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lution Manual g g
DynamicBusinessLaw,6thEdition
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ByNancyKubasek g g g
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Chapter 1 - An Introduction to Dynamic Business Law
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CHAPTER OVERVIEW g
Chapter One lays the foundation for the textbook. Make sure you look on the
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g publisher‘s web site for information about how business law intersects with the six functional
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g areas of business. The authors encourage students to ―connect to the core,‖ and remember the ways in
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gwhich law intersects with other areas of study, including corporate management,
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g production and transportation, marketing, research and development, accounting and finance, and human
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gresource management. g
This manual supports the ―connecting to the core‖ theme by giving ideas for assignments that
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gencourage students to integrate their business law knowledge with knowledge they are acquiring
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gfrom their other business classes. The manual also encourages professors to improve their teaching skills.
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g Finally, the manual suggests teaching ideas for both beginning and experienced teachers.
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LEARNING OBJECTIVES g
After reading this chapter, students will be able to:
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1-1 Define business law. g g
1-2 Relate the functional areas of business to the relevant areas
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g of business law1-3 Recall the purposes of law.
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1-4 Distinguish among types of law. g g g g
1-5 Differentiate between sources of the law. g g g g g
1-6 Identify the various schools of jurisprudence.
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LECTURE NOTES WITH DEFINITIONS g g g
In the news…
g g Teaching tip: For each chapter, consider asking students to relate current
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newsitems to material from the chapter.
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In addition to ideas students come up with on their own,
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consider weaving innews 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 Putting g g g g g g g g g g
Stronger Restrictions on Where You Can Smoke‖
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Have states gone too far in banning smoking? g g g g g g g
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Whose interests are state legislatures looking out for g g g g g g g
in banningsmoking?
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―College Officer Dealings With Lenders Scrutinized.‖ g g g g g
Should regulators take a more careful look at college officers? g g g g g g g g g
Why created changes in the ways college officers interact with g g g g g g g g g
lenders? g
1-1 Define business Business law consists of the enforceable rules of conduct g g g g g g
law.
g that governcommercial relationships.
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1-2 Relate the
g g Business law applies to the six functional areas of business:
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functional areas
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Corporate management g
ofbusiness to
Production and transportation
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the relevant
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areas of business
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Marketing
law.
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Research and development g g
Accounting and finance g g
Human resource management g g
1-3 Recall the
g g Providing order g
purposes of
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Serving as an alternative to fighting g g g g g
law.
Facilitating a sense that change is possible
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Encouraging social justice g g
Guaranteeing personal freedoms g g
Serving as a moral guide g g g g
1-4 Distinguish
g One way to classify law:
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among types of
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Private law involves disputes between private individuals or groups.
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law.
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Public law involves disputes between private individuals or groups
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and theirgovernment.
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A second way to classify law:
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Civil law involves the rights and responsibilities involved in relationships
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between persons and between persons and their government.
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Criminal law involves incidents in which someone commits an act g g g g g g g g g
against thepublic as a unit.
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Teaching tip: Ask students to give an example of a fact g g g g g g g g g g
situation that led toboth criminal and civil lawsuits, e.g., the O.J.
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Simpson trials.
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1-5 Differentiate
g Sources of business law are: g g g g
between sources
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1. Constitutions
ofthe law.
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Constitutional law refers to the general limits and powers of g g g g g g g g g
governments asstated in their written constitutions.
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2. Statutes or legislative actions g g g
3. Cases
Case law (or common law) is the collection of legal
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interpretations made byjudges.
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Stare decisis means courts are relying on precedent.
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Teaching tip: The first time your students encounter an appellate g g g g g g g g g
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case in the
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