Chapter 1 - An Introduction to Dynamic Business Law
CHAPTER OVERVIEW
Chapter One lays the foundation for the textbook. Make sure you look on the publisher‘s web site for
information about how business law intersects with the six functional areas of business. The authors
encourage students to ...
Solution Manual
Dynamic Business Law, 6th Edition
By Nancy Kubasek
,Chapter 1 - An Introduction to Dynamic Business Law
CHAPTER OVERVIEW
Chapter One lays the foundation for the textbook. Make sure you look on the publisher‘s web site for
information about how business law intersects with the six functional areas of business. The authors
encourage students to ―connect to the core,‖ and remember the ways in which law intersects with other areas
of study, including corporate management, production and transportation, marketing, research and
development, accounting and finance, and human resource management.
This manual supports the ―connecting to the core‖ theme by giving ideas for assignments that encourage
students to integrate their business law knowledge with knowledge they are acquiring from their other
business classes. The manual also encourages professors to improve their teaching skills. Finally, the manual
suggests teaching ideas for both beginning and experienced teachers.
LEARNING OBJECTIVES
After reading this chapter, students will be able to:
1-1 Define business law.
1-2 Relate the functional areas of business to the relevant areas of business law1-
3 Recall the purposes of law.
1-4 Distinguish among types of law.
1-5 Differentiate between sources of the law.
1-6 Identify the various schools of jurisprudence.
LECTURE NOTES WITH DEFINITIONS
In the news… Teaching tip: For each chapter, consider asking students to relate current news
items to material from the chapter.
In addition to ideas students come up with on their own, consider weaving in
news stories provided by the McGraw Hill.
For Chapter One, McGraw Hill offers the following stories:
―Smoking Ban: Tobacco Tyrants: Gone Too Far? Many States Are Putting
Stronger Restrictions on Where You Can Smoke‖
• Have states gone too far in banning smoking?
, • Whose interests are state legislatures looking out for in banning
smoking?
―College Officer Dealings With Lenders Scrutinized.‖
• Should regulators take a more careful look at college officers?
• Why created changes in the ways college officers interact with lenders?
1-1 Define business Business law consists of the enforceable rules of conduct that govern
law. commercial relationships.
1-2 Relate the Business law applies to the six functional areas of business:
functional areas of • Corporate management
business to the
relevant areas of • Production and transportation
business law. • Marketing
• Research and development
• Accounting and finance
• Human resource management
1-3 Recall the • Providing order
purposes of law. • Serving as an alternative to fighting
• Facilitating a sense that change is possible
• Encouraging social justice
• Guaranteeing personal freedoms
• Serving as a moral guide
1-4 Distinguish One way to classify law:
among types of law. Private law involves disputes between private individuals or groups.
Public law involves disputes between private individuals or groups and their
government.
A second way to classify law:
Civil law involves the rights and responsibilities involved in relationshipsbetween
persons and between persons and their government.
Criminal law involves incidents in which someone commits an act against the
public as a unit.
Teaching tip: Ask students to give an example of a fact situation that led to
both criminal and civil lawsuits, e.g., the O.J. Simpson trials.
1-5 Differentiate Sources of business law are:
between sources of 1. Constitutions
the law. Constitutional law refers to the general limits and powers of governments as
stated in their written constitutions.
2. Statutes or legislative actions
3. Cases
Case law (or common law) is the collection of legal interpretations made by
judges.
Stare decisis means courts are relying on precedent.
Teaching tip: The first time your students encounter an appellate case in the
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