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In addition, certain contracts are required by state law to be in writing (real estate transactions, for example), while others are not. [2] Wade and Honeyman [3] describe a ‘durable’ contract as one in which all parties substantially perform without abandonment and without resorting to legal proceedings. With only anecdotal evidence, it is ...
In business ethics, Ethical decision-making is the study of the process of making decisions that engender trust, and thus indicate responsibility, fairness and caring to an individual. To be ethical, one has to demonstrate respect, and responsibility. [ 1 ]
Business ethics operates on the premise, for example, that the ethical operation of a private business is possible—those who dispute that premise, such as libertarian socialists (who contend that "business ethics" is an oxymoron) do so by definition outside of the domain of business ethics proper.
Such examples are quite common and can include cases from everyday life, stories, or thought experiments, like Sartre's student or Sophie's Choice discussed in the section on examples. [10] The strength of arguments based on examples rests on the intuition that these cases actually are examples of genuine ethical dilemmas.
Commercial law (or business law), [1] which is also known by other names such as mercantile law or trade law depending on jurisdiction; is the body of law that applies to the rights, relations, and conduct of persons and organizations engaged in commercial and business activities.
Behavioral ethics is a field of social scientific research that seeks to understand how individuals behave when confronted with ethical dilemmas. [1] [2] It refers to behavior that is judged within the context of social situations and compared to generally accepted behavioral norms.
The Heinz dilemma is a frequently used example in many ethics and morality classes. One well-known version of the dilemma, used in Lawrence Kohlberg's stages of moral development, is stated as follows: [1] A woman was on her deathbed. There was one drug that the doctors said would save her.
According to Aristotle, how to lead a good life is one of the central questions of ethics. [1]Ethics, also called moral philosophy, is the study of moral phenomena. It is one of the main branches of philosophy and investigates the nature of morality and the principles that govern the moral evaluation of conduct, character traits, and institutions.