What is the definition of business ethics? What is meant by the term social responsibility?

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.

Chapter 10

4. How is a contract generally defined?
5. What are the different classifications of contracts? (List and explain).
6. What are necessary elements of a legal contract? (List and explain).

Chapter 11

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?