Reference no: EM132836022

Summarize the role of the legal system in governing and shaping the climate for business

1. You own a moving company. One of your workers let go of a chair while carrying it up a staircase. Unfortunately, one of the building's tenants was walking up the stairs at the time and was seriously hurt by the dropped chai. Explain the legal consequences of this incident and the possible impact it could have on your business, both legally and financially. Now, let's say that your worker was going up the stairs with a chair when the tenant yelled at him for blocking her way. In anger, your worker threw the chair at her and caused serious harm. What actions can be taken against your employee? Explain your liability for this person's behavior considering that he is an employee of your company.

2. Government regulation of business changes over time, often in response to public sentiment, the political environment, and the economy. At times the pendulum swings toward more regulation, and other times it favors deregulation. Regardless of the case, businesses must work within the legal and regulatory environment as it applies to their business or industry. Discuss the major challenges facing business in today's regulatory setting, giving specific examples of instances where regulation helps and hurts business.