Posted: September 13th, 2017

prepare one current event summaries (each must include ½ page summary + ½ page analysis of its relevance to business law).

prepare one current event summaries (each must include ½ page summary + ½ page analysis of its relevance to business law).

Chapter 1

THE NATURE AND SOURCES OF LAW

1.    What is the nature of law and legal rights?

2.    What are the sources of law?

3.    What are the roles of uniform laws?

4.    What are the classifications of law?

CHAPTER OUTLINE

I.    What is the Nature of Law and Legal Rights?

A.    Legal rights are part of the law – principles that govern conduct and can be enforced in courts or by administrative agencies

B.    Individual rights

1.    Freedom of speech

2.    Right to due process

3.    Duties accompany rights

C.    The right of privacy

1.    An example of a legal right developed by courts

2.    Provides protections against unreasonable searches and seizures

D.    Privacy and technology

1.    New rules are needed as technology evolves

2.    E-mail, EDI

3.    Some criminal sanctions

II.    Sources of Law

A.    Constitutional law (federal and state)

B.    Statutory law (federal and state)

C.    Administrative regulations

D.    Court decisions or case law:  historical development, precedent, stare decisis, common law; how to locate

III.    What are the Roles of Uniform Laws?

A.    Uniform state laws

1.    Written generally

2.    Adopted on a state-by-state basis

IV.    What are the Classifications of Law?

A.    Substantive – consider this to be the “what” of the law.  What exactly your rights are in a given situation.
B.    Procedural – consider this to be the “how” of the law.  If your rights are violated, then how do you go about seeking recovery of damages.

Notes for Chapter 2

The Court System and Dispute Resolution

I.    Courts – Groups established by the Government to hear cases, provide remedies, and prevent future wrong doings.
A.    Jurisdiction – every court is given authority to decide certain cases by Jurisdiction.
1.    Subject Matter Jurisdiction. Ex:  Federal issues V State issues
2.    Limited/Special Jurisdiction. Ex:  Tax Court
3.    Appellate Jurisdiction – reviews the work of a lower Court and can do 1 of 2 things:
a.    Affirm previous Decision
b.    Reverse Previous Decision
B.    Court Structure – state and federal have 3 levels which are:
1.    Trial Court – where a person initially files, if unhappy with the verdict you can go to step 2
2.    Appellate Court – they can affirm or reverse a decision.  If still unhappy with the decision you can try to go to step 3
3.    Supreme Court
II.    Court Procedures
A.    Initial Steps
1.    Plaintiff Files a Complaint
2.    Served to Defendant
3.    Defendants Answer with:
a.    Motion to Dismiss
b.    Deny
c.    Counter Claim
d.    Admit
4.    Discovery Using:
a.    Deposition
b.    Interrogatories
c.    Request for production of Documents
5.    Motion for Summary Judgment – if no factual issues
B.    The Trial:
1.    Jury Selection
2.    Opening Statements
3.    Plaintiff’s Case
4.    Motion for Direct Verdict
5.    Defendants Case
6.    Summation
7.    Jury Instructions
8.    Jury Verdict or Mistrial
9.    Motion for New Trial or Judgment
III.    Alternative Dispute Resolution ADR
A.    Arbitration – disputes settled by 3rd party and are usually binding.
B.    Mediation – 3rd parties that tries to help both sides come to an agreement.  Not binding.

Notes from Chapter 3

Business Ethics, Social Forces, and the Law

I.    Business Ethics – is the application of Values and Standards in business conduct and decisions.

A.    These Values originate in various sources:
1.    From Positive (Codified) Law.  Ex:  Slavery was ok at the time
2.    From Natural Law.  Ex:  Slavery is not ok because it goes against individual freedom.
3.    Stakeholder Values.  Ex:  Decision maker should do a stakeholder analysis and say to themselves am I doing the right thing and is it defensible in court.
B.    Civil Disobedience – occurs when Natural Law proponents violate Positive Law
C.    Situational Ethics – examining of a moral relativism, circumstances, and motivation before declaring something right or wrong.
Moral Relativism – Ex:  Stealing a loaf of bread to feed a starving child.

II.    Business Ethics is important to have:

A.    Trust – a critical component of good business relationships and of free enterprise.
B.    Values – Companies with values will enjoy an additional competitive advantage of a good reputation and over long term better earnings.

III.    A.    When Business’s make decisions that violate basic ethical standards it results in
complaints from:
1.    Employees
2.    Investors
3.    Customers
It results in Laws or Regulations issued to change the Behavior.
Ex:  Nutrition facts on Food
B.    Categories of Ethical Behavior are:
1.    Integrity and Truthfulness
2.    Promise Keeping
3.    Loyalty
4.    Fairness
5.    Doing No Harm
6.    Maintaining Confidentiality
C.    Models have been set up to assist in resolution for ethical behavior such as:
1.    Blanchard and Peale Three-Part Test
2.    The Front-Page-of-the-Newspaper Test
3.    Laura Nash Model
4.    Wall Street Journal Model

Chapter 4
The Constitution as the Foundation of the Legal Environment

I. The U.S. Constitution and the Federal System
A. Constitution-written document that establishes the structure of government and its relationship to the people
B. Federal System-central government has control over national matters; state handles state issues
C. Branches of U.S. government
1. Legislative (Congress)
2. Executive (President)
3. Judicial (Courts)

II. The U.S. Constitution and the States
A. Delegated and Shared Powers
1. Delegated Powers-given to states by national government
2. Shared Powers-both national and state governments share certain powers
B. Other Powers
1. State Police Power-protect health, safety, welfare and morals of people
2. Prohibited Powers-both national and state governments are prohibited from
doing certain things
C. Federal Supremacy
1. Express Federal Regulation-federal law is ultimate authority
2. Silence of Congress-if Congress is silent about a subject, does not give states
jurisdiction over it
3. Federal Deregulation-if the national government deregulates, states may not
impose own regulations

III. Interpreting and Amending the Constitution
A. Conflicting Theories
1. Strict Interpretation-bedrock theory
2. Loose Interpretation-living-document theory
B. Amending the Constitution (how)
1. Constitutional Method (passing an amendment)
2. Amendment by Judicial Interpretation
3. Amendment by Practice
C. Living-Constitution view
1. Strong Government
2. Strong President
3. Greater power of Federal Government versus State Government
4. Administrative Agencies

IV. Federal Powers
A. Regulate Commerce
1. Interstate
2. Must relate to economic activity
3. Limits states’ power
B. Financial
1. Tax
2. Borrow money
3. Spend money
4. Mint money

V. Constitutional Limits on Government
A. Due Process
B. Equal Protection of the Law
C. Privileges and Immunities (every citizen entitled to rights of every state)
D. Protection of the Person (new)
1. Privacy
2. Marry person of choice
3. Protection from unreasonable zoning
4. Protection of parental control
5. Protection of discrimination because of poverty
6. Protection from gender discrimination
E. Businesses enjoy the same rights as Individuals