Dynamic Business Law The Essentials, 5th Edition, Nancy Kubasek
Chapter 1-25
Chapter 1: An Introduction to the Fundamentals of Dynamic Business Law and
Business Ethics
1. CHAPTER OVERVIEW
Chapter 1 lays the foundation for the textbook. The textbook emphasizes ways in which business
law intersects with the six functional areas of business. Throughout the textbook, the authors will
encourage students to ―connect to the core,‖ and remember the ways in which law intersects with
other areas of study, including corporate management, production and transportation, marketing,
research and development, accounting and finance, and human resource management.
This manual supports the ―connecting to the core‖ theme by giving ideas for assignments that
encourage students to integrate their business law knowledge with knowledge they are acquiring
from their other business classes. The manual also encourages professors to improve their
teaching skills. Finally, the manual suggests teaching ideas for both beginning and experienced
teachers.
2. LEARNING OBJECTIVES
After reading this chapter, students will be able to answer the following questions:
1. What is business law?
2. How does business law relate to business education?
3. What are the purposes of law?
4. What are alternative ways to classify law?
5. What are the sources of law?
6. What are the various schools of jurisprudence?
3. LECTURE NOTES WITH DEFINITIONS
a. In the news…
Teaching tip: For each chapter, consider asking students to relate current news items to material
from the chapter.
In addition to ideas students come up with on their own, consider weaving in news stories
provided by the McGraw-Hill. Stories are available via a McGraw-Hill DVD, and on the
publisher‘s web site.
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© @y2021 @yMcGraw-Hill @yEducation. @yAll @yrights @yreserved. @yNo @yreproduction @yor @ydistribution @ywithout @ythe @yprior
@ywritten @yconsent @yof @yMcGraw- @ y Hill @yEducation.
,For @yChapter @yOne, @yMcGraw-Hill @yoffers @ythe @yfollowing @ystories:
―Smoking @yBan: @ y Tobacco @yTyrants: @yGone @yToo @yFar? @yMany @yStates @yAre @yPutting @yStronger
@yRestrictions @yon @yWhere @yYou @yCan @ySmoke‖
Have @ystates @ygone @ytoo @yfar @yin @ybanning @ysmoking?
Whose @yinterests @yare @ystate @ylegislatures @ylooking @yout @yfor @yin @ybanning @ysmoking?
―College @yOfficer @yDealings @yWith @yLenders @yScrutinized.‖
Should @yregulators @ytake @ya @ymore @ycareful @ylook @yat @ycollege @yofficers?
Why @ycreated @ychanges @yin @ythe @yways @ycollege @yofficers @yinteract @ywith @ylenders?
b. What @yis @ybusiness @ylaw?
Business @ylaw @yconsists @yof @ythe @yenforceable @yrules @yof @yconduct @ythat @ygovern @ythe @yactions
@yof @ybuyers @yand @ysellers @yin @ymarket @yexchanges.
c. How @ydoes @ybusiness @ylaw @yrelate @yto @ybusiness @yeducation?
Business @ylaw @yapplies @yto @ythe @ysix @yfunctional @yareas @yof @ybusiness:
Management
Production @yand @ytransportation
Marketing
Research @yand @ydevelopment
Accounting @yand @yfinance
Human @yresource @ymanagement
d. What @yare @ythe @ypurposes @yof @ylaw?
Providing @yorder
Serving @yas @yan @yalternative @yto @yfighting
Facilitating @ya @ysense @ythat @ychange @yis @ypossible
Encouraging @ysocial @yjustice
Guaranteeing @ypersonal @yfreedoms
Serving @yas @ya @ymoral @yguide
e. What @yare @yalternative @yways @yto @yclassify @ylaw?
One @yway @yto @yclassify @ylaw:
Private @ylaw @yinvolves @ydisputes @ybetween @yprivate @yindividuals @yor @ygroups.
Public @ylaw @yinvolves @ydisputes @ybetween @yprivate @yindividuals @yor @ygroups @yand @ytheir @ygovernment.
A @ysecond @yway @yto @yclassify @ylaw:
Civil @ylaw @yis @ythe @ybody @yof @ylaws @ythat @ygovern @ythe @yrights @yand @yresponsibilities @yeither
@ybetween @ypersons @yor @ybetween @ypersons @yand @ytheir @ygovernment.
Criminal @ylaw @yis @ythe @ybody @yof @ylaws @ythat @yinvolve @ythe @yrights @yand @yresponsibilities @yan
@yindividual @yhas @ywith @yrespect @yto @ythe @ypublic @yas @ya @ywhole.
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© @y2021 @yMcGraw-Hill @yEducation. @yAll @yrights @yreserved. @yNo @yreproduction @yor @ydistribution @ywithout @ythe @yprior
@ywritten @yconsent @yof @yMcGraw- @ y Hill @yEducation.
,Teaching @ytip: @ y Ask @ystudents @yto @ygive @yan @yexample @yof @ya @yfact @ysituation @ythat @yled @yto
@yboth @ycriminal @yand @ycivil @ylawsuits, @ye.g., @ythe @yO.J. @ySimpson @ytrials.
f. What @yare @ythe @ysources @yof @ylaw?
Sources @yof @ybusiness @ylaw @yare:
1. Constitutions
Constitutional @ylaw @yrefers @yto @ythe @ygeneral @ylimits @yand @ypowers @yof @ygovernments @yas
@ystated @yin @ytheir @ywritten @yconstitutions.
2. Statutes @yor @ylegislative @yactions
Statutes @yor @ylegislative @yactions @yrefer @yto @ythe @yassortment @yof @yrules @yand @yregulations @yput
@yforth @yby @ylegislatures.
3. Cases
Case @ylaw @y(or @ycommon @ylaw) @yis @ythe @ycollection @yof @ylegal @yinterpretations @ymade @yby
@yjudges. @yPrecedent @yis @ya @ytool @yused @yby @yjudges @yto @ymake @yrulings @yon @ycases @yon @ythe
@ybasis @yof @ykey @ysimilarities @yto @yprevious @ycases.
Stare @ydecisis @yis @ya @yprinciple @ystating @ythat @yrulings @ymade @yin @yhigher @ycourts @yare @ybinding
@yprecedent @yfor @ylower @ycourts.
Teaching @ytip: @ y The @yfirst @ytime @yyour @ystudents @yencounter @yan @yappellate @ycase @yin @ythe
@yreadings, @yshow @ythem @ywhat @ystare @ydecisis @ylooks @ylike @yin @ythe @ycontext @yof @ya @yreal
@ycase.
4. Administrative @ylaw
Administrative @ylaw @yis @ythe @ycollection @yof @yrules @yand @ydecisions @ymade @yby @yadministrative
@yagencies @yto @yfill @yin @yparticular @ydetails @ymissing @yfrom @yconstitutions @yand @ystatutes.
5. Treaties
A @ytreaty @yis @ya @ybinding @yagreement @ybetween @ytwo @ystates @yor @yinternational @yorganizations.
6. Executive @yorders
An @yexecutive @yorder @yis @ya @ydirective @ythat @ycomes @yfrom @ythe @ypresident @yor @ystate @ygovernor.
g. What @yare @ythe @yvarious @yschools @yof @ylegal @yinterpretation?
Some @yschools @yof @ylegal @yinterpretation @yinclude:
Identification @ywith @ythe @yVulnerable— @yemphasis @yon @yfairness @yand @ylooking
@yout @yfor @ythose @ywith @ythe @yleast @ypower.
Historical @ySchool/ @yTradition—emphasis @yon @ythe @yuse @yof @ytraditions @yand @ystare @ydecisis.
Legal @yRealism—judges @yconsider @ycontext @ysuch @yas @ysocial @yand @yeconomic @yconditions.
Cost-benefit @yAnalysis—emphasis @yis @yon @yassigning @ymonetary @yvalues @yto @ycosts
@yand @ybenefits @yof @ythe @ylaw @yin @yorder @yto @ymake @ycalculations @yto @ymaximize @ythe
@yratio @yof @ybenefits @yto @ycosts.
Teaching @ytip: @ y Consider @yusing @y―The @yCase @yof @ythe @ySpeluncean @yExplorers @y(link @ybelow)
@yto @ymake @ythe @yschools @yof @yjurisprudence @ycome @yalive.
h. Appendix @yon @yCritical @yThinking @yand @yBusiness @yLaw
Critical @ythinking @yincludes @ythe @yapplication @yof @yevaluative @ystandards @yto @yassess @ythe
@yquality @yor @ythe @yreasoning @ybeing @yoffered @yto @ysupport @ythe @yconclusion. @ y Critical @ythinkers
@ywill @yfollow @ythis @ypattern @yof @ycareful @ythinking @ywhen @ythey @yread @yan @yargument:
1. Find @ythe @yfacts.
2. Look @yfore @ythe @yissue.
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© @y2021 @yMcGraw-Hill @yEducation. @yAll @yrights @yreserved. @yNo @yreproduction @yor @ydistribution @ywithout @ythe @yprior
@ywritten @yconsent @yof @yMcGraw- @ y Hill @yEducation.
, 3. Identify @ythe @yjudge‘s @yreasons @yand @yconclusion.
4. Locate @yin @ythe @ydecision @ythe @yrules @yof @ylaw @ythat @ygovern @ythe @yjudge‘s @yreasoning.
5. Apply @ycritical @ythinking @yto @ythe @yreasoning. @ y Evaluate @ythe @yreasoning.
Look @yfor @ypotential @yambiguity.
Consider @ythe @ystrength @yof @yanalogies.
Check @ythe @yquality @yof @ythe @yjudge‘s @yreasoning.
Decide @ywhether @yimportant @yinformation @yis @ymissing.
Consider @ythe @ypossibility @yof @yrival @ycauses.
4. TEACHING @ y SKILLS: @ y BLOOM’S @ y TAXONOMY @ y SETS @ y THE
@ y STAGE @ y TO @yTHINK @yABOUT @yTHE @yKINDS @yOF @yQUESTIONS @yTO
@yASK @yYOUR @ySTUDENTS
Benjamin @yBloom, @yin @yhis @yTaxonomy @yof @yEducational @yObjectives,* @ydeveloped @ya
@yhierarchy @yof @ycognitive @yfunctions. @ y His @ywork @ysets @ythe @ystage @yfor @yteachers @yto
@yunderstand @ywhy @yit @yis @yimportant @yto @ythink @ycarefully @yabout @ythe @ykinds @yof @yquestions
@ythey @yask @yin @yclass.
The @yObjective Sample @yquestions
Knowledge What @yis @ybusiness @ylaw?
Lowest @ylevel @yof @ylearning @yand @yis @ymostly What @yare @ythe @yfour @yelements @yof @ya
@ymemory. @yThe @ystudent @yrecognizes @yand @ynegligence @yclaim?
@yrecalls @yinformation.
Comprehension What @yis @yyour @yunderstanding @yof @ythe
Lowest @ylevel @yof @yunderstanding. @yThe @ystudent @yconcept @yof @ystare @ydecisis?
@yparaphrases @yor @yexplains @ysomething. What @ydoes @yyour @ytextbook
@ymean @yby @ydeontology?
Application How @ywould @ya @ynatural @ylaw @ythinker
@yrespond @yto @ythis @yparticular @yfact
Student @ydemonstrates @yher @yunderstanding @yof
@ypattern?
@yabstract @yrules, @yprinciples, @yor
@ygeneralizations @yby @yusing @ythem @yto @ysolve Use @ya @yparticular @ycase @yrule @yto
@ylife-like @yproblems. @ydetermine
whether @ythe @yplaintiff @ywill @ybe
@ysuccessful @yin @yher @yclaim.
Analysis Provide @ythe @yreasoning @yfor @ythe
Student @ybreaks @ydown @ya @ycommunication @yto @yfollowing @ystatement: @yAll @ycontracts
@ydiscover @ythe @yhidden @ystructure @yas @ywell @yas @ydo @ynot @yneed @yto @ybe @yin @ywriting @yto
@yassumptions. @ybe @yenforceable.
Break @ydown @ya @yparticular @yjudge‘s
@yopinion @yto
understand @ythe @yassumptions @ythe @yjudge @yis
@ymaking.
Synthesis Explain @yhow @ytwo @yparticular @yschools @yof
@ylegal @yinterpretation @yare @yrelated.
Student @ycreatively @ycombines @yelements @yand
@yparts @yto @yform @ya @ywhole @ynew @ystructure. Make @ya @yconnection @ybetween @yduress
@yand @yinsanity.
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© @y2021 @yMcGraw-Hill @yEducation. @yAll @yrights @yreserved. @yNo @yreproduction @yor @ydistribution @ywithout @ythe @yprior
@ywritten @yconsent @yof @yMcGraw- @ y Hill @yEducation.