Smith and robersons business law 17th edition pdf download

Cases blend landmark and current decisions with edits to preserve the language of the court. More than classroom-tested figures, diagrams, and summaries emphasize the fundamental concepts, principles, and rules of law that apply to business transactions. Readers gain insights into the function and operation of courts and administrative agencies as well as potential legal problems for businesses.

This trusted, thorough text ensures a solid understanding of modern business law. Please select an option. View More Purchase Options. Richard A. View as Instructor. Whether you need access offline or online, in print or on your mobile device, we have cost saving options.

Tell me about Cengage eTextbooks. Best value! Access your book immediately! A Lack of corporate focus on profitability. B Unfairness to company employees and shareholders. C Lack of accountability. Nineteen-year-old Martin was raised in a loving family that attended a Christian church regularly and he attended parochial school through eighth grade.

Martin is a good student and citizen who conforms to the expectations of his church, family, and peers. He does so because he loves his family and church, is loyal to them, and trusts them. A are excessively pragmatic. B are rigid and excessively formal. C only consider actions by their motives. D fail to consider universal principles.

A common criticism of ethical relativism is that it: A promotes open-mindedness and tolerance. C is rigid and excessively formal. D is too judgmental. The type of moral equality espoused by John Rawls is: A freedom to do what one wishes. B social and material equality. C freedom from government regulation. D equality of opportunity, not of results. An auto designer chooses to devote his efforts to designing an automobile that is the safest vehicle possible. He does so because he wishes to save lives and prevent disabling injuries.

He believes he and his employer have a duty to provide the public with the safest possible vehicle. B deontological. C ethically relative. D ethically fundamental. Adam Smith, in The Wealth of Nations, said the capitalistic system was composed of institutions which include all but which of the following? ESSAY Analyze whether telling a lie is unethical in terms of each of the following ethical theories.

Graders Info : Answers will vary but should generally consider the following items in analyzing whether telling a lie is unethical. Immanuel Kant was a deontological theorist. Deontological theories in general hold that certain underlying principles are right or wrong irrespective of any pleasure or pain calculations.

Deontologists believe that actions cannot be measured simply by their results but must be judged by means and motives as well. To Kant, for an action to be moral, it must: 1 be possible for it to be made into a universal law to be applied consistently; and 2 be respectful of the autonomy and rationality of all human beings.

It must not treat them as an expedient. Under his theory, it would be immoral to lie to a colleague if one could not support the right of all colleagues to lie to one another. Utilitarianism assesses good and evil in terms of the consequences of the action. Act utilitarianism assesses each separate act according to whether it maximizes pleasure over pain. Under act utilitarianism, if telling a lie in a particular situation will produce more overall pleasure than pain, then it is ethical to lie.

Rule utilitarianism holds that general rules must be established and followed even though, in some instances, following rules may produce less overall pleasure than not following them. Intuitionism holds that a rational person possesses inherent powers to assess the correctness of actions. Thus, a lie would be unethical if the majority of the public believed it to be unethical under the circumstances. Ethical relativism asserts that actions must be judged by what individuals feel is right or wrong for themselves.

It holds that morality is relative. In most situations, ethical relativism would hold that lying is ethical if an individual feels it is right for herself or himself. Ethical fundamentalism looks to a central authority or set of rules to guide its adherents in ethical decision-making. The central authority may be the Bible, the Koran, prophets, or documents. Whether lying is unethical would depend upon the particular source of authority used.

Whatever that source is would absolutely determine whether or under what circumstances lying is ethical. Many ethical fundamentalists believe that lying is always unethical. Others believe it is unethical in most, but not all, circumstances.

Whatever rule the central authority states would be absolutely followed by an ethical fundamentalist. Neal is the young, likable, optimistic, and generous son of a prominent public official. Neal also serves as a director on the board of the Bonanza Savings and Loan Association. While serving on the Bonanza Board, Neal votes to approve major loans to Ken and Bill without disclosing to the other directors that he is a business partner of Ken and Bill.

Federal banking officials, who then liquidate its assets to pay its creditors and depositors, seize Bonanza. Because Bonanza is federally insured, a substantial amount of tax money is also used to pay off depositors whose deposits are insured under federal programs. Bonanza shareholders lose their investment money.

Analyze his conduct in light of the following ethical theories. Graders Info : Student answers will vary greatly but should consider factors such as the following in their analysis.

After disclosing his business ties, Neal should then have refrained from voting on issues involving his business partners, especially when there was a chance he might personally benefit from any loans given to the two men.

Milton Friedman argues that businesses are artificial entities established to permit people to engage in profit-making activities. The social obligation of a corporation is to make money for its shareholders. Neal fails this test, because his actions were intended to make money for himself and his own business partners rather than for the Bonanza shareholders.

Deontological theories hold that actions cannot be measured simply by their results but must also be judged by their means and motives as well. These motives are likely to involve some intent to benefit himself as well as his business partners more than they are to benefit the shareholders and depositors of Bonanza. Kant believed that for an action to be moral, it must 1 be possible for it to be made a universal law to be applied consistently; and 2 be respectful of the autonomy and rationality of all human beings and not treat them as an expedient.

Utilitarianism assesses actions in terms of the consequences of those actions. Rule utilitarianism holds that general rules must be established and followed even though, in some instances, following the rules may produce less overall pleasure than not following them. It supports rules that on balance produce the greatest satisfaction. Ethical relativism passes no judgment on what the person did other than to determine that the person truly believed the decision was right for him.

Compare the social ethics theories of distributive justice and libertarianism. How are they alike? How are they different? Explain your answer.

Graders Info : Social ethics theories assert that special obligations arise from the social nature of human beings. John Rawls is a leading proponent of distributive justice.

Adherents such as Robert Nozick stress liberty rather than justice as the most important obligation that society owes its members. It is not unjust to a libertarian that some people become wealthy while others have little or nothing. They oppose interference by society in their lives. To a libertarian, it is unjust for society to take the wealth of one citizen in order to distribute it to others who did not earn it.

Social ethics theories judge society in moral terms by how it is organized and how it distributes goods and services. Discuss which of the social ethics theories listed below you most agree with and why. Discuss your reasons for disagreeing with the others. Distributive justice b. The goal of this question is to have the students apply what they are learning to their own view of acts, decisions, and perspectives.

The students can be encouraged to use examples from recent events as reported by the media to illustrate their viewpoint. Harvard philosopher, John Rawls, proposed this theory. Such a society would not be strictly egalitarian. Equality of opportunity, not results, would be stressed.

Social egalitarians believe that society should provide all persons with equal amounts of goods and services without regard to the contribution each person makes to society.

Libertarians focus on the marketplace as a determiner of what is best for society. Through his observation of human behavior, psychologist Lawrence Kohlberg developed a model of moral development.