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Law and Contracts (608)
Credits: 3

   

Managers must have an understanding of the legal environment in which business enterprises must operate. This course stresses those aspects of the law that are essential to the decision making process and the operation of a business. The basis of constitutional law and the operation of the legal system explained. The difference between civil and criminal law and the methods to resolving disputes are covered. A major emphasis is placed on contract law both in private transactions employing the Uniform Commercial Code, and in federal, state and local contracts which are subject to the various statutes, regulations and procedures governing public agencies.

All aspects of business law are covered including sales contracts – product liability – employment law – the law of agency – business organizations – business agreements – property and consumer law. The growing problem of environmental law is considered. Since more and more enterprise are engaging in international business operations, the legal area is covered. In addition, the role of legal counsel and the legal behavior of the corporate manager is analyzed.

Subject covered include:

Introduction to Law, Legal Reasoning, and Business ethics Warranties, Product Liability and Consumer Law
Courts, Court Procedures and Alternative Dispute Resolution Agency Formation, Duties, Liability to Third Parties and Termination
Constitutional Authority to Regulate Business and Administrative Law Employment, Labor Law, and Employment Discrimination
Torts, Negligence and Strict Liability Personal Property, Bailments and Insurance
Intellectual Property, Criminal Law and Cyber Crimes Bankruptcy Law
Contracts Nature and Terminology Secured Transactions, Creditors Rights and Suretyship
Agreement Consideration, Capacity and Legality Environmental and Antitrust Law
Genuineness of Assent and Statute of Frauds Sole Proprietorships, Franchises, Law for Small Business
Third Party Rights, Performance and Discharge Partnerships, LLP's, LLC's, Special Business Forms
Breach of Contract, Remedies and E-Contracts Corporations Formation, Financing, Directors, Officers, Shareholders
Formation of Sales and Lease Contracts Corporations Mergers, Consolidation, Termination, Securities and Corporate Governance
Title, Risk and Insurable Interest Professional Liability, Accountability, and International Law
Performance Breach of Sales/Lease Contracts and Remedies  

Increase Your Understanding of

• The Legal Environment
• Contract Law
• Ethical Considerations
• Corporate Law

Improve Your Ability to

• Develop Good Business Arrangements
• Structure Contracts
• Prevent Business Disputes

Professors: TBD
Text: “Business Law - Text and Cases,” by Kenneth W. Clarkson, Roger LeRoy Miller, Frank B. Cross, Cengage

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