Term Paper on "Business Knowledge of the Law"
Term Paper 8 pages (2325 words) Sources: 2
[EXCERPT] . . . .
BusinessKnowledge of the Law Is a Business Asset
Relationship between Ethics and the Law in Business
Why is knowledge of the law considered to be a business asset?
Whatever the power and influence of the lawyers prior to the client's arrival at court, it becomes overwhelming once the parties are on court premises. The powerlessness of clients in the hands of their professional retainers becomes acute. The lawyers control the proceedings because it is they who possess the requisite specialist knowledge. Clients, as employers, have to accept responsibility for the actions of their employees, but their instructions are based on their employees' own advice. They are caught in the lawyers' web of power.
This web is constructed from the triadic interaction of knowledge, culture and discourse. The detailed knowledge of the law, which of course is what people engage lawyers for, is also what sets lawyers apart from other people in the legal setting; and it is the legal setting which allows the lawyer to create an aura of superiority vis-a-vis the legal lay person. It is not just that lawyers possess a certain know-how, but that they are also privy to the values, concepts and understandings which inform that bank of knowledge (DuPlessis, et al. 2011).
The statutes of law do not operate in a vacuum or in a neutral environment, but are the products of, and in their turn help to reproduce, a specific legal context. People who are not versed in this legal context and are therefore not privy to the legal culture encapsulated within it, are doubly disadvantaged in the legal setting. They are alienat
download full paper ⤓
How should we consider the burden of further speech if we recognize that the legal rule might come as a surprise? As an empirical proposition, one might hazard the guess that building contractors and owners are more likely to be equal in their knowledge of the law than are sellers and buyers of goods. In each case, the suppliers are likely to have some knowledge of the law governing their transactions because that is their business. On the other side of the deal, buildings are usually expensive, and thus justify a substantial investment in the costs of the transaction; moreover, owners are customarily aided, in dealing with contractors, by architects, whose business this also is, and whose trade association supports them with legal information and form documents. By contrast, buyers of goods are often consumers making purchases small in comparison to buildings, and unaided by professionals. In allocating the burden of a rule which is defensible by contract, there is much to be said for placing the burden of the rule on the party more likely to find out about it, and therefore more likely to make it a matter of express contract -- known to both sides (Shepard, et al. 2005) if the rule is ill-suited to the particular case. While there may be no class of parties systematically more knowledgeable in construction cases, in sale-of-goods cases, sellers may well be. Perfect tender is, as already discussed, the seller-burdening doctrine.
Important to an understanding of lawyers and their corporate clients is knowing what attorneys did for corporations. An attorney's representation of a corporate client or employment as house counsel set out a relationship, but function portrays the lawyer's role in a clearer brush stroke. Lawyers created new business structures and developed new patterns of commerce. The advice of counsel went far beyond litigation to the essence of business by the close of the century. In the corporate world, lawyers performed many functions. Attorneys were creators of relationships, drafting corporate articles, contracts, and various other legal devices of business. They were facilitators of enterprise, buying and selling land as agents, negotiating contracts, and mediating differences of perspective. Some lawyers, like Jackson a. Graves, were bankers' lawyers who became bankers. They smoothed the financial transactions that greased the wheels of industry. The law was in books but lawyers on the street put the dynamics of law into action. An important benefit to clients was that lawyers were problem solvers. They sorted out the clutter of enterprise when needed. John D. Bicknell put it well in a letter to E.L. Mayberry of Hemet in 1896: "The affairs of the Bear Valley Company are in such an interminable complication and confusion that no attorney can safely undertake to advise without a thorough examination of the whole history of the transactions of this corporation" (Shepard, et al. 2005). Solving problems sometimes involved an attorney's immersion in the business of a corporation to bring business and legal sense to the client's transactions. When an attorney had an ongoing relationship with a company, knowledge of the business made providing legal and business advice easier. Lawyers also sorted out understandings, intent, and meaning in transactions for corporations. Henry W. O'Melveny's journal entry for Saturday, February 4, 1899, recorded one such session among lawyers (Shepard, et al. 2005). "Knowledge of the law is an essential business asset. Informed owners and managers can protect their businesses by ensuring compliance with legal requirements. They can capitalize on the planning function of law to ensure the future of their business by entering into contracts" (DuPlessis, et al. 2011).
What is the relationship between ethics and the law in business?
What is ethics? How does it compare to economics, the social science wherein commerce is studied? What scope does ethics have and what are its various subdivisions? What are some prominent systems and theories of ethics? What should ethics be understood to involve for ordinary citizens not specializing in moral philosophy; i.e., what is the common sense of ethics? What problems may face us in the relationship between ethics and law, and between ethics and public policy? According to DuPlessis, et al. business ethics are moral principles and values that seek to determine right and wrong in the business world (2011). A final point should be noted about ethics in general. However much one carefully reads articles or listens to lectures about ethics, morality, standards of right conduct, ultimately the matter is in the individual's own hand, unless he or she is a prisoner or slave or is severely incapacitated. The crucial feature of ethics is, after all, personal responsibility to do well at living a human life. That is not something that can be implanted or programmed into people, but must be a matter of the individual's own choice and will. Whether a person is indeed making the choice to act rightly and what this means is just what ethics and its various branches, including business ethics, ultimately attempt to clarify.
Ethics deals with the question of how persons should conduct themselves. Managerial ethics, then, is concerned with the question of how a manager (or an entrepreneur as manager) should conduct him or herself so that the organizational goals and objectives are achieved in a manner consistent with the principles of conduct that ethics dictates. There are two areas to which ethical principles can be applied to managerial conduct: first, to the objectives or goals chosen for the organization, and second, to the strategies, tactics, and policies employed for the attainment of these objectives or goals. Therefore, managerial ethics can be divided into two parts; management goals, and management strategies, tactics, and policies.
Business Goals
Within a free market society, it is generally thought that the primary goal of a business organization is the attainment of profit. Though businesses often consider other objectives (service to customers, employee needs and well-being, assistance to the needy) it cannot be denied that the attainment of profit is the overall and guiding objective of the business organization (DuPlessis, et al. 2011). Thus, the first question that managerial ethics should consider is whether or not… READ MORE
Quoted Instructions for "Business Knowledge of the Law" Assignment:
I have a term paper for canadain business law, there is a book required for this course and the paper should be written according to the book, the book is:
Title: Canadian Business and the Law
Author: DuPlessis, Enman, Gunz, O*****'Byrne
Edition: 4th
Year: 2011
Publisher: Nelson Education
and here is the assignment:
Choose any TWO of the topics below and write a two part paper based on them. Relate your topics to the text. Present a point of view on each topic based on your opinion supported by references to actual business situations and cases. Connect your two topics if appropriate. (and choose two topics and write 4 pages for each)
Available topics:
* Why is knowledge of the law considered to be a business asset?
* What is the relationship between ethics and the law in business?
* Does Canada have too much business law? Would we be better off with less regulation?
* What is the most important aspect of the legal system for business?
* What is the most problematic aspect of the Canadian legal system for business?
Note: there are couple of people who might sent you to write for the same the topic, please make sure that this paper has to be written differently than other papers.
How to Reference "Business Knowledge of the Law" Term Paper in a Bibliography
“Business Knowledge of the Law.” A1-TermPaper.com, 2011, https://www.a1-termpaper.com/topics/essay/business-knowledge-law/3278530. Accessed 3 Jul 2024.
Related Term Papers:
Business Plan for Organic Fertilizer Business Plan
![Paper Icon](https://www.a1-termpaper.com/images/term-paper-3.png)
Business Plan for Organic Fertilizer
Business Plan for an Organic Fertilizer Company
A company in this day and age should be environmentally aware and take steps to protect the planet.… read more
Business Plan 8 pages (3068 words) Sources: 8 Topic: Business / Corporations / E-commerce
Business Law What Is the Relationship Research Paper
![Paper Icon](https://www.a1-termpaper.com/images/term-paper-3.png)
Business Law
What is the relationship between ethics and the law in business?
An association is present between law and ethics. In a number of cases, law and ethics overlap… read more
Research Paper 10 pages (3128 words) Sources: 5 Topic: Business / Corporations / E-commerce
Business Continuity and Disaster Recovery BCDR Essay
![Paper Icon](https://www.a1-termpaper.com/images/term-paper-3.png)
Business Continuity and Disaster Recovery Plan
Disaster recovery plan focuses on the approaches to follow after a business faces a disaster. Most organizations adopt plans that are technology-oriented that aim… read more
Essay 7 pages (2036 words) Sources: 1+ Topic: Business / Corporations / E-commerce
Business School Admission Appeal Term Paper
![Paper Icon](https://www.a1-termpaper.com/images/term-paper-3.png)
Business School Admissions -- Appeal would like the business school to be aware of several compelling factors regarding my candidacy for the school that were not present in my original… read more
Term Paper 2 pages (797 words) Sources: 0 Topic: Business / Corporations / E-commerce
Law School? I Was Born in India Research Proposal
![Paper Icon](https://www.a1-termpaper.com/images/term-paper-3.png)
law school?
I was born in India although I moved to New York with my step-mother when I was twelve. My father is a high ranking police officer in India.… read more
Research Proposal 3 pages (950 words) Sources: 0 Topic: Law / Legal / Jurisprudence
Wed, Jul 3, 2024
If you don't see the paper you need, we will write it for you!
We can write a new, 100% unique paper!