What is the difference between ethics and law? Can there be behaviors that are ethical but not necessarily legal? Give an example.

Ethics provides us with guides on what is the right thing to do in all aspects of life, while the law generally provides more specific rules so that societies and their institutions can be maintained.

Explanation:

Ethics and the law are not identical. Typically, the law tells us what we are prohibited from doing and what we are required to do. It is said that the law sets minimum standards of behaviour while ethics sets maximum standards.

This seems to be changing as the law tries to impose broader obligations in relation to business and corporate activity, such as with directors’ duties and best interest obligations for financial advice.

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