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Prompt: After reading the assigned scripture, discuss the biblical principles you see exemplified in the U.S. Constitution and how these principles can be applied to business. Be specific, using examples to illustrate your points. Requirements: 250 words minimum initial post

Read Proverbs 21:15, Isaiah 45:5, and Genesis 1:1-22

Prompt: After reading the assigned scripture, discuss the biblical principles you see exemplified in the U.S. Constitution and how these principles can be applied to business. Be specific, using exa
MBA/MSL 646 The Legal Environment of Business Belhaven University Unit 2 Supplemental Slides Introduction to Law and Business; Business and the Constitution Introduction  Law (as defined by Black’s Law Dictionary) is a body of rules of action or conduct prescribed by the controlling authority, and having legal binding force.  Rules enacted by a government that governs individuals and relationships in society Introduction, cont.  What is the difference between public and private law  Public law is enacted by some authorized government body  Example – federal securities laws  Private law is enacted by private individuals  Example – a lease agreement; employment agreement Classifications of Law  Criminal Laws are wrongs against society  Civil Laws are wrongs against individuals  Substantive Laws give rights and responsibilities (elements that make up a cause of action) Classifications of Law, etc.  Procedural Laws are the means (rules) of enforcing a substantive rights (how one gets a cause of action adjudicated)  Common Law  Began in England in 1066 A.D. and continues today  Non -statutory  Exists in court decisions  Follows case precedent through the doctrine of stare decisis (meaning to “let the decision stand” ) Classifications of Law, etc.  Statutory Law  Passed by governmental body (legislature)  Also known as codified laws  Law v. Equity  In common law England, remedies were separated into legal (monetary) and equitable (injunction and specific performance) remedies  Courts are authorized to award both types of remedies today Purpose and Characteristics  Purpose of law  Keeping order  Influencing conduct  Honoring expectations  Promoting equality  Characteristics  Flexibility  Consistency  Pervasiveness Sources of Laws  Constitutional law  Exists on both the state and federal levels  Statutory law  Exists on both the state and federal levels  Local laws – ordinances  County and city statutes  Administrative law  Enacted though administrative agencies  Case law and common law International laws  International Organizations (U.N.)  Act of State Doctrine  Expropriation  Confiscation or nationalization: taking of private property by a government  Trade Laws  Tariffs  Treaties  Uniform International Laws  Contracts for the International Sale of Goods (CISG)  Much like Article 2 under the UCC Constitution  Article I – Legislative Branch  Congress  House of Representatives  Senate  Article II – Executive Branch  President  Vice President  Article III – Judicial Branch  Creates U.S. Supreme Court  Authorizes Congress to create other courts Constitution, cont.  Article IV – State Interrelationships  Article V – Procedures for Amendments  Article VI – Supremacy Clause  Article VII – State Ratification of the Constitution  Bill of Rights  First – Freedom of speech, freedom of religion  Fourth – Privacy  Fifth – Due process; Self -incrimination  Sixth – Jury trial  Fourteenth Amendment – Due process; Equal Protection Constitution and Judicial R eview  Creates a System of Checks and Balances  Each branch has some power check over the other branches to keep any one branch from becoming too powerful (shows that the Founding Fathers distrusted a too centralized power)  What is the role of Judicial Review?  Determines the rights afforded by the US Constitution  Determines the scope of rights  Plays role in checks and balances system  Self granted under Malbury v. Madison  Can pass judgment on the other branches as to the constitutionality of an action Commerce Clause  The Commerce Clause – Article I, Section *  Standards for Federal Regulation of Interstate Commerce  Historical application  Initially, it had a very narrow interpretation  Authority of the commerce clause expanded over the years through case law and interpretation Commerce Clause, cont.  Standards for State regulation of commerce  If Congress has regulated, there is an overriding concern about the Supremacy Clause  If Congress has not acted, there is a benefit/burden analysis  Balance police power (this is a state’s interest) with the burden on interstate commerce  States cannot give in -state businesses an advantage over out -of – state businesses  Congress has the power to regulate international trade  Congress has the power to tax  Taxes must be assessed consistently Constitution and Preemption  Preemption  Article VI exists to determine which laws control in the event both state and federal governments regulate the same thing  If a state law directly conflicts with a federal law, then the federal wins  Questions considered to determine preemption  What does the legislative history provide?  What is the level of detail in the federal legislation?  What benefit flows from the federal regulation?  What is the nature of the conflict? Bill of Rights  First Amendment  Provides protection for commercial speech – speech used to further economic interests  Advertising can be regulated if a substantial governmental interest must be furthered and the regulation is the least restrictive means of furthering that interest  Corporations have the right to political speech – Citizens United v. Federal Election Commission (2010) Bill of Rights, cont.  Eminent domain is the right of the government to take private property for public purpose for just compensation  Purposes include  Highways  Schools  Urban development  Economic development  Historical preservation  Due process  Applies to criminal, civil, and administrative proceedings  Example – Summons and complain provide notice to defendants  Includes right of notice and right to be heard  Complete reading assignments  Complete writing assignments  Answer discussion questions  Complete unit quiz 18 What’s Next ? Jennings , M. (2017 ). Business; It’s Legal, Ethical, and Global Environment . (11 th ed .). South -Western Cengage Learning . The Holy Bible 19 References