PBMF Ch. 3 - Ethics

What's considered a breach of contract?

• Failure of one party to do what is required of them under the terms of the contract

• Failure of one party to list what is required of them in the contract document

This element refers to someones mental ability to enter into an contract.

• consideration
• legality
• capacity
• genuine agreement

A proposal to provide a good or service

• contract

• ethics

• morals

• offer

An individual's ideas of what is right and wrong

• morals

• consideration

• lease

• offer

Something of value promised in return for goods or services

• lease

• consideration

• ethics

• morals

Behaving with sensitivity to social, environmental, and economic issues

• contract

• offer

• morals

• social responsibility

A legally binding agreement between two or more people or businesses

• consideration

• ethics

• contract

• offer

Which of the following is NOT a required element of a contract?

• offer

• breach

• acceptance

• consideration

Businesses are required by federal law to give all workers

• equal employment and advancement opportunities

• equal pay

• annual pay raises

• collective bargaining

Businesses are expected to demonstrate ethical behavior

• only when required by government regulation

• even when government regulations do not apply

• only when required by contract

• except when it conflicts with corporate culture