Chapter 1 Lesson

Chapter 1 Lesson - Chapter 1 Lesson Chapter 1 Lesson...

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Chapter 1 Lesson Chapter 1 Lesson Chapter 1 - Introduction to Law OBJECTIVES: After completing this lesson, the required reading, and the assignments, learners will be able to: 1. Understand the concept of jurisprudence, identify several different theories, and describe how they affect our undestanding of the law. 2. Explain why the study of legal issues is important to business students. 3. Classify the different types of law. 4. Discuss the sources of law and distinguish between statutory, administrative and common law. 5. Read and understand legal cases and answer questions about them. Why Study Legal Issues? Most of you are probably taking this class because it is a requirement for your major. Why do you think this class is a requirement? How will the information you learn in this course be helpful to you after you graduate? Imagine you've just graduated from Boise State and you've decided to open a bicycle sales and repair shop with a good friend. What legal topics would you like to have knowledge about before you begin? What legal issues might arise as you plan and then begin doing business? What type of legal entity should you choose? A partnership? A corporation? A limited liability company (LLC) or a limited liability partnership (LLP)? How do you intend to finance your business? Borrow money? Do you intend to lease or own the real property? Each of these considerations involves a contract. Will you hire employees? Think about some of the legal issues involved in employment law: salaries, overtime, discrimination laws, employment-at-will and exceptions, workers' and unemployment compensation benefits, OSHA - to name a few! What about product liability? What if you sell a bike that isn't manufactured properly? Knowledge about warranties and product liability is extremely important. What will you name your business? Knowledge about trademarks and other intellectual property laws might be helpful. What happens when you sell a bike on credit and don't receive any payments?
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Chapter 1 Lesson - Chapter 1 Lesson Chapter 1 Lesson...

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