WGU BUSINESS LAW FOR
ACCOUNTANTS - D216
14th0Amendment0-
0ans✔passed0in018680after0the0Civil0War,0provides,0in0part,0that0"[n]o0State0shall0.0.0.0
deprive0any0person0of0life,0liberty,0or0property,0without0due0process0of0law."
action0at0law0-
0ans✔File0a0complaint,0jury0or0judge,0judgement,0monetary0damages0or0property
action0in0equity0-
0ans✔File0a0petition,0judge,0decree,0injunction,0specific0performance,0or0rescission
administrative0agency0-
0ans✔A0federal0or0state0government0agency0created0by0the0legislature0to0perform0a0s
pecific0function,0such0as0to0make0and0enforce0rules0pertaining0to0the0environment.
appellant0-0ans✔The0party0who0takes0an0appeal0from0one0court0to0another.
appellee0-0ans✔The0party0against0whom0an0appeal0is0taken—
that0is,0the0party0who0opposes0setting0aside0or0reversing0the0judgment.
Bill0of0Rights0-0ans✔The0first0ten0amendments0to0the0U.S.0Constitution.
binding0authority0-
0ans✔Any0source0of0law0that0a0court0must0follow0when0deciding0a0case.
breaches0-
0ans✔To0violate0a0law,0by0an0act0or0an0omission,0or0to0break0a0legal0obligation0that0o
ne0owes0to0another0person0or0to0society.
business0ethics0-
0ans✔Ethics0in0a0business0context;0a0consensus0of0what0constitutes0right0or0wrong0be
havior0in0the0world0of0business0and0the0application0of0moral0principles0to0situations0th
at0arise0in0a0business0setting.
,case0law0-
0ans✔The0rules0of0law0announced0in0court0decisions.0Case0law0interprets0statutes,0re
gulations,0constitutional0provisions,0and0other0case0law.
categorical0imperative0-
0ans✔A0concept0developed0by0the0philosopher0Immanuel0Kant0as0an0ethical0guideline
0for0behavior.0In0deciding0whether0an0action0is0right0or0wrong,0or0desirable0or0undesira
ble,0a0person0should0evaluate0the0action0in0terms0of0what0would0happen0if0everybody0
else0in0the0same0situation,0or0category,0acted0the0same0way.
checks0and0balances0-
0ans✔The0system0by0which0each0of0the0three0branches0of0the0U.S.0national0governm
ent0(executive,0legislative,0and0judicial)0exercises0checks0on0the0powers0of0the0other0b
ranches.
Civil0law0-
0ans✔The0branch0of0law0dealing0with0the0definition0and0enforcement0of0all0private0or0
public0rights,0as0opposed0to0criminal0matters.
commerce0clause0-
0ans✔The0provision0in0Article0I,0Section08,0of0the0U.S.0Constitution0that0gives0Congres
s0the0power0to0regulate0interstate0commerce.
common0law0-
0ans✔a0body0of0general0rules0that0applied0throughout0the0entire0English0realm
compelling0government0interest0-
0ans✔A0test0of0constitutionality0that0requires0the0government0to0have0compelling0reas
ons0for0passing0any0law0that0restricts0fundamental0rights,0such0as0free0speech,0or0disti
nguishes0between0people0based0on0a0suspect0trait.
concurring0opinion0-
0ans✔A0court0opinion0by0one0or0more0judges0or0justices0who0agree0with0the0majority0
but0want0to0make0or0emphasize0a0point0that0was0not0made0or0emphasized0in0the0maj
ority's0opinion.
Constitutional0law0-
0ans✔Law0that0is0based0on0the0U.S.0Constitution0and0the0constitutions0of0the0various0
states.
Corporate0social0responsibility0(CSR)0-
0ans✔The0concept0that0corporations0can0and0should0act0ethically0and0be0accountable
0to0society0for0their0actions.
,cost-benefit0analysis0-0ans✔A0decision-
making0technique0that0involves0weighing0the0costs0of0a0given0action0against0the0benef
its0of0the0action.
courts0of0equity0-
0ans✔A0court0that0decides0controversies0and0administers0justice0according0to0the0rule
s,0principles,0and0precedents0of0equity.
courts0of0law0-
0ans✔A0court0in0which0the0only0remedies0that0can0be0granted0are0things0of0value,0suc
h0as0money0damages.0In0the0early0English0king's0courts,0courts0of0law0were0distinct0fr
om0courts0of0equity.
Criminal0law0-
0ans✔The0branch0of0law0that0defines0and0punishes0wrongful0actions0committed0again
st0the0public.
cyberlaw0-
0ans✔An0informal0term0used0to0refer0to0all0laws0governing0electronic0communications0
and0transactions,0particularly0those0conducted0via0the0Internet.
damages0-
0ans✔A0monetary0award0sought0as0a0remedy0for0a0breach0of0contract0or0a0tortious0ac
t.
defendant0-
0ans✔One0against0whom0a0lawsuit0is0brought,0or0the0accused0person0in0a0criminal0pr
oceeding.
defense0-
0ans✔Reasons0that0a0defendant0offers0in0an0action0or0suit0as0to0why0the0plaintiff0shou
ld0not0obtain0what0he0or0she0is0seeking.
dissenting0opinion0-
0ans✔A0court0opinion0that0presents0the0views0of0one0or0more0judges0or0justices0who0
disagree0with0the0majority's0decision.
due0process0clause0-
0ans✔The0provisions0of0the0Fifth0and0Fourteenth0Amendments0to0the0U.S.0Constitutio
n0that0guarantee0that0no0person0shall0be0deprived0of0life,0liberty,0or0property0without0d
ue0process0of0law.0Similar0clauses0are0found0in0most0state0constitutions.
Duty-based0ethics0-
0ans✔An0ethical0philosophy0rooted0in0the0idea0that0every0person0has0certain0duties0to
0others,0including0both0humans0and0the0planet.0Those0duties0may0be0derived0from0reli
gious0principles0or0from0other0philosophical0reasoning.
, Eighth0Amendment0-
0ans✔Prohibits0excessive0bail0and0fines,0as0well0as0cruel0and0unusual0punishment.
Electronic0Communications0Privacy0Act0(1986)0-
0ans✔Prohibits0the0interception0of0information0communicated0by0electronic0means.
equal0protection0clause0-
0ans✔The0provision0in0the0Fourteenth0Amendment0to0the0U.S.0Constitution0that0guara
ntees0that0no0state0will0"deny0to0any0person0within0its0jurisdiction0the0equal0protection0
of0the0laws."0This0clause0mandates0that0state0governments0treat0similarly0situated0indi
viduals0in0a0similar0manner.
equitable0maxims0-
0ans✔General0propositions0or0principles0of0law0that0have0to0do0with0fairness0(equity).
establishment0clause0-
0ans✔The0provision0in0the0First0Amendment0to0the0U.S.0Constitution0that0prohibits0Co
ngress0from0establishing0a0state-
sponsored0religion,0as0well0as0from0passing0laws0that0promote0religion0or0show0a0pref
erence0for0one0religion0over0another.
ethical0reasoning0-
0ans✔A0reasoning0process0in0which0an0individual0links0his0or0her0moral0convictions0or
0ethical0standards0to0the0particular0situation0at0hand.
ethics0-0ans✔Moral0principles0and0values0applied0to0social0behavior.
executive0agencies0-
0ans✔An0administrative0agency0within0the0executive0branch0of0government.0At0the0fed
eral0level,0executive0agencies0are0those0within0the0cabinet0departments.
federal0form0of0government0-
0ans✔A0system0of0government0in0which0the0states0form0a0union0and0the0sovereign0po
wer0is0divided0between0a0central0government0and0the0member0states.
Fifth0Amendment0-
0ans✔Guarantees0the0rights0to0indictment0(formal0accusation)0by0a0grand0jury,0to0due0
process0of0law,0and0to0fair0payment0when0private0property0is0taken0for0public0use.0Th
e0Fifth0Amendment0also0prohibits0compulsory0self-
incrimination0and0double0jeopardy0(trial0for0the0same0crime0twice).
Financial0Services0Modernization0Act0(Gramm-Leach-Bliley0Act)0(1999)0-
0ans✔Prohibits0the0disclosure0of0nonpublic0personal0information0about0a0consumer0to0
an0unaffiliated0third0party0unless0strict0disclosure0and0opt-out0requirements0are0met.
ACCOUNTANTS - D216
14th0Amendment0-
0ans✔passed0in018680after0the0Civil0War,0provides,0in0part,0that0"[n]o0State0shall0.0.0.0
deprive0any0person0of0life,0liberty,0or0property,0without0due0process0of0law."
action0at0law0-
0ans✔File0a0complaint,0jury0or0judge,0judgement,0monetary0damages0or0property
action0in0equity0-
0ans✔File0a0petition,0judge,0decree,0injunction,0specific0performance,0or0rescission
administrative0agency0-
0ans✔A0federal0or0state0government0agency0created0by0the0legislature0to0perform0a0s
pecific0function,0such0as0to0make0and0enforce0rules0pertaining0to0the0environment.
appellant0-0ans✔The0party0who0takes0an0appeal0from0one0court0to0another.
appellee0-0ans✔The0party0against0whom0an0appeal0is0taken—
that0is,0the0party0who0opposes0setting0aside0or0reversing0the0judgment.
Bill0of0Rights0-0ans✔The0first0ten0amendments0to0the0U.S.0Constitution.
binding0authority0-
0ans✔Any0source0of0law0that0a0court0must0follow0when0deciding0a0case.
breaches0-
0ans✔To0violate0a0law,0by0an0act0or0an0omission,0or0to0break0a0legal0obligation0that0o
ne0owes0to0another0person0or0to0society.
business0ethics0-
0ans✔Ethics0in0a0business0context;0a0consensus0of0what0constitutes0right0or0wrong0be
havior0in0the0world0of0business0and0the0application0of0moral0principles0to0situations0th
at0arise0in0a0business0setting.
,case0law0-
0ans✔The0rules0of0law0announced0in0court0decisions.0Case0law0interprets0statutes,0re
gulations,0constitutional0provisions,0and0other0case0law.
categorical0imperative0-
0ans✔A0concept0developed0by0the0philosopher0Immanuel0Kant0as0an0ethical0guideline
0for0behavior.0In0deciding0whether0an0action0is0right0or0wrong,0or0desirable0or0undesira
ble,0a0person0should0evaluate0the0action0in0terms0of0what0would0happen0if0everybody0
else0in0the0same0situation,0or0category,0acted0the0same0way.
checks0and0balances0-
0ans✔The0system0by0which0each0of0the0three0branches0of0the0U.S.0national0governm
ent0(executive,0legislative,0and0judicial)0exercises0checks0on0the0powers0of0the0other0b
ranches.
Civil0law0-
0ans✔The0branch0of0law0dealing0with0the0definition0and0enforcement0of0all0private0or0
public0rights,0as0opposed0to0criminal0matters.
commerce0clause0-
0ans✔The0provision0in0Article0I,0Section08,0of0the0U.S.0Constitution0that0gives0Congres
s0the0power0to0regulate0interstate0commerce.
common0law0-
0ans✔a0body0of0general0rules0that0applied0throughout0the0entire0English0realm
compelling0government0interest0-
0ans✔A0test0of0constitutionality0that0requires0the0government0to0have0compelling0reas
ons0for0passing0any0law0that0restricts0fundamental0rights,0such0as0free0speech,0or0disti
nguishes0between0people0based0on0a0suspect0trait.
concurring0opinion0-
0ans✔A0court0opinion0by0one0or0more0judges0or0justices0who0agree0with0the0majority0
but0want0to0make0or0emphasize0a0point0that0was0not0made0or0emphasized0in0the0maj
ority's0opinion.
Constitutional0law0-
0ans✔Law0that0is0based0on0the0U.S.0Constitution0and0the0constitutions0of0the0various0
states.
Corporate0social0responsibility0(CSR)0-
0ans✔The0concept0that0corporations0can0and0should0act0ethically0and0be0accountable
0to0society0for0their0actions.
,cost-benefit0analysis0-0ans✔A0decision-
making0technique0that0involves0weighing0the0costs0of0a0given0action0against0the0benef
its0of0the0action.
courts0of0equity0-
0ans✔A0court0that0decides0controversies0and0administers0justice0according0to0the0rule
s,0principles,0and0precedents0of0equity.
courts0of0law0-
0ans✔A0court0in0which0the0only0remedies0that0can0be0granted0are0things0of0value,0suc
h0as0money0damages.0In0the0early0English0king's0courts,0courts0of0law0were0distinct0fr
om0courts0of0equity.
Criminal0law0-
0ans✔The0branch0of0law0that0defines0and0punishes0wrongful0actions0committed0again
st0the0public.
cyberlaw0-
0ans✔An0informal0term0used0to0refer0to0all0laws0governing0electronic0communications0
and0transactions,0particularly0those0conducted0via0the0Internet.
damages0-
0ans✔A0monetary0award0sought0as0a0remedy0for0a0breach0of0contract0or0a0tortious0ac
t.
defendant0-
0ans✔One0against0whom0a0lawsuit0is0brought,0or0the0accused0person0in0a0criminal0pr
oceeding.
defense0-
0ans✔Reasons0that0a0defendant0offers0in0an0action0or0suit0as0to0why0the0plaintiff0shou
ld0not0obtain0what0he0or0she0is0seeking.
dissenting0opinion0-
0ans✔A0court0opinion0that0presents0the0views0of0one0or0more0judges0or0justices0who0
disagree0with0the0majority's0decision.
due0process0clause0-
0ans✔The0provisions0of0the0Fifth0and0Fourteenth0Amendments0to0the0U.S.0Constitutio
n0that0guarantee0that0no0person0shall0be0deprived0of0life,0liberty,0or0property0without0d
ue0process0of0law.0Similar0clauses0are0found0in0most0state0constitutions.
Duty-based0ethics0-
0ans✔An0ethical0philosophy0rooted0in0the0idea0that0every0person0has0certain0duties0to
0others,0including0both0humans0and0the0planet.0Those0duties0may0be0derived0from0reli
gious0principles0or0from0other0philosophical0reasoning.
, Eighth0Amendment0-
0ans✔Prohibits0excessive0bail0and0fines,0as0well0as0cruel0and0unusual0punishment.
Electronic0Communications0Privacy0Act0(1986)0-
0ans✔Prohibits0the0interception0of0information0communicated0by0electronic0means.
equal0protection0clause0-
0ans✔The0provision0in0the0Fourteenth0Amendment0to0the0U.S.0Constitution0that0guara
ntees0that0no0state0will0"deny0to0any0person0within0its0jurisdiction0the0equal0protection0
of0the0laws."0This0clause0mandates0that0state0governments0treat0similarly0situated0indi
viduals0in0a0similar0manner.
equitable0maxims0-
0ans✔General0propositions0or0principles0of0law0that0have0to0do0with0fairness0(equity).
establishment0clause0-
0ans✔The0provision0in0the0First0Amendment0to0the0U.S.0Constitution0that0prohibits0Co
ngress0from0establishing0a0state-
sponsored0religion,0as0well0as0from0passing0laws0that0promote0religion0or0show0a0pref
erence0for0one0religion0over0another.
ethical0reasoning0-
0ans✔A0reasoning0process0in0which0an0individual0links0his0or0her0moral0convictions0or
0ethical0standards0to0the0particular0situation0at0hand.
ethics0-0ans✔Moral0principles0and0values0applied0to0social0behavior.
executive0agencies0-
0ans✔An0administrative0agency0within0the0executive0branch0of0government.0At0the0fed
eral0level,0executive0agencies0are0those0within0the0cabinet0departments.
federal0form0of0government0-
0ans✔A0system0of0government0in0which0the0states0form0a0union0and0the0sovereign0po
wer0is0divided0between0a0central0government0and0the0member0states.
Fifth0Amendment0-
0ans✔Guarantees0the0rights0to0indictment0(formal0accusation)0by0a0grand0jury,0to0due0
process0of0law,0and0to0fair0payment0when0private0property0is0taken0for0public0use.0Th
e0Fifth0Amendment0also0prohibits0compulsory0self-
incrimination0and0double0jeopardy0(trial0for0the0same0crime0twice).
Financial0Services0Modernization0Act0(Gramm-Leach-Bliley0Act)0(1999)0-
0ans✔Prohibits0the0disclosure0of0nonpublic0personal0information0about0a0consumer0to0
an0unaffiliated0third0party0unless0strict0disclosure0and0opt-out0requirements0are0met.
