What is the relationship between business ethics and law?
business ethics and law are two interconnected terms that can exist independently of themselves in terms of business, yet they intersect in various vital aspects. The reason for this intersection can be attributed to the fact that ethical considerations are also legally enforceable. However, this is not always, because some ethical considerations in business are more like an unwritten code based on basic morality, which is assumed to be universal.
One example of a situation where business ethics and law in business contracts intersect. Morality or ethics dictates that if two or more parties agree with something, they should honor the agreement if there is no form of mitigating circumstances that make it appropriate to meet the agreement. Nevertheless, this is not always the case, because some parties of the agreements often find a way to pull out of the agreement. Fortunates, this type of law is not only ethically incorrect, but it is also a breach of contractual law andThe injured party may strive for compensation from the court of the relevant jurisdiction.
business ethics and law also intersect in the field of false representation, where someone falsely represents a significant fact for another party with the intention of getting a person to say goodbye to something valuable. An example is when a car dealer represents a used car for a used car, as if the car was brand new, which caused the customer to pay the price of a new car for used. Obviously, such an action is ethically condemnable and legal. This is just one of the diverse cases where business ethics and law have a point of confluence.
In some countries, there are strict laws that prohibit the minimum wage that the employer of work is legally entrusted to pay its employees. However, this does not prevent some employers from finding ways to circumvent this law. In this case, an unethical employer could employ someBased on their circumstances and use it as a means of paying them less than they deserve for the service they provide. An example would be a farmer who hires some illegal immigrants to work on the farm, and decides to use their illegal status as a means of paying much less than the minimum wage. By this employer, the employer would act illegally and unethically at the first hiring of the workers and then by their non -compliance.