Solution manual for dynamic business law the essentials 6th edition by nancy kubasek

SolutionManual
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DynamicBusinessLaw,6thEdition
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ByNancyKubasek
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,Chapter1-AnIntroductiontoDynamicBusinessLaw
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CHAPTER OVERVIEW c




Chapter One lays the foundation for the textbook. Make sure you look on the publisher‘s web
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site for information about how business law intersects with the six functional areas of business. The
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authors encourage students to ―connect to the core,‖ and remember the ways in which law intersects with
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other areas of study, including corporate management, production and transportation,
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marketing, research and 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
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cencourage students to integrate their business law knowledge with knowledge they are c c c c c c c c c c c




cacquiring from their other business classes. The manual also encourages professors to improve their
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teaching skills. Finally, the manual suggests teaching ideas for both beginning and experienced
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teachers.
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LEARNING OBJECTIVES c




After reading thischapter, students will beable to:
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1-1 Definebusinesslaw. c c




1-2 Relate the functional areas ofbusiness to the relevant areas ofbusiness
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law1- 3 Recall the purposes oflaw.
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1-4 Distinguish amongtypes oflaw. c c c c




1-5 Differentiate betweensources of thelaw. c c c c c




1-6 Identify the various schools ofjurisprudence. c c c c c




LECTURE NOTES WITH DEFINITIONS c c c




In the news…
c c Teaching tip: For each chapter, consider asking students to relate current news c c c c c c c c c c c




items to material fromthe chapter.
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In addition to ideas students come up with on their own, consider weaving in
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cnews stories provided bythe McGraw Hill. c c c c c c




For Chapter One,McGraw Hill offers the followingstories:
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―Smoking Ban: Tobacco Tyrants: Gone Too Far? ManyStates Are Putting c c c c c c c c c c




Stronger Restrictions on Where You Can Smoke‖
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• Havestates gone too farinbanning smoking? c c c c c c c

, • Whose interests are state legislatures looking out for in c c c c c c c c




banning smoking?
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―CollegeOfficerDealingsWithLendersScrutinized.‖ c c c c c




• Should regulators takea more careful look at college officers? c c c c c c c c c




• Whycreated changes inthewayscollege officers interact withlenders? c c c c c c c c c c




1-1 Define c Business law consists of the enforceable rules of conduct that c c c c c c c c c




business law.
c c govern commercial relationships.
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1-2 Relatethe
c c Businesslaw applies tothe six functional areas of business:
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functional areas
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• Corporate management c




of businessto the
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• Production and transportation
relevant areasof
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• Marketing
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businesslaw.
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• Research and development c c




• Accounting and finance c c




• Humanresource management c c




1-3 Recall the
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• Providing order c




cpurposes of c
• Servingas analternative tofighting c c c c c




law.
c


• Facilitatinga sense that change is possible c c c c c c




• Encouraging socialjustice c c




• Guaranteeing personal freedoms c c




• Servingas a moral guide c c c c




1-4 Distinguish
c One wayto classifylaw:
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camong typesof c c

Private law involves disputes betweenprivateindividualsor groups.
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law.
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Public law involves disputes between private individuals or groups and
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their government.
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A secondwayto classifylaw:
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Civil law involves the rights and responsibilities involved in
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relationshipsbetween persons and between persons andtheir government.
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Criminal law involves incidents in which someone commits an act against the
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cpublic asa unit. c c c




Teaching tip: Ask students to give an example of a fact situation that c c c c c c c c c c c c




led to both criminal andcivil lawsuits, e.g.,the O.J. Simpson trials.
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1-5 Differentiate
c Sources of businesslaw are: c c c c




between sources
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1. Constitutions
of the law.
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Constitutional law refers to the general limits and powers of c c c c c c c c c




governments as statedintheir written constitutions.
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2. Statutes orlegislative actions c c c




3. Cases
Case law (or common law) is the collection of legal interpretations
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made by judges.
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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 case in the
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, readings, show themwhat staredecisislookslike inthecontext of a real case.
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4. Administrativelaw c




Administrative law is the collection of rules and decisions c c c c c c c c




made by administrativeagencies.
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5. Treaties
A treaty is a binding agreement between two states or
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cinternational organizations. c




6. Executive orders
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An executive order is a directive that comes from the president or stategovernor.
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1-6 Identify the
c c Schools of jurisprudence are common guides tolegalinterpretation.
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various schools
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• Natural law—certain ethical laws and principles are morally right c c c c c c c c




of
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and c




jurisprudence.
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―above‖thelawsdevisedbyhumans. c c c c c




• Legal Positivism—assumes the legitimate political authority c c c c c




deserves our obedience when itissuesa rule.
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• Identification with the Vulnerable—emphasis on fairness and c c c c c c




looking out for those with the leastpower.
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• Historical School/Tradition—emphasis on theuse of stare decisis. c c c c c c c




• Legal Realism—judges considersocialand economicconditions. c c c c c c




• Cost-benefit Analysis—make calculations to maximize the ratio c c c c c c




of benefits to costs. c c c c




Teaching tip: Consider using ―The Case of the Speluncean Explorers
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Global and c At
(linkthis
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point
below) in the
to makec theschools
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textbook, students come
ofjurisprudence should
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alive.merely have an c c
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c
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c
c

c c
c

c
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c
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Comparative
c awareness that globalization has affected the scope of business law.
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Law
c Consequently, we highlight the definitions to the following key terms that will
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comeup later in the book:
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•
Trade, i.e. the exchange of goods or services, on a global scale has c c c c c c c c c c c c




ledto the creation of trade agreements that serve as de facto rules
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governingthe global business environment.
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• Comparative law—the field of law that studies and compares laws in c c c c c c c c c c




different countries. c c




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




2. Look for the issue. c c c




3. Identify thejudge‘s reasons and conclusion. c c c c c




4. Locate inthedecisionthe rules oflaw that governthejudge‘s reasoning. c c c c c c c c c c c c




5. Applycritical thinkingto the reasoning. Evaluate the reasoning. c c c c c c c c




• Look for potential ambiguity. c c c




• Considerthe strength of analogies. c c c c