Please write in complete sentences. You should work on this assignment as you go through the assigned readings and chapters in your textbook. Avoid copying directly from the text. Your responses should be in your own words.
This assignment has been formatted in a Microsoft Word document for your convenience. Click the link U2 Review Assignment to download this assignment in Word. Insert your responses directly under each question.
1. What is the definition of business ethics?
2. What is meant by the term social responsibility?
3. Identify two purposes that a code of ethics might serve in a business.
4. How is a contract generally defined?
5. What are different classifications of contracts? (List and explain).
6. What are necessary elements of a legal contract? (List and explain).
7. How is a contract properly discharged?
8. Explain the term breach of contract.
9. What are two possible remedies for a breach of contract?
10. What is tort law? Why it is important for a business manager to have a basic understanding of tort law?