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

Solution Manual
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DynamicBusinessLaw,6thEdition
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ByNancyKubasek
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,Chapter1-AnIntroduction to Dynamic Business Law
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CHAPTER OVERVIEW v




Chapter One lays the foundation for the textbook. Make sure you look on the publisher‘s web site for
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information about how business law intersects with the six functional areas of business. The authors
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encourage students to ―connect to the core,‖ and remember the ways in which law intersects with other areas of
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study, including corporate management, production and transportation, marketing, research and
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development, accounting and 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
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students to integrate their business law knowledge with knowledge they are acquiring from their other
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business classes. The manual also encourages professors to improve their teaching skills. Finally, the manual
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suggeststeachingideasforbothbeginningandexperienced teachers.
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LEARNING OBJECTIVES v




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




1-2 Relatethefunctionalareasof businesstotherelevantareasofbusinesslaw1- 3
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Recall the purposes of law.
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1-4 Distinguish among types oflaw. v v v v




1-5 Differentiatebetweensources of thelaw. v v v v v




1-6 Identify the various schools of jurisprudence.
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LECTURE NOTES WITH DEFINITIONS v v v




In the news…
v v Teachingtip:For eachchapter,considerasking students to relatecurrent news items
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to material from the chapter.
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In addition to ideas students come up with on their own, consider weaving in news
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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 Stronger
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Restrictions on Where You Can Smoke‖
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• Have states gone too farin banning smoking? v v v v v v v

, • Whose interests are state legislatures looking out for in banning v v v v v v v v v




smoking?
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―College Officer Dealings With Lenders Scrutinized.‖ v v v v v




• Should regulators take a more careful look at college officers? v v v v v v v v v




• Why created changes in the ways college officers interact with lenders? v v v v v v v v v v




1-1 Define business
v v Business law consists of the enforceable rules of conduct that govern
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law.
v commercial relationships.
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1-2 Relate the
v v Business lawapplies tothe six functional areas of business:
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functionalareasof
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• Corporate management v



business to the
• Production andtransportation
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relevant areas of
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business law.
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• Marketing
• Research and development v v




• Accounting and finance v v




• Human resource management v v




1-3 Recall the
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purposes oflaw.
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• Serving as an alternative to fighting v v v v v




• Facilitating asensethat change is possible v v v v v v




• Encouraging social justice v v




• Guaranteeing personal freedoms v v




• Serving as a moral guide v v v v




1-4 Distinguish
v One way to classify law:
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among types of law.
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Private lawinvolves disputes between private individualsor groups.
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Public law involves disputes between private individuals or groups and their
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government.
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A second way to classify law:
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Civil law involves the rights and responsibilities involved in relationshipsbetween
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persons and between persons and their government.
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Criminal law involves incidents in which someone commits an actagainst the public
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as a unit.
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Teaching tip: Ask students to give an example of a fact situation that led to both
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criminal andcivil lawsuits,e.g., theO.J. Simpsontrials.
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1-5 Differentiate
v Sources of business law are: v v v v




betweensourcesof
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1. Constitutions
the law.
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Constitutional law refers to the general limits and powers of governments as stated v v v v v v v v v v v v




in their written constitutions.
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2. Statutes or legislative actions v v v




3. Cases
Case law (or common law) is the collection of legal interpretations made by judges.
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Stare decisis meanscourtsare relyingon 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 v




Administrative law is the collection of rules and decisions made by v v v v v v v v v v




administrative agencies.
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5. Treaties
A treaty is a binding agreement between two states or international
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organizations.
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6. Executive orders v




An executive order is a directivethat comes fromthe president or stategovernor.
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1-6 Identify the
v v Schools of jurisprudence are common guides to legal interpretation.
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various schoolsof
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• Natural law—certain ethical laws and principles are morally right and v v v v v v v v v



jurisprudence.
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―above‖ the laws devised by humans. v v v v v




• Legal Positivism—assumes the legitimate political authority deserves v v v v v v




our obedience when it issues a rule.
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• Identification with the Vulnerable—emphasis onfairness and looking v v v v v v v




out for those with the least power.
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• HistoricalSchool/Tradition—emphasis on the useof stare decisis. v v v v v v v




• Legal Realism—judges consider social and economic conditions. v v v v v v




• Cost-benefit Analysis—make calculations to maximizethe ratio of v v v v v v v




benefits to costs.
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Teaching tip: Consider using ―The Case of the Speluncean Explorers (link
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below) to make the schools of jurisprudence come alive.
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Global and
v At this point in the textbook, students should merely have an awareness that
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ComparativeLaw
v v globalization has affected the scope of business law. Consequently, we highlight the
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definitions 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 ledto the
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creation of trade agreements that serve as de facto rules governing the global
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business environment.
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• Comparative law—the field of law that studies and compares laws in v v v v v v v v v v




different countries.
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Appendix on Critical
v v Critical thinking includes the application of evaluative standards to assess the
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Thinking and
v v quality or the reasoning being offered to support the conclusion. Critical thinkers will
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Business
v follow this pattern of careful thinking when they read an argument:
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1. Find the facts. v v




2. Look for the issue. v v v




3. Identify the judge‘s reasons and conclusion. v v v v v




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. v v v




• Consider the strength of analogies. v v v v