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Solution Manual for Corporate Financial Accounting 15th Edition Warren

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Solution Manual for Corporate Financial Accounting 15th Edition Warren/Solution Manual for Corporate Financial Accounting 15th Edition Warren/Solution Manual for Corporate Financial Accounting 15th Edition Warren/Solution Manual for Corporate Financial Accounting 15th Edition Warren/Solution Manual for Corporate Financial Accounting 15th Edition Warren

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Part One:
Introduction to Law and Ethics



CONTENTS




Chapter 1 Introduction to Law
Chapter 2 Business Ethics



ETHICS QUESTIONS RAISED IN THIS PART
1. Are all laws moral? Should all laws be moral? How should morality be determined?
2. Are laws always just?
3. Which is more important, morality or justice?
4. Why is there a difference between the treatment of cases brought under civil law and those brought under criminal
law? Should there be a difference?



ACTIVITIES AND RESEARCH PROBLEMS
1. Have students draw a diagram of two overlapping circles, with one circle labeled “Moral” and the other labeled
“Legal.” The area of overlap would be both moral and legal. Then list several controversial topics of current
interest (e.g., abortion, genetic engineering, marijuana smoking, etc.) for students to place within an area of the
diagram (or outside the circles if it is neither moral or legal). Can any of these issues be absolutely determined to
be moral or immoral?
2. Have any laws in our country’s history been repealed on the basis of their immorality? Are there any laws still in
existence that should be repealed? Have students discuss their opinions.
3. How does American common law differ from English common law?
4. Have students write a fictitious case involving questionable ethics in a business decision.




© 2020 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted
in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.

, CHAPTER 1 INTRODUCTION TO LAW


Chapter 1


INTRODUCTION TO LAW

A. Nature of Law C. Sources of Law
1. Definition of Law 1. Constitutional Law
2. Functions of Law 2. Judicial Law
3. Law and Morals a. Common Law
4. Law and Justice b. Equity
B. Classification of Law c. Restatements of Law
1. Substantive and Procedural Law 3. Legislative Law
2. Public and Private Law a. Treaties
3. Civil and Criminal Law b. Executive Orders
4. Administrative Law
D. Legal Analysis


Cases in This Chapter

Note: This case is provided as a part of the lesson on teaching students how to brief.
Caldwell v. Bechtel, Inc.


Chapter Outcomes

After reading and studying this chapter, the student should be able to:
 Identify and describe the basic functions of law.
 Distinguish between (a) law and justice and (b) law and morals.
 Distinguish between (a) substantive and procedural law, (b) public and private law, and (c) civil and
criminal law.
 Identify and describe the sources of law.
 Explain the principle of stare decisis.



TEACHING NOTES

Law concerns the relations between and among individuals as those relations affect social and economic order.
It affects the rights and duties of every citizen and many non-citizens.
Law is both prohibitory, meaning certain acts must not be committed, and mandatory, meaning certain acts
must be done, sometimes in a set way. Additionally, law is permissive: certain acts are allowed, but not
required by the law.



© 2020 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted
in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.

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