Thus, the plaintiff must make a choice, either the plaintiff can sue for law or sue for equity, but the plaintiff can not sue for both in the same lawsuit. The common law is judge made law based upon cases of first impression that establish the precedence. Precedence binds lower courts of the same jurisdiction but only guides by analogy courts in other jurisdiction. In the U.S.A. the legislatures tend to be reactive rather than proactive. T F Especially with respect to business transactions, in the U.S.A. the standard of ethical behavior is efficiency.
Efficiency requires profit maximization and cost minimization.
The individual's pursuit of self-interest can be trusted to provide profit maximization. Competition is necessary to assure cost minimization. T F A human is natural person and a legal person. In contrast, a corporation only is a legal person. Thus, a corporation can not have any rights that only belong to citizens.