BUSI 561 Chapter Notes - Chapter 2: Federal Register, Rulemaking, Congressional Record
Document Summary
Chapter two: introduction to law and the legal environment of. Legal environment of business: the study of the legal reasoning, critical thinking skills, ethical norms, and schools of ethical thought that interact with the law. Five features: critical thinking skills, legal literacy, an understanding that the law is dynamic, not static, real world problems, interdisciplinary nature. Jurisprudence: the science or philosophy of law; law in its most generalized form. Reasons for studying the legal environment of business (10) Familiarizing yourself with the legal limits on business freedom. Schools of jurisprudence (7: natural law school, american realist school, critical legal studies school, law and economics school. Source of law is absolute (nature, god, or reason) Just law: a manmade code that squares with the moral law or the law of god. Unjust law: a code that is out of harmony with the moral law. Source of law is contemporary community opinion and customs.
