Question: What Is The Legal Responsibility Or Obligation?

What are examples of social responsibility?

Some of the most common examples of CSR include:Reducing carbon footprints.Improving labor policies.Participating in fairtrade.Charitable giving.Volunteering in the community.Corporate policies that benefit the environment.Socially and environmentally conscious investments.Feb 25, 2019.

Who is responsible for ethical behavior?

Of course, managers are responsible for upholding ethical standards in their own actions and decisions. In addition to following the organization’s ethical code, managers may be obligated to follow a separate professional code of ethics, depending on their role, responsibilities, and training.

What are the types of an obligation?

Forms of Obligationabsolute obligation.contractual obligation.express obligation.moral obligation.penal obligation.

What are the 3 kinds of obligation?

Different Kinds of Obligation (Primary) (Section 1: Pure and Conditional…Section 1: Pure and Conditional Obligation. … Section 6: Obligation with a Penal Clause. … Section 2: Obligations with a Period. … Section 3: Alternative Obligation. … Section 4: Joint and Solidary Obligations. … Section 5: Divisible and Indivisible Obligation.

What are 4 main benefits of social responsibility?

The potential benefits of CSR to companies include:better brand recognition.positive business reputation.increased sales and customer loyalty.operational costs savings.better financial performance.greater ability to attract talent and retain staff.organisational growth.easier access to capital.

What are the 4 types of social responsibility?

Corporate social responsibility is traditionally broken into four categories: environmental, philanthropic, ethical, and economic responsibility.

What is the difference between ethical responsibility and legal responsibility?

Legal compliance refers to acting in accordance with the laws of a particular organization, company etc. while ethical responsibility is the choice to comply with the code of ethics of the particular organization, company etc. Thus, this is the main difference between legal compliance and ethical responsibility.

What are the 5 sources of obligation?

Terms in this set (6)Law. when they are imposed by law itself.Contracts. when they arise from the stipulation of the parties.Quasi-contracts. … Crimes or acts or omissions punished by law. … Quasi-delicts or torts. … Law.

Legal Responsibility Legal responsibilities are not only liable to the individuals in the society but also to the businesses in the society. … These rules and regulations are set for maintaining balance and the greater good of the society. A law-abiding enterprise is a socially responsible enterprise as well.

Legal Obligation means any requirement or duty created by statute or common law.

What is an ethical responsibility?

Definition: Ethical responsibility is the ability to recognize, interpret and act upon multiple principles and values according to the standards within a given field and/or context.

What are the elements of an obligation?

The elements of an obligation are: the parties, an object, the relationship by virtue of which one party is bound to perform for the other’s benefit, and, in the case of conventional obligations, a cause.

What is an example of an obligation?

The definition of an obligation is something that someone is required to do. An example of obligation is for a student to turn in his homework on time every day. A duty imposed legally or socially; thing that one is bound to do by contract, promise, moral responsibility, etc. … An obligating or being obligated.

What are the four elements of an obligation?

Every obligation has four essential elements: an active subject; a passive subject; the prestation; and the legal tie. The ACTIVE SUBJECT is the person who has the right or power to demand the performance or payment of the obligation. He is also called the obligee or the creditor.

Legal responsibility means specific duties imposed upon a person to care or provide for another including liability for personal obligations as granted through a Power of Attorney or Court order. … Legal responsibility may be held solely or may be divided or shared.

The definition of obligation in business law refers to contract laws that require a party to either do something or keep from doing something. One example is the obligation to repay a mortgage loan when you buy a house. … Performance requirements are another example of a legal obligation.

What is an example of ethical responsibility?

Examples of ethical behaviors in the workplace includes; obeying the company’s rules, effective communication, taking responsibility, accountability, professionalism, trust and mutual respect for your colleagues at work. These examples of ethical behaviors ensures maximum productivity output at work.

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