Chris W. Poe
1. What is one way the U.S. legal systems affects U.S. businesses?
Answer: There are several ways the legal system can affect businesses but the one way the U.S. legal system affect U. S. businesses are the antitrust law which changed the way businesses operate. This law controlled some a banned others in the way businesses compete/operate. This law would hinder business from competing in the way they desire to. This law was passed to enable every organization the same opportunity to gain access to the free enterprise system (Jennings, 2006).
1.a. How do specific aspects of the U.S. legal system help further commerce?
Answer: The first part of question #1.a.: The commerce is furthered by the international business and the creative business deals are accomplished to increase profits around the legal system. When combined with certain other aspects of the U.S. legal system (for example, class action litigation, high legal costs, joint and several liability, and contingency fee structures), the potential for a significant award—even if it is perceived as unlikely and unmerited—can create a strong incentive to settle an actual or threatened case. This incentive exists even though it is recognized that actual punitive damages awards are unusual and that, even when punitive damages are awarded by a jury, they can subsequently be reduced by a court decision (Diamond, Levine, and Madden, 2008).
1.b. What would happen if those characteristics were not present?
Answer: The first part of question #1.b.: The legal system would become more arbitrary, and people as a whole would have less faith in the ability to produce just outcomes." The area of tax law would be much less influential if the characteristics were not present (Diamond, Levine, and Madden, 2008).
2. Reflect on characteristics of the traditional litigation system, such as... [continues]
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