Issues Related to Fairness and Honesty May Arise Because Business

question 33

Multiple Choice

Issues related to fairness and honesty may arise because business is sometimes regarded as a

• A)legal case,where everything must be done to the letter of the law.
• B)contest,with the most ethical firm "winning."
• C)guerilla war where anything goes in the fight for consumers' dollars.
• D)game governed by its own rules rather than those of society.
• E)game governed by the rules of society.

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Definitions:

Financial Loss

The negative impact experienced when expenses exceed revenues, or when assets lose value, affecting an individual's or entity's overall financial health.

Volenti Non Fit Injuria

A defence in torts based on the plaintiff’s voluntarily assuming a clear legal risk.

Physical Risk

Refers to the likelihood of bodily harm or injury in a given environment or activity.

Legal Risk

The potential for losses or damages resulting from legal proceedings, actions, or changes in law.