Solution Manual Dynamic Business Law, 6th Edition By Nancy Kubasek

Solution Manual
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Dynamic Business Law, 6th Edition
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By Nancy Kubasek
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,Chapter 1 - An Introduction to Dynamic Business Law
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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 |law
|1-3 |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.
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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‖
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 Have |states |gone |too |far |in |banning |smoking?

,  Whose | interests | are | state | legislatures | looking | out | for | in | banning
smoking?
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―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 Business | law | consists | of | the | enforceable | rules | of | conduct | that | govern
|law. commercial |relationships.
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1-2 |Relate |the Business |law |applies |to |the |six |functional |areas |of |business:
|functional |areas
 Corporate |management
|of|business |to |the

|relevant |areas |of
 Production |and |transportation
|business |law.  Marketing
 Research |and |development
 Accounting |and |finance
 Human |resource |management
1-3 |Recall |the  Providing |order
|purposes |of  Serving |as |an |alternative |to |fighting
|law.
 Facilitating |a |sense |that |change |is |possible
 Encouraging |social |justice
 Guaranteeing |personal |freedoms
 Serving |as |a |moral |guide
1-4 |Distinguish One |way |to |classify |law:
|among |types |of |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 |relationships
between |persons |and |between |persons |and |their |government.
|

Criminal |law | involves | incidents |in | which | someone | commits | an | act | against | the
public |as |a |unit.
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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 Sources |of |business |law |are:
|between |sources
1. Constitutions
|of|the |law.
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

, readings, |show |them |what |stare |decisis |looks |like |in |the |context |of |a |real |case.

4. Administrative |law
Administrative | law | is | the | collection | of | rules | and | decisions | made | by
administrative |agencies.
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5. Treaties
A | treaty | is | a | binding | agreement | between | two | states | or | international
organizations.
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6. | Executive |orders
An |executive |order |is |a |directive |that |comes |from |the |president | or |state
governor.
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1-6 |Identify |the Schools |of |jurisprudence |are |common |guides |to |legal |interpretation.
|various |schools
 Natural | law—certain | ethical | laws | and | principles | are | morally | right | and
|of|jurisprudence.
―above‖ |the |laws |devised |by |humans.
 Legal | Positivism—assumes | the | legitimate | political | authority
| deserves|our |obedience |when |it |issues |a |rule.


 Identification |with |the |Vulnerable—emphasis |on |fairness | and |looking
out |for |those |with |the |least |power.
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 Historical |School/Tradition—emphasis |on |the |use |of |stare |decisis.
 Legal |Realism—judges |consider |social |and |economic |conditions.
 Cost-benefit |Analysis—make |calculations |to |maximize |the |ratio |of
benefits |to |costs.
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Teaching | |tip: | |Consider | |using | |―The | |Case | |of | |the | |Speluncean | |Explorers | |(link
|below) |to |make |the |schools |of |jurisprudence |come |alive.


Global |and At |this |point |in |the |textbook, |students |should |merely |have |an |awareness |that
|Comparative |Law |globalization |has |affected |the |scope |of |business |law. |Consequently, | we

|highlight |the |definitions |to |the |following |key |terms |that |will | come |up |later |in

|the |book:



 Trade, | i.e. | the | exchange | of | goods | or | services, | on | a | global | scale | has
| led |
to |the |creation |of |trade |agreements |that |serve |as |de |facto |rules
|governing|the |global |business |environment.


 Comparative |law—the |field |of |law |that |studies |and |compares |laws |in
|different |countries.


Appendix |on |Critical Critical |thinking |includes |the |application |of |evaluative |standards |to |assess |the
|Thinking |and |quality |or |the |reasoning |being |offered |to |support |the |conclusion. |Critical

|Business |thinkers |will |follow |this |pattern |of |careful |thinking |when |they |read | an

|argument:


1. Find |the |facts.
2. Look |for |the |issue.
3. Identify |the |judge‘s |reasons |and |conclusion.
4. Locate |in |the |decision |the |rules |of |law |that |govern |the |judge‘s |reasoning.
5. Apply |critical |thinking |to |the |reasoning. |Evaluate |the |reasoning.
 Look |for |potential |ambiguity.
 Consider |the |strength |of |analogies.