Solution Manual
Dynamic Business Law, 6th Edition
By Nancy Kubasek
,Chapter u1 u- uAn uIntroduction uto uDynamic uBusiness uLaw
CHAPTER uOVERVIEW
Chapter uOne ulays uthe ufoundation ufor uthe utextbook. uMake usure uyou ulook uon uthe upublisher‘s uweb
usite ufor uinformation uabout uhow ubusiness ulaw uintersects uwith uthe usix ufunctional uareas uof ubusiness.
uThe uauthors uencourage ustudents uto u―connect uto uthe ucore,‖ uand uremember uthe uways uin uwhich ulaw
uintersects uwith uother uareas uof ustudy, uincluding ucorporate umanagement, uproduction uand
utransportation, umarketing, uresearch uand udevelopment, uaccounting uand ufinance, uand uhuman uresource
umanagement.
This u manual u supports u the u ―connecting u to u the u core‖ u theme u by u giving u ideas u for u assignments u that
u encourage ustudents uto uintegrate utheir ubusiness ulaw uknowledge uwith uknowledge uthey uare uacquiring
ufrom utheir uother ubusiness uclasses. uThe umanual ualso uencourages uprofessors uto uimprove utheir uteaching
uskills. uFinally, uthe umanual usuggests uteaching uideas ufor uboth ubeginning uand uexperienced uteachers.
LEARNING uOBJECTIVES
After ureading uthis uchapter, ustudents uwill ube uable uto:
1-1 Define ubusiness ulaw.
1-2 Relate uthe ufunctional uareas uof ubusiness uto uthe urelevant uareas uof
ubusiness ulawu1-3 uRecall uthe upurposes uof ulaw.
1-4 Distinguish uamong utypes uof ulaw.
1-5 Differentiate ubetween usources uof uthe ulaw.
1-6 Identify uthe uvarious uschools uof ujurisprudence.
LECTURE uNOTES uWITH uDEFINITIONS
In uthe unews… Teaching utip: uFor ueach uchapter, uconsider uasking ustudents uto urelate ucurrent
u newsuitems uto umaterial ufrom uthe uchapter.
In u addition u to u ideas u students u come u up u with u on u their u own, u consider
u weaving u inunews ustories uprovided uby uthe uMcGraw uHill.
For uChapter uOne, uMcGraw uHill uoffers uthe ufollowing ustories:
―Smoking uBan: uTobacco uTyrants: uGone uToo uFar? uMany uStates uAre uPutting
uStronger uRestrictions uon uWhere uYou uCan uSmoke‖
Have ustates ugone utoo ufar uin ubanning usmoking?
, Whose u interests u are u state u legislatures u looking u out u for u in
u banningusmoking?
―College uOfficer uDealings uWith uLenders uScrutinized.‖
Should uregulators utake ua umore ucareful ulook uat ucollege uofficers?
Why ucreated uchanges uin uthe uways ucollege uofficers uinteract uwith
ulenders?
1-1 u Define u business Business u law u consists u of u the u enforceable u rules u of u conduct u that
ulaw. u governucommercial urelationships.
1-2 uRelate uthe Business ulaw uapplies uto uthe usix ufunctional uareas uof ubusiness:
ufunctional uareas Corporate umanagement
uofubusiness uto
uthe urelevant
Production uand utransportation
uareas uof ubusiness Marketing
ulaw. Research uand udevelopment
Accounting uand ufinance
Human uresource umanagement
1-3 uRecall uthe Providing uorder
upurposes uof Serving uas uan ualternative uto ufighting
ulaw.
Facilitating ua usense uthat uchange uis upossible
Encouraging usocial ujustice
Guaranteeing upersonal ufreedoms
Serving uas ua umoral uguide
1-4 uDistinguish One uway uto uclassify ulaw:
uamong utypes uof Private ulaw uinvolves udisputes ubetween uprivate uindividuals uor ugroups.
ulaw. Public u law u involves u disputes u between u private u individuals u or u groups u and
u theirugovernment.
A usecond uway uto uclassify ulaw:
Civil ulaw uinvolves uthe urights uand uresponsibilities uinvolved uin urelationships
ubetween upersons uand ubetween upersons uand utheir ugovernment.
Criminal u law u involves u incidents uin u which usomeone u commits u an u act
u against u theupublic uas ua uunit.
Teaching u tip: u Ask u students u to u give u an u example u of u a u fact u situation
u that u led u touboth ucriminal uand ucivil ulawsuits, ue.g., uthe uO.J. uSimpson utrials.
1-5 uDifferentiate Sources uof ubusiness ulaw uare:
ubetween usources 1. Constitutions
uofuthe ulaw.
Constitutional u law u refers u to u the u general u limits u and u powers u of
u governments u asustated uin utheir uwritten uconstitutions.
2. Statutes uor ulegislative uactions
3. Cases
Case u law u (or u common u law) u is u the u collection u of u legal u interpretations
u made u byujudges.
Stare udecisis umeans ucourts uare urelying uon uprecedent.
Teaching u tip: u The u first u time u your u students u encounter u an u appellate
, u case u in u the
Dynamic Business Law, 6th Edition
By Nancy Kubasek
,Chapter u1 u- uAn uIntroduction uto uDynamic uBusiness uLaw
CHAPTER uOVERVIEW
Chapter uOne ulays uthe ufoundation ufor uthe utextbook. uMake usure uyou ulook uon uthe upublisher‘s uweb
usite ufor uinformation uabout uhow ubusiness ulaw uintersects uwith uthe usix ufunctional uareas uof ubusiness.
uThe uauthors uencourage ustudents uto u―connect uto uthe ucore,‖ uand uremember uthe uways uin uwhich ulaw
uintersects uwith uother uareas uof ustudy, uincluding ucorporate umanagement, uproduction uand
utransportation, umarketing, uresearch uand udevelopment, uaccounting uand ufinance, uand uhuman uresource
umanagement.
This u manual u supports u the u ―connecting u to u the u core‖ u theme u by u giving u ideas u for u assignments u that
u encourage ustudents uto uintegrate utheir ubusiness ulaw uknowledge uwith uknowledge uthey uare uacquiring
ufrom utheir uother ubusiness uclasses. uThe umanual ualso uencourages uprofessors uto uimprove utheir uteaching
uskills. uFinally, uthe umanual usuggests uteaching uideas ufor uboth ubeginning uand uexperienced uteachers.
LEARNING uOBJECTIVES
After ureading uthis uchapter, ustudents uwill ube uable uto:
1-1 Define ubusiness ulaw.
1-2 Relate uthe ufunctional uareas uof ubusiness uto uthe urelevant uareas uof
ubusiness ulawu1-3 uRecall uthe upurposes uof ulaw.
1-4 Distinguish uamong utypes uof ulaw.
1-5 Differentiate ubetween usources uof uthe ulaw.
1-6 Identify uthe uvarious uschools uof ujurisprudence.
LECTURE uNOTES uWITH uDEFINITIONS
In uthe unews… Teaching utip: uFor ueach uchapter, uconsider uasking ustudents uto urelate ucurrent
u newsuitems uto umaterial ufrom uthe uchapter.
In u addition u to u ideas u students u come u up u with u on u their u own, u consider
u weaving u inunews ustories uprovided uby uthe uMcGraw uHill.
For uChapter uOne, uMcGraw uHill uoffers uthe ufollowing ustories:
―Smoking uBan: uTobacco uTyrants: uGone uToo uFar? uMany uStates uAre uPutting
uStronger uRestrictions uon uWhere uYou uCan uSmoke‖
Have ustates ugone utoo ufar uin ubanning usmoking?
, Whose u interests u are u state u legislatures u looking u out u for u in
u banningusmoking?
―College uOfficer uDealings uWith uLenders uScrutinized.‖
Should uregulators utake ua umore ucareful ulook uat ucollege uofficers?
Why ucreated uchanges uin uthe uways ucollege uofficers uinteract uwith
ulenders?
1-1 u Define u business Business u law u consists u of u the u enforceable u rules u of u conduct u that
ulaw. u governucommercial urelationships.
1-2 uRelate uthe Business ulaw uapplies uto uthe usix ufunctional uareas uof ubusiness:
ufunctional uareas Corporate umanagement
uofubusiness uto
uthe urelevant
Production uand utransportation
uareas uof ubusiness Marketing
ulaw. Research uand udevelopment
Accounting uand ufinance
Human uresource umanagement
1-3 uRecall uthe Providing uorder
upurposes uof Serving uas uan ualternative uto ufighting
ulaw.
Facilitating ua usense uthat uchange uis upossible
Encouraging usocial ujustice
Guaranteeing upersonal ufreedoms
Serving uas ua umoral uguide
1-4 uDistinguish One uway uto uclassify ulaw:
uamong utypes uof Private ulaw uinvolves udisputes ubetween uprivate uindividuals uor ugroups.
ulaw. Public u law u involves u disputes u between u private u individuals u or u groups u and
u theirugovernment.
A usecond uway uto uclassify ulaw:
Civil ulaw uinvolves uthe urights uand uresponsibilities uinvolved uin urelationships
ubetween upersons uand ubetween upersons uand utheir ugovernment.
Criminal u law u involves u incidents uin u which usomeone u commits u an u act
u against u theupublic uas ua uunit.
Teaching u tip: u Ask u students u to u give u an u example u of u a u fact u situation
u that u led u touboth ucriminal uand ucivil ulawsuits, ue.g., uthe uO.J. uSimpson utrials.
1-5 uDifferentiate Sources uof ubusiness ulaw uare:
ubetween usources 1. Constitutions
uofuthe ulaw.
Constitutional u law u refers u to u the u general u limits u and u powers u of
u governments u asustated uin utheir uwritten uconstitutions.
2. Statutes uor ulegislative uactions
3. Cases
Case u law u (or u common u law) u is u the u collection u of u legal u interpretations
u made u byujudges.
Stare udecisis umeans ucourts uare urelying uon uprecedent.
Teaching u tip: u The u first u time u your u students u encounter u an u appellate
, u case u in u the
