the-legal-environment-and-business-law-v1.0

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Unformatted text preview: The Legal Environment and Business Law v. 1.0 This is the book The Legal Environment and Business Law (v. 1.0). This book is licensed under a Creative Commons by-nc-sa 3.0 (http://creativecommons.org/licenses/by-nc-sa/ 3.0/) license. See the license for more details, but that basically means you can share this book as long as you credit the author (but see below), don't make money from it, and do make it available to everyone else under the same terms. This book was accessible as of December 29, 2012, and it was downloaded then by Andy Schmitz (http://lardbucket.org) in an effort to preserve the availability of this book. Normally, the author and publisher would be credited here. However, the publisher has asked for the customary Creative Commons attribution to the original publisher, authors, title, and book URI to be removed. Additionally, per the publisher's request, their name has been removed in some passages. More information is available on this project's attribution page (http://2012books.lardbucket.org/attribution.html?utm_source=header). For more information on the source of this book, or why it is available for free, please see the project's home page (http://2012books.lardbucket.org/). You can browse or download additional books there. ii Table of Contents About the Authors................................................................................................................. 1 Acknowledgments................................................................................................................. 5 Preface..................................................................................................................................... 6 Chapter 1: Introduction to Law and Legal Systems ....................................................... 8 What Is Law?................................................................................................................................................... 9 Schools of Legal Thought ............................................................................................................................ 11 Basic Concepts and Categories of US Positive Law ................................................................................... 17 Sources of Law and Their Priority.............................................................................................................. 23 Legal and Political Systems of the World .................................................................................................. 32 A Sample Case............................................................................................................................................... 34 Summary and Exercises .............................................................................................................................. 40 Chapter 2: Corporate Social Responsibility and Business Ethics ............................. 44 What Is Ethics? ............................................................................................................................................. 46 Major Ethical Perspectives.......................................................................................................................... 52 An Ethical Decision Model........................................................................................................................... 63 Corporations and Corporate Governance.................................................................................................. 66 Summary and Exercises .............................................................................................................................. 78 Chapter 3: Courts and the Legal Process ....................................................................... 83 The Relationship between State and Federal Court Systems in the United States ...............................85 The Problem of Jurisdiction ........................................................................................................................ 92 Motions and Discovery .............................................................................................................................. 111 The Pretrial and Trial Phase ..................................................................................................................... 114 Judgment, Appeal, and Execution ............................................................................................................ 120 When Can Someone Bring a Lawsuit?...................................................................................................... 124 Relations with Lawyers.............................................................................................................................. 127 Alternative Means of Resolving Disputes ................................................................................................ 130 Cases ............................................................................................................................................................ 133 iii Chapter 4: Constitutional Law and US Commerce ..................................................... 141 Basic Aspects of the US Constitution ....................................................................................................... 142 The Commerce Clause ............................................................................................................................... 147 Dormant Commerce Clause....................................................................................................................... 154 Preemption: The Supremacy Clause ........................................................................................................ 159 Business and the Bill of Rights.................................................................................................................. 163 Cases ............................................................................................................................................................ 173 Summary and Exercises ............................................................................................................................ 195 Chapter 5: Administrative Law ...................................................................................... 200 Administrative Agencies: Their Structure and Powers ......................................................................... 201 Controlling Administrative Agencies....................................................................................................... 209 The Administrative Procedure Act .......................................................................................................... 212 Administrative Burdens on Business Operations ................................................................................... 215 The Scope of Judicial Review .................................................................................................................... 219 Cases ............................................................................................................................................................ 224 Summary and Exercises ............................................................................................................................ 231 Chapter 6: Criminal Law .................................................................................................. 236 The Nature of Criminal Law ...................................................................................................................... 237 Types of Crimes .......................................................................................................................................... 240 The Nature of a Criminal Act .................................................................................................................... 250 Responsibility ............................................................................................................................................. 254 Procedure.................................................................................................................................................... 257 Constitutional Rights of the Accused....................................................................................................... 260 Cases ............................................................................................................................................................ 264 Summary and Exercises ............................................................................................................................ 271 Chapter 7: Introduction to Tort Law............................................................................. 276 Purpose of Tort Laws ................................................................................................................................. 277 Intentional Torts ........................................................................................................................................ 283 Negligence .................................................................................................................................................. 292 Strict Liability............................................................................................................................................. 300 Cases ............................................................................................................................................................ 304 Summary and Exercises ............................................................................................................................ 316 Chapter 8: Introduction to Contract Law..................................................................... 320 General Perspectives on Contracts .......................................................................................................... 321 Sources of Contract Law ............................................................................................................................ 325 Basic Taxonomy of Contracts ................................................................................................................... 330 Cases ............................................................................................................................................................ 336 Summary and Exercises ............................................................................................................................ 345 iv Chapter 9: The Agreement .............................................................................................. 351 The Agreement in General ........................................................................................................................ 352 The Offer ..................................................................................................................................................... 355 The Acceptance .......................................................................................................................................... 366 Cases ............................................................................................................................................................ 372 Summary and Exercises ............................................................................................................................ 380 Chapter 10: Real Assent ................................................................................................... 386 Duress and Undue Influence ..................................................................................................................... 387 Misrepresentation...................................................................................................................................... 391 Mistake........................................................................................................................................................ 400 Capacity....................................................................................................................................................... 403 Cases ............................................................................................................................................................ 409 Summary and Exercises ............................................................................................................................ 420 Chapter 11: Consideration .............................................................................................. 426 General Perspectives on Consideration ................................................................................................... 427 Legal Sufficiency ........................................................................................................................................ 430 Promises Enforceable without Consideration......................................................................................... 439 Cases ............................................................................................................................................................ 445 Summary and Exercises ............................................................................................................................ 453 Chapter 12: Legality.......................................................................................................... 459 General Perspectives on Illegality............................................................................................................ 460 Agreements in Violation of Statute ......................................................................................................... 463 Bargains Made Illegal by Common Law ................................................................................................... 468 Effect of Illegality and Exceptions............................................................................................................ 474 Cases ............................................................................................................................................................ 477 Summary and Exercises ............................................................................................................................ 486 Chapter 13: Form and Meaning ..................................................................................... 492 The Statute of Frauds ................................................................................................................................ 493 The Parol Evidence Rule............................................................................................................................ 505 Interpretation of Agreements: Practicalities versus Legalities ............................................................ 510 Cases ............................................................................................................................................................ 514 Summary and Exercises ............................................................................................................................ 522 v Chapter 14: Third-Party Rights ..................................................................................... 527 Assignment of Contract Rights ................................................................................................................. 528 Delegation of Duties................................................................................................................................... 536 Third-Party Beneficiaries.......................................................................................................................... 540 Cases ............................................................................................................................................................ 544 Summary and Exercises ............................................................................................................................ 553 Chapter 15: Discharge of Obligations ........................................................................... 559 Discharge of Contract Duties .................................................................................................................... 560 Cases ............................................................................................................................................................ 577 Summary and Exercises ............................................................................................................................ 586 Chapter 16: Remedies....................................................................................................... 592 Theory of Contract Remedies ................................................................................................................... 593 Promisee’s Interests Protected by Contract............................................................................................ 595 Legal Remedies: Damages.......................................................................................................................... 597 Equitable Remedies.................................................................................................................................... 602 Limitations on Contract Remedies ........................................................................................................... 607 Cases ............................................................................................................................................................ 616 Summary and Exercises ............................................................................................................................ 628 Chapter 17: Introduction to Sales and Leases............................................................. 634 Commercial Transactions: the Uniform Commercial Code ................................................................... 635 Introduction to Sales and Lease Law, and the Convention on Contracts for the International Sale of Goods ........................................................................................................................................................... 639 Sales Law Compared with Common-Law Contracts and the CISG ........................................................ 645 General Obligations under UCC Article 2 ................................................................................................ 650 Cases ............................................................................................................................................................ 655 Summary and Exercises ............................................................................................................................ 668 Chapter 18: Title and Risk of Loss ................................................................................. 673 Transfer of Title ......................................................................................................................................... 674 Title from Nonowners ............................................................................................................................... 681 Risk of Loss.................................................................................................................................................. 687 Cases ........................................................................................................................
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