Business Law and Ethics

Course Description

Any society worthy of the name has laws. laws form the very basic of society, and modern societies have extremly elaborate systems governing both criminal behavior and civil matters. Business law governs the conduct of people and organizations engaged in business Major areas of business. Busines law govern the formation of business such as partnerships and corporations. a corporation is a " legal person" and this means it has certain rights, such as the right to purchase and own property, and responsabilities, such as paying taxes, just as a person.

The financial accounting and stock trading scandals of the early 2000s revealed a high level of greed and self- dealing among managers of some compagnies. During the rest of that decade, greed and malfeasance concentrated itself in the US. financial sector , particularly in the mortgage origination, lending and securitization industry. Wrongdoing and greed occur in all institutions and professions, so business and banking did not corner the market on legal trouble and ethical lapses. Yet given the scale of wrongdoing and greed that seems to permeate business it is clearly time for businesspeople to understand their legal and ethical responsabilities. Ethics are moral guidelines that tell you from wrong. Business ethics tell you what is right or wrong in business situation.

Course Objectives

The Objective of this course is to develop the understanding of the student of the legal and ethical issues in business. The course will focus on how business and society interact, the key areas of the law that concern managers, the importance of business ethics.