Copyright 2018 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. WCN 02-200-203
, SMITH & ROBERSON’S
Business Law
S E V E N T E E N T H E D I T I O N
RICHARD A. MANN
Professor of Business Law
The University of North Carolina at Chapel Hill
Member of the North Carolina Bar
BARRY S. ROBERTS
Professor of Business Law
The University of North Carolina at Chapel Hill
Member of the North Carolina and Pennsylvania Bars
Australia • Brazil • Japan • Korea • Mexico • Singapore • Spain • United Kingdom • United States
Copyright 2018 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. WCN 02-200-203
, R
Smith & Roberson’s Business Law, ª 2018, 2015 Cengage LearningV
Seventeenth Edition
Richard A. Mann and Barry S. Roberts ALL RIGHTS RESERVED. No part of this work covered by the copyright herein
may be reproduced or distributed in any form or by any means, except as
SVP, General Manager for Social Sciences
permitted by U.S. copyright law, without the prior written permission of the
Humanities & Business: Erin Joyner
copyright owner.
Product Director: Jason Fremder
Product Manager: Vicky True-Baker
For product information and technology assistance, contact us at
Content Developer: Amanda White
Cengage Learning Customer & Sales Support, 1-800-354-9706
Product Assistant: Christian D. Wood
For permission to use material from this text or product, submit all
Marketing Director: Kristen Hurd
requests online at www.cengage.com/permissions
Marketing Manager: Katie Jergens Further permissions questions can be emailed to
Marketing Coordinator: Casey Binder
Content Digitization Specialist: Charles Nichols
Production Management and Composition:
Cenveo Publisher Services Library of Congress Control Number: 2016945890
Sr. IP Director: Julie Geagan-Chavez ISBN: 978-1-337-09475-7
Intellectual Property
Analyst: Jennifer Bowes Unless otherwise noted, all items are owned by Cengage Learning.
Project Manager: Reba Frederics
Cengage Learning
Manufacturing Planner: Kevin Kluck
20 Channel Center Street
Senior Art Director: Michelle Kunkler Boston, MA 02210
Cover/Internal Designer: cmillerdesign USA
Interior design credits: Ida Jarosova/iStock/
Getty Images Plus/Getty Images; Cengage Learning is a leading provider of customized learning solutions
Africa Studio/ShutterStock.com with employees residing in nearly 40 different countries and sales in more
than 125 countries around the world. Find your local representative at
www.cengage.com.
Cengage Learning products are represented in Canada by
Nelson Education, Ltd.
To learn more about Cengage Learning Solutions, visit www.cengage.com
Purchase any of our products at your local college store or at our preferred
online store www.cengagebrain.com
Printed in the United States of America
Print Number: 01 Print Year: 2016
Copyright 2018 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. WCN 02-200-203
, About the Authors
Richard A. Mann received a B.S. in mathematics from Barry S. Roberts received a B.S. in business administration
the University of North Carolina at Chapel Hill and a J.D. from Pennsylvania State University, a J.D. from the Uni-
from Yale Law School. He is professor emeritus of business versity of Pennsylvania, and an LL.M. from Harvard Law
law at the Kenan-Flagler School of Business, University of School. He served as a judicial clerk for the Pennsylvania
North Carolina at Chapel Hill, and is past president of Supreme Court prior to practicing law in Pittsburgh. Barry
the Southeastern Regional Business Law Association. He Roberts is professor of business law at the Kenan-Flagler
is a member of Who’s Who in America, Who’s Who in School of Business, University of North Carolina at Chapel
American Law, and the North Carolina Bar. Hill, and is a member of Who’s Who in American Law
Professor Mann has written extensively on a number of and the North Carolina and Pennsylvania Bars.
legal topics, including bankruptcy, sales, secured transac- Professor Roberts has written numerous articles on
tions, real property, insurance law, and business associa- such topics as antitrust, products liability, constitutional
tions. He has received the American Business Law Journal’s law, banking law, employment law, and business asso-
award both for the best article and for the best comment ciations. He has been a reviewer and staff editor for
and has served as a reviewer and staff editor for the publica- the American Business Law Journal. He is coauthor of
tion. Professor Mann is a coauthor of Business Law and Business Law and the Regulation of Business (Twelfth
the Regulation of Business (Twelfth Edition), Essentials of Edition), Essentials of Business Law and the Legal Envi-
Business Law and the Legal Environment (Twelfth Edition), ronment (Twelfth Edition), and Contemporary Business
and Contemporary Business Law. Law.
iii
Copyright 2018 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. WCN 02-200-203
, SMITH & ROBERSON’S
Business Law
S E V E N T E E N T H E D I T I O N
RICHARD A. MANN
Professor of Business Law
The University of North Carolina at Chapel Hill
Member of the North Carolina Bar
BARRY S. ROBERTS
Professor of Business Law
The University of North Carolina at Chapel Hill
Member of the North Carolina and Pennsylvania Bars
Australia • Brazil • Japan • Korea • Mexico • Singapore • Spain • United Kingdom • United States
Copyright 2018 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. WCN 02-200-203
, R
Smith & Roberson’s Business Law, ª 2018, 2015 Cengage LearningV
Seventeenth Edition
Richard A. Mann and Barry S. Roberts ALL RIGHTS RESERVED. No part of this work covered by the copyright herein
may be reproduced or distributed in any form or by any means, except as
SVP, General Manager for Social Sciences
permitted by U.S. copyright law, without the prior written permission of the
Humanities & Business: Erin Joyner
copyright owner.
Product Director: Jason Fremder
Product Manager: Vicky True-Baker
For product information and technology assistance, contact us at
Content Developer: Amanda White
Cengage Learning Customer & Sales Support, 1-800-354-9706
Product Assistant: Christian D. Wood
For permission to use material from this text or product, submit all
Marketing Director: Kristen Hurd
requests online at www.cengage.com/permissions
Marketing Manager: Katie Jergens Further permissions questions can be emailed to
Marketing Coordinator: Casey Binder
Content Digitization Specialist: Charles Nichols
Production Management and Composition:
Cenveo Publisher Services Library of Congress Control Number: 2016945890
Sr. IP Director: Julie Geagan-Chavez ISBN: 978-1-337-09475-7
Intellectual Property
Analyst: Jennifer Bowes Unless otherwise noted, all items are owned by Cengage Learning.
Project Manager: Reba Frederics
Cengage Learning
Manufacturing Planner: Kevin Kluck
20 Channel Center Street
Senior Art Director: Michelle Kunkler Boston, MA 02210
Cover/Internal Designer: cmillerdesign USA
Interior design credits: Ida Jarosova/iStock/
Getty Images Plus/Getty Images; Cengage Learning is a leading provider of customized learning solutions
Africa Studio/ShutterStock.com with employees residing in nearly 40 different countries and sales in more
than 125 countries around the world. Find your local representative at
www.cengage.com.
Cengage Learning products are represented in Canada by
Nelson Education, Ltd.
To learn more about Cengage Learning Solutions, visit www.cengage.com
Purchase any of our products at your local college store or at our preferred
online store www.cengagebrain.com
Printed in the United States of America
Print Number: 01 Print Year: 2016
Copyright 2018 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. WCN 02-200-203
, About the Authors
Richard A. Mann received a B.S. in mathematics from Barry S. Roberts received a B.S. in business administration
the University of North Carolina at Chapel Hill and a J.D. from Pennsylvania State University, a J.D. from the Uni-
from Yale Law School. He is professor emeritus of business versity of Pennsylvania, and an LL.M. from Harvard Law
law at the Kenan-Flagler School of Business, University of School. He served as a judicial clerk for the Pennsylvania
North Carolina at Chapel Hill, and is past president of Supreme Court prior to practicing law in Pittsburgh. Barry
the Southeastern Regional Business Law Association. He Roberts is professor of business law at the Kenan-Flagler
is a member of Who’s Who in America, Who’s Who in School of Business, University of North Carolina at Chapel
American Law, and the North Carolina Bar. Hill, and is a member of Who’s Who in American Law
Professor Mann has written extensively on a number of and the North Carolina and Pennsylvania Bars.
legal topics, including bankruptcy, sales, secured transac- Professor Roberts has written numerous articles on
tions, real property, insurance law, and business associa- such topics as antitrust, products liability, constitutional
tions. He has received the American Business Law Journal’s law, banking law, employment law, and business asso-
award both for the best article and for the best comment ciations. He has been a reviewer and staff editor for
and has served as a reviewer and staff editor for the publica- the American Business Law Journal. He is coauthor of
tion. Professor Mann is a coauthor of Business Law and Business Law and the Regulation of Business (Twelfth
the Regulation of Business (Twelfth Edition), Essentials of Edition), Essentials of Business Law and the Legal Envi-
Business Law and the Legal Environment (Twelfth Edition), ronment (Twelfth Edition), and Contemporary Business
and Contemporary Business Law. Law.
iii
Copyright 2018 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. WCN 02-200-203
