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

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

,Chapter 1 - An Introduction to Dynamic Business Law
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CHAPTERjnOVERVIEW
ChapterjnOnejnlaysjnthejnfoundationjnforjnthejntextbook.jnMakejnsurejnyoujnlookjnonjnthejnpublisher‘sjnwebjnsitejnforjn
informationjnaboutjnhowjnbusinessjnlawjnintersectsjnwithjnthejnsixjnfunctionaljnareasjnofjnbusiness.jnThejnauthorsjnen
couragejnstudentsjntojn―connectjntojnthejncore,‖jnandjnrememberjnthejnwaysjninjnwhichjnlawjnintersectsjnwithjnotherjn
areasjnofjnstudy,jnincludingjncorporatejnmanagement,jnproductionjnandjntransportation,jnmarketing,jnresearchjnandjn
development,jnaccountingjnandjnfinance,jnandjnhumanjnresourcejnmanagement.

Thisjn manualjn supportsjn thejn ―connectingjn tojn thejn core‖jn themejn byjn givingjn ideasjn forjn assignmentsjn thatjn encou
ragejnstudentsjntojnintegratejntheirjnbusinessjnlawjnknowledgejnwithjnknowledgejntheyjnarejnacquiringjnfromjntheirjnot
herjnbusinessjnclasses.jnThejnmanualjnalsojnencouragesjnprofessorsjntojnimprovejntheirjnteachingjnskills.jnFinally,jnthej
nmanualjnsuggestsjnteachingjnideasjnforjnbothjnbeginningjnandjnexperiencedjnteachers.




LEARNINGjnOBJECTIVES
Afterjnreadingjnthisjnchapter,jnstudentsjnwilljnbejnablejnto:

1-1 Definejnbusinessjnlaw.
1-2 Relatejnthejnfunctionaljnareasjnofjnbusinessjntojnthejnrelevantjnareasjnofjnbusinessjnl
awjn1-3jnRecalljnthejnpurposesjnofjnlaw.
1-4 Distinguishjnamongjntypesjnofjnlaw.
1-5 Differentiatejnbetweenjnsourcesjnofjnthejnlaw.
1-6 Identifyjnthejnvariousjnschoolsjnofjnjurisprudence.

LECTUREjnNOTESjnWITHjnDEFINITIONS
Injnthejnnews… Teachingjntip:jnForjneachjnchapter,jnconsiderjnaskingjnstudentsjntojnrelatejncurrentjnne
wsjnitemsjntojnmaterialjnfromjnthejnchapter.

Inj n additionj n toj n ideasj n studentsj n comej n upj n withj n onj n theirj n own,j n considerj n weavin
gj n injnnewsjnstoriesjnprovidedjnbyjnthejnMcGrawjnHill.

ForjnChapterjnOne,jnMcGrawjnHilljnoffersjnthejnfollowingjnstories:

―SmokingjnBan:jnTobaccojnTyrants:jnGonejnToojnFar?jnManyjnStatesjnArejnPuttingjnStro
ngerjnRestrictionsjnonjnWherejnYoujnCanjnSmoke‖
 Havejnstatesjngonejntoojnfarjninjnbanningjnsmoking?

,  Whosej n interestsj n arej n statej n legislaturesj n lookingj n outj n forj n inj n banningjns
moking?

―CollegejnOfficerjnDealingsjnWithjnLendersjnScrutinized.‖
 Shouldjnregulatorsjntakejnajnmorejncarefuljnlookjnatjncollegejnofficers?
 Whyjncreatedjnchangesjninjnthejnwaysjncollegejnofficersjninteractjnwithjnlenders?
1- Businessj n lawj n consistsj n ofj n thej n enforceablej n rulesj n ofj n conductj n thatj n governjn
1j n Definej n businessjnlaw commercialjnrelationships.
.
1- Businessjnlawjnappliesjntojnthejnsixjnfunctionaljnareasjnofjnbusiness:
2jnRelatejnthejnfunct  Corporatejnmanagement
ionaljnareasjnofjnbusi
nessjntojnthejnreleva  Productionjnandjntransportation
ntjnareasjnofjnbusine  Marketing
ssjnlaw.  Researchjnandjndevelopment
 Accountingjnandjnfinance
 Humanjnresourcejnmanagement
1-  Providingjnorder
3jnRecalljnthejnpur  Servingjnasjnanjnalternativejntojnfighting
posesjnofjnlaw.
 Facilitatingjnajnsensejnthatjnchangejnisjnpossible
 Encouragingjnsocialjnjustice
 Guaranteeingjnpersonaljnfreedoms
 Servingjnasjnajnmoraljnguide
1- Onejnwayjntojnclassifyjnlaw:
4jnDistinguishjnamon Privatejnlawjninvolvesjndisputesjnbetweenjnprivatejnindividualsjnorjngroups.
gjntypesjnofjnlaw. Publicj n lawj n involvesj n disputesj n betweenj n privatej n individualsj n orj n groupsj n andj n t
heirjngovernment.

Ajnsecondjnwayjntojnclassifyjnlaw:
Civiljnlawjninvolvesjnthejnrightsjnandjnresponsibilitiesjninvolvedjninjnrelationshipsjnbetwe
enjnpersonsjnandjnbetweenjnpersonsjnandjntheirjngovernment.
Criminaljn lawjn involvesjn incidentsjninjn whichjn someonejn commitsjn anjn actjn againstjn t
hejnpublicjnasjnajnunit.

Teachingj n tip:j n Askj n studentsj n toj n givej n anj n examplej n ofj n aj n factj n situationj n thatj n
ledj n tojnbothjncriminaljnandjnciviljnlawsuits,jne.g.,jnthejnO.J.jnSimpsonjntrials.
1- Sourcesjnofjnbusinessjnlawjnare:
5jnDifferentiatejnbet 1. Constitutions
weenjnsourcesjnofjnth Constitutionalj n lawj n refersj n toj n thej n generalj n limitsj n andj n powersj n ofj n governments
ejnlaw. j n asjnstatedjninjntheirjnwrittenjnconstitutions.

2. Statutesjnorjnlegislativejnactions
3. Cases
Casej n lawj n (orj n commonj n law)j n isj n thej n collectionj n ofj n legalj n interpretationsj n mad
ej n byjnjudges.
Starejndecisisjnmeansjncourtsjnarejnrelyingjnonjnprecedent.

Teachingj n tip:j n Thej n firstj n timej n yourj n studentsj n encounterj n anj n appellatej n casej n i
nj n the

, readings,jnshowjnthemjnwhatjnstarejndecisisjnlooksjnlikejninjnthejncontextjnofjnajnrealjncase.

4. Administrativejnlaw
Administrativej n lawj n isj n thej n collectionj n ofj n rulesj n andj n decisionsj n madej n byjn
administrativejnagencies.
5. Treaties
Aj n treatyj n isj n aj n bindingj n agreementj n betweenj n twoj n statesj n orj n internationaljn
organizations.
6.j n Executivejnorders
Anjnexecutivejnorderjnisjnajndirectivejnthatjncomesjnfromjnthejnpresidentjn orjnstatejngove
rnor.
1- Schoolsjnofjnjurisprudencejnarejncommonjnguidesjntojnlegaljninterpretation.
6jnIdentifyjnthejnvar  Naturalj n law—
iousjnschoolsjnofjnjur certainj n ethicalj n lawsj n andj n principlesj n arejn morallyjn rightj n and
isprudence. ―above‖jnthejnlawsjndevisedjnbyjnhumans.
 Legalj n Positivism—
assumesj n thej n legitimatej n politicalj n authorityj n deservesjnourjnobediencejnwhe
njnitjnissuesjnajnrule.
 IdentificationjnwithjnthejnVulnerable—
emphasisjnonjnfairnessjn andjnlookingjnoutjnforjnthosejnwithjnthejnleastjnpower.
 HistoricaljnSchool/Tradition—emphasisjnonjnthejnusejnofjnstarejndecisis.
 LegaljnRealism—judgesjnconsiderjnsocialjnandjneconomicjnconditions.
 Cost-benefitjnAnalysis—
makejncalculationsjntojnmaximizejnthejnratiojnofjnbenefitsjntojncosts.

Teachingjnjntip:jnjnConsiderjnjnusingjnjn―ThejnjnCasejnjnofjnjnthejnjnSpelunceanjnjnExplorersjnjn(li
nkjnbelow)jntojnmakejnthejnschoolsjnofjnjurisprudencejncomejnalive.
GlobaljnandjnCom Atjnthisjnpointjninjnthejntextbook,jnstudentsjnshouldjnmerelyjnhavejnanjnawarenessjnthatjn
parativejnLaw globalizationjnhasjnaffectedjnthejnscopejnofjnbusinessjnlaw.jnConsequently,j n wejnhighli
ghtjnthejndefinitionsjntojnthejnfollowingjnkeyjntermsjnthatjnwillj n comejnupjnlaterjninjnthejn
book:

 Trade,jn i.e.jn thej n exchangej n ofj n goodsj n orj n services,j n onj n aj n globalj n scalej n has
j n ledjntojnthejncreationjnofjntradejnagreementsjnthatjnservejnasjndejnfactojnrulesjngo

verningjnthejnglobaljnbusinessjnenvironment.
 Comparativejnlaw—
thejnfieldjnofjnlawjnthatjnstudiesjnandjncomparesjnlawsjninjndifferentjncountries.
AppendixjnonjnCriticaljn Criticaljnthinkingjnincludesjnthejnapplicationjnofjnevaluativejnstandardsjntojnassessjnthejn
ThinkingjnandjnBusine qualityjnorjnthejnreasoningjnbeingjnofferedjntojnsupportjnthejnconclusion.jnCriticaljnthink
ss ersjnwilljnfollowjnthisjnpatternjnofjncarefuljnthinkingjnwhenjntheyjnreadj n anjnargument:
1. Findjnthejnfacts.
2. Lookjnforjnthejnissue.
3. Identifyjnthejnjudge‘sjnreasonsjnandjnconclusion.
4. Locatejninjnthejndecisionjnthejnrulesjnofjnlawjnthatjngovernjnthejnjudge‘sjnreasoning.
5. Applyjncriticaljnthinkingjntojnthejnreasoning.jnEvaluatejnthejnreasoning.
 Lookjnforjnpotentialjnambiguity.
 Considerjnthejnstrengthjnofjnanalogies.