Business Law Study Notes

Chapter 1 Rule of police force established court-ordered principles that breed both persons equally and that regime itself obeys. Public law law that regulates the submit of government and the relations between government and sneaky persons. hugger-mugger law law that regulates the relations between common soldier persons and groups of private persons. Also referred to as Civil law. court-ordered indebtedness function for the consequences of breaking the law. Criminal obligation responsibility arising from bursting charge of an offensive activity against the government or society as a whole. normally matters of public law. Regulatory or quasi-criminal liability responsibility arising from appalles of slight serious rules of public law very much enforced with specialized regulatory tribunals set up by the government for specific purposes. Civil liability responsibility arising from a breach of a private law enforced finished a lawsuit initiated by the victim. Legal Risk eradicatement Legal fortune crinkle activities, conduct, events, or scenerios that could expose a descent to both type of effective liability. Legal risk steering a plan developed by a cable that identifies probable wakeless liability and provides preventive and remedial strategies. maturation a Legal Risk Management Plan 1. Managers moldiness undertake a legal audit of the operation.

A legal audit is a review of each area, action, and interaction of the business to identify potential difference legal liability and legal compliance risks. 2. After a comprehensive list of legal risks is d eveloped, the risks must be prioritized. ! 3. Managers must develop effective strategies to brood with each risk. 4. The business must implement the plan. 5. Plan must be revised regularly. Strategies to Manage Legal Risks: Avoid the risk. get the risk. Transfer the risk. Absorb the risk. law and Business Ethics somatic social responsibility a concept that suggests business decision-makers consider...If you lack to get a full essay, shape it on our website: BestEssayCheap.com

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