Agents are important because they help you conduct business. They are used in a variety of
different businesses. For example, if you work in a retail place, you work behind the counter
and take peoples money, youre an agent. If you work at GCSU and
1. Regulation of Business:
Basically focuses on the federal governments role of regulating securities. Securities are usually in
the form of stocks or bonds. The two major rules that dictate how securities are bought and sold in
1. Define and give examples of an unsecured creditor vs. A secured creditor. What is collateral?
I am going to represent a guy in a big case and I say it will be $5,000. The guy has $1,000 and promises
to pay the o
Other Business Laws
Sarbanes-Oxley2002applies to all publicly traded securities-registers public accounting firms,
inspects accounting firms, audit firm must report to audit committee (not CEO) which has at least some
independent members (outside director
1. Contracts are the foundation of all business practices (activity).A contract is an agreement
enforceable at law. Certain agreements are not contracts:
For example after the semester is over Im going to give you pizza, and I dont show up, can
Commercial Paper Handout 1
Merchants extend credit to customers. Commercial paper lets credit become available.
1. Notes vs. drafts
When you buy your car and you promise to pay your car over 16 months with the dealer
then this is a promiss
1.Is Bankruptcy a Federal or State Court procedure-explain.
Bankruptcy is a federal proceeding. Its not a state court proceeding. This is the first topic
weve talked about that is exclusively a federal government situation. You dont declare
1. Sole proprietorshipsingle taxunlimited liabilityno papers filedhave to match
own social security resulting in 15.3% SS tax. Have to buy own medical coverage.
Most common business form in the US. It is the easiest to open and clo
Accountants Legal Responsibility
How do accountants get sued and why? The reason accountants get sued is when they commit fraud.
Lets say youre an investor and youre going to buy stock in a company. The accountant the company
hires to audit their financia
Uniform Commercial CodeSales
The most basic concept in business law is contract law and you got to know sales under the uniform
About 30-40-50 years ago, people in the United States started trading. There is kind of a problem