LAW 122 Lecture Notes - Lecture 1: Ultra Vires
23 Mar 2016
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Document Summary
Business decisions have legal consequences: negative: e. g. dumping pollutants into environment, positive: binding contractual party to promise. Legal consequences affects profits and losses: some decisions impose liability, others create opportunities. Law sets the framework for risk; it gives you tools to manage the risk. A set of principles and rules that courts will enforce. A way of thinking (or reasoning) about these principles and rules. It is not just the result of a case (who won?) that matters. The reasons for the result are where law happens. So, it is important to ask why and how , not just who won . Behaviors: immoral but not illegal, immoral and illegal, moral but illegal. Focus on why something is ethically right or wrong not just whether it is right or wrong. When values collide, we can use different modes of analysis to make good judgements in hard cases.
