What is the difference between law and ethics?

There exists a fine line of difference between law and ethics. The former, is the systematic set of universally accepted rules and regulation created by appropriate authority, i.e. government while the latter are the principles that guide a person or society, created on the basis of what is good or bad. read more

A: Ethics and law differ in that ethics are social guidelines based on moral principles and values while laws are rules and regulations that have specific penalties and consequences when violated. Ethics do not have punishments, fines or associated penalties when people fail to abide by them while laws do. read more

The difference between law and ethics is very useful to know as both have a significant effect on our day to day life. Law and ethics are two important terms associated with the science of management. read more