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How much of law practice is based on ethics rather than law?

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I noted yahoo lumps ethics and law together. Is justice ever dispensed solely on the principle of ethics (presumably in the absence of clear laws).
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Would a law firm rather hire a Paralegal with an Associates degree, or one that has a Bachelors degree?

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I graduated in January 2008 with an Associate’s degree for Pralegalism, and I am now taking classes for my Bachelor’s in Business Management. Would a law firm rather hire...
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