Law 4 Assignment Example | Topics and Well Written Essays - 500 words

Law 4 - Assignment good exampleIt governs how a business concern is run, and if any violations ar made, the owners or directors of the business is deemed level-headedly liable. There are legal punishments in the form of corporate revocations and fines for violations (Halbert & Ingulli, 1990). The two name business law and ethics are non similar though they are linked to the business environment. The public scrutinizes a business that is not racecourse ethically, and there is a normally tough analysis of the legitimacy of their actions. Halbert and Ingulli (1990) state that although business laws ensure that a company is run in a legal manner, the ethics of a business regularly assure whether the business is surpassing the limits set upon by law if not breaking them unintentionally. For example if a business that deals in the mining of fluorine dumps its wastes in the rivers the action may be legal. However, the action may be wrong if the activity is done wrongly.According t o Armentano (1996), antitrust and monopoly are other business terms that go hand in hand with each other. Antitrust law is a set of rules that annihilate the unfair business practices. Monopoly is the business practice that involves a few businesses being the suppliers of products in a abundant market. The antitrust laws are set up to promote rival in the market. Certain business practices are deemed illegal if they impair business practices and affect the consumers in any way. Armentano (1996) affirmed that, illegal practices are viewed to be unethical in the business environment as they lead to market and business failure. Practices that lead to unethical activities in the business world are considered illegal according to the antitrust law. Monopoly is the act of a item-by-item entity controlling the market price of a certain commodity (Armentano, 1996). Monopoly is brought about by lack of competition in the market one or few companies dominate the business industry. The few