A Code of Ethics Is a Formal Statement of Rules

question 63

Multiple Choice

A code of ethics is a formal statement of rules of conduct and

• A)legal restrictions.
• B)moral laws.
• C)ethical principles.
• D)core values.
• E)cultural values.

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Definitions:

Implied in Fact Contract

A contract formed by actions and circumstances that indicate an agreement has been made, even though no explicit contract exists.

Express Contract

An agreement where the terms are clearly stated by the parties, either verbally or in writing.

Uniform Commercial Code

A comprehensive set of laws governing all commercial transactions in the United States, intended to harmonize the law of sales and other commercial transactions across states.

Interstate

Refers to activities, agreements, or commerce that occur or are conducted between two or more states.