Course Description
The student will identify basic principles of law that apply to business. Through case studies, the student will practice the decision-making process and demonstrate an understanding of contracts, commercial papers, sales, personal property and bailment, and real property.
Topical Outline
- The Law
- The Constitution
- US Government structure
- Civil vs criminal law
- Business organization
- Torts/negligence
- Contract law/digital law
- Sales contracts/warranties
- Negotiable instruments
- Banking
- Agency law
- Employment law/EFOC
- Business ethics/social responsibility
- Bankruptcy
- Real & Personal property/Bailment
At the end of this course, students will be able to:
- Understand the nature and sources of American law
- Discuss several types of contracts, including what constitutes a contract, and define the terms: offer, acceptance, consideration, and capacity
- Know how agency relationships are formed and the duties of agents and principals and how each may be liable to third parties
- Differentiate between real and personal property and the problems posed by ownership, bailments, and transfer of each
- Differentiate between sole-proprietorships, partnerships and corporations and the advantages, disadvantages and special properties of each
- Explain the nature of negotiable instruments, their benefits and requirements
- Discuss various parts of the four basic types of bankruptcies