Dynamic Business Law, 6th Edition TEST BANK By Nancy Kubasek, ISBN: 9781260733976, All 52 Chapters Covered, Verified Latest Edition

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

,Chapter 1 - An Introduction to Dynamic Business Law
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CHAPTER OVERVIEW 2D




Chapter One lays the foundation for the textbook. Make sure you look on the publisher‘s web site for informa
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tion about how business law intersects with the six functional areas of business. The authors encourage studen
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ts to ―connect to the core,‖ and remember the ways in which law intersects with other areas of study, includin
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g corporate management, production and transportation, marketing, research and development, accounting an
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d finance, and human resource management.
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This manual supports the ―connecting to the core‖ theme by giving ideas for assignments that encourage stu
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dents to integrate their business law knowledge with knowledge they are acquiring from their other business cl
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asses. The manual also encourages professors to improve their teaching skills. Finally, the manual suggests teac
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hing ideas for both beginning and experienced teachers.
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LEARNING OBJECTIVES 2D




After reading this chapter, students will be able to:
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1-1 Define business law. 2D 2D




1-2 Relate the functional areas of business to the relevant areas of business law1-
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3 Recall the purposes of law.
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1-4 Distinguish among types of law. 2D 2D 2D 2D




1-5 Differentiate between sources of the law. 2D 2D 2D 2D 2D




1-6 Identify the various schools of jurisprudence.2D 2D 2D 2D 2D




LECTURE NOTES WITH DEFINITIONS 2D 2D 2D




In the news…
2D 2D Teaching tip: For each chapter, consider asking students to relate current newsite
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ms to material from the chapter.
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In addition to ideas students come up with on their own, consider weaving inn
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ews stories provided by the McGraw Hill.
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For Chapter One, McGraw Hill offers the following stories:
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―Smoking Ban: Tobacco Tyrants: Gone Too Far? Many States Are PuttingStronger
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Restrictions on Where You Can Smoke‖
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 Have states gone too far in banning smoking? 2D 2D 2D 2D 2D 2D 2D

,  Whose interests are state legislatures looking out for in banningsmok
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ing?

―College Officer Dealings With Lenders Scrutinized.‖
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 Should regulators take a more careful look at college officers? 2D 2D 2D 2D 2D 2D 2D 2D 2D




 Why created changes in the ways college officers interact with lenders?
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1- Business law consists of the enforceable rules of conduct that governcom
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1 Define businesslaw.
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1- Business law applies to the six functional areas of business:
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2 Relate the functio
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 Corporate management 2D



nal areas ofbusines
 Production and transportation
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s to the relevant are
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as of business law.
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 Marketing
 Research and development 2D 2D




 Accounting and finance 2D 2D




 Human resource management 2D 2D




1-  Providing order 2D




3 Recall the purp
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 Serving as an alternative to fighting 2D 2D 2D 2D 2D




oses of law.
 Facilitating a sense that change is possible
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 Encouraging social justice 2D 2D




 Guaranteeing personal freedoms 2D 2D




 Serving as a moral guide 2D 2D 2D 2D




1- One way to classify law:
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4 Distinguish among
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Private law involves disputes between private individuals or groups.
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types of law.
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Public law involves disputes between private individuals or groups and theirg
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overnment.

A second way to classify law:
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Civil law involves the rights and responsibilities involved in relationshipsbetween p
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ersons and between persons and their government.
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Criminal law involves incidents in which someone commits an act against thepub
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lic as a unit.
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Teaching tip: Ask students to give an example of a fact situation that led to
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both criminal and civil lawsuits, e.g., the O.J. Simpson trials.
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1- Sources of business law are: 2D 2D 2D 2D




5 Differentiate bet
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1. Constitutions
ween sources ofthe 2D 2D 2D 2D

Constitutional law refers to the general limits and powers of governments asst
law.
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ated in their written constitutions.
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2. Statutes or legislative actions 2D 2D 2D




3. Cases
Case law (or common law) is the collection of legal interpretations made byj
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udges.
Stare decisis means courts are relying on precedent.
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Teaching tip: The first time your students encounter an appellate case in the
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, readings, show them what stare decisis looks like in the context of a real case.
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4. Administrative law 2D




Administrative law is the collection of rules and decisions made byadmi 2 D 2 D 2 D 2 D 2 D 2 D 2 D 2 D 2 D 2 D 2D




nistrative agencies. 2D




5. Treaties
A treaty is a binding agreement between two states or internationalorga
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nizations.
6. Executive orders
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An executive order is a directive that comes from the president or stategovernor.
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1- Schools of jurisprudence are common guides to legal interpretation.
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6 Identify the vario
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 Natural law—certain ethical laws and principles are morally right and 2 D 2 D 2 D 2 D 2 D 2 D 2 D 2 D 2 D



us schools ofjurisp
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―above‖ the laws devised by humans. 2D 2D 2D 2D 2D



rudence.
 Legal Positivism— 2 D




assumes the legitimate political authority deservesour obedience when it 2 D 2 D 2 D 2 D 2 D 2D 2D 2D 2D 2




issues a rule. D 2D 2D




 Identification with the Vulnerable— 2D 2D 2D




emphasis on fairness and lookingout for those with the least power. 2D 2D 2D 2D 2D 2D 2D 2D 2D 2D 2D




 Historical School/Tradition—emphasis on the use of stare decisis. 2D 2D 2D 2D 2D 2D 2D




 Legal Realism—judges consider social and economic conditions.2D 2D 2D 2D 2D 2D




 Cost-benefit Analysis— 2D




make calculations to maximize the ratio ofbenefits to costs.
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Teaching tip: Consider using ―The Case of the Speluncean Explorers (link below
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) to make the schools of jurisprudence come alive.
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Global and Comp
2D 2D At this point in the textbook, students should merely have an awareness that global
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arative Law2D ization has affected the scope of business law. Consequently, we highlight the defi
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nitions to the following key terms that will come up later in the book:
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 Trade, i.e. the exchange of goods or services, on a global scale has ledt
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o the creation of trade agreements that serve as de facto rules governingthe
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global business environment. 2D 2D




 Comparative law— 2D




the field of law that studies and compares laws in different countries.
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Appendix on Critical 2D 2D 2D Critical thinking includes the application of evaluative standards to assess the qualit
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Thinking and Busines
2D 2D y or the reasoning being offered to support the conclusion. Critical thinkers will fol
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s low this pattern of careful thinking when they read an argument:
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1. Find the facts. 2D 2D




2. Look for the issue. 2D 2D 2D




3. Identify the judge‘s reasons and conclusion. 2D 2D 2D 2D 2D




4. Locate in the decision the rules of law that govern the judge‘s reasoning.
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5. Apply critical thinking to the reasoning. Evaluate the reasoning.
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 Look for potential ambiguity. 2D 2D 2D




 Consider the strength of analogies. 2D 2D 2D 2D