What is the "social contract" that exists between a business and the society in which it operates?

What will be an ideal response?

Answer: A social contract is an underlying agreement between business and society on basic duties and responsibilities business must carry out to retain public support. It may be reflected in laws and regulations. It defines the broad duties that business must perform to retain society's support. It is partly expressed in law, but it also resides in social values.

Business

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Should a former employer give a glowing statement about a candidate and the new employer later learn of misconduct on the part of the employee during his or her previous employment, the new employer may sue the former for:

A) lack of validity. B) misrepresentation. C) defamation. D) negligent omission.

Business

Another name for a cul-de-sac is:

a. dead end street b. key lot c. interior lot d. flag lot

Business