SOLUTION MANUAL Dynamic Business Law: The Essentials, 5th Edition Kubasek, Browne, All Chapters 1-25), DR ERIC

SOLUTION MANUAL Dynamic Business Law: The Essentials, 5th Edition Kubasek, Browne, All Chapters 1-25), DR ERIC DR ERIC TABLE OF CONTENTS PART 1: The Legal Environment of Business C h. 1 An Introduction to the Fundamentals of Dynamic Business Law Ch. 2 Business Ethics and Social Responsibility Ch. 3 The U.S. Legal System and Alternative Dispute Resolution Ch. 4 Administrative Law Ch. 5 Constitutional Law Ch. 6 Criminal Law and Business Ch. 7 Tort Law Ch. 8 Real, Personal, and Intellectual Property PART 2: Contract Law Ch. 9 Introduction to Contracts and Agreement Ch. 10 Consideration Ch. 11 Capacity and Legality Ch. 12 Reality of Assent Ch. 13 Contracts in Writing and Third-Party Contracts Ch. 14 Discharge and Remedies Part 3: Domestic and International Sales Law Ch. 15 Formation and Performance of Sales and Lease Contracts Ch. 16 Sales and Lease Contracts: Performance, Warranties, and Remedies PART 4: Negotiable Instruments and Banking Ch. 17 Negotiable Instruments: Negotiability and Transferability Ch. 18 Holder in Due Course, Liability, and Defenses PART 5: Creditors' Rights and Bankruptcy DR ERIC DR ERIC Ch. 19 Secured Transactions and Bankruptcy PART 6: Agency Ch. 20 Agency and Liability to Third Parties PART 7: Business Organizations Ch. 21 Forms of Business Organization Ch. 22 Corporations: Formation and Organization Ch. 23 Securities Regulation PART 8: Government Regulation Ch. 24 Employment and Discrimination Law Ch. 25 Consumer Law DR ERIC DR ERIC Chapter 1 - An Introduction to Dynamic Business Law CHAPTER OVERVIEW Chapter One lays the foundation for the textbook. Make sure you look on the publisher‘s web site for information about how business law intersects with the six functional areas of business. The authors encourage students to ―connect to the core,‖ and remember the ways in which law intersects with other areas of study, including corporate management, production and transportation, marketing, research and development, accounting and finance, and human resource management. This manual supports the ―connecting to the core‖ theme by giving ideas for assignments that encourage students to integrate their business law knowledge with knowledge they are acquiring from their other business classes. The manual also encourages professors to improve their teaching skills. Finally, the manual suggests teaching ideas for both beginning and experienced teachers. LEARNING OBJECTIVES After reading this chapter, students will be able to: 1-1 Define business law. 1-2 Relate the functional areas of business to the relevant areas of business law1- 3 Recall the purposes of law. 1-4 Distinguish among types of law. 1-5 Differentiate between sources of the law. 1-6 Identify the various schools of jurisprudence. LECTURE NOTES WITH DEFINITIONS In the news… Teaching tip: For each chapter, consider asking students to relate current news items to material from the chapter. In addition to ideas students come up with on their own, consider weaving in news stories provided by the McGraw Hill. For Chapter One, McGraw Hill offers the following stories: ―Smoking Ban: Tobacco Tyrants: Gone Too Far? Many States Are Putting Stronger Restrictions on Where You Can Smoke‖  Have states gone too far in banning smoking? DR ERIC DR ERIC  Whose interests are state legislatures looking out for in banning smoking? ―College Officer Dealings With Lenders Scrutinized.‖  Should regulators take a more careful look at college officers?  Why created changes in the ways college officers interact with lenders? 1-1 Define business law. Business law consists of the enforceable rules of conduct that govern commercial relationships. 1-2 Relate the functional areas of business to the relevant areas of business law. Business law applies to the six functional areas of business:  Corporate management  Production and transportation  Marketing  Research and development  Accounting and finance  Human resource management 1-3 Recall the purposes of law.  Providing order  Serving as an alternative to fighting  Facilitating a sense that change is possible  Encouraging social justice  Guaranteeing personal freedoms  Serving as a moral guide 1-4 Distinguish among types of law. One way to classify law: Private law involves disputes between private individuals or groups. Public law involves disputes between private individuals or groups and their government. A second way to classify law: Civil law involves the rights and responsibilities involved in relationshipsbetween persons and between persons and their government. Criminal law involves incidents in which someone commits an act against the public as a unit. Teaching tip: Ask students to give an example of a fact situation that led to both criminal and civil lawsuits, e.g., the O.J. Simpson trials. 1-5 Differentiate between sources of the law. Sources of business law are: 1. Constitutions Constitutional law refers to the general limits and powers of governments as stated in their written constitutions. 2. Statutes or legislative actions 3. Cases Case law (or common law) is the collection of legal interpretations made by judges. Stare decisis means courts are relying on precedent. Teaching tip: The first time your students encounter an appellate case in the