Business

Documents in this Course
Load more
Download Legal, Social, and Political Environment of Business
Our administrator received your request to download this document. We will send you the file to your email shortly.
Loading Unlocking...
Login

Join to view Legal, Social, and Political Environment of Business and access 3M+ class-specific study document.

or
We will never post anything without your permission.
Don't have an account?
Sign Up

Join to view Legal, Social, and Political Environment of Business 2 2 and access 3M+ class-specific study document.

or

By creating an account you agree to our Privacy Policy and Terms Of Use

Already a member?