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Solution Manual Dynamic Business Law, 6th Edition By Nancy Kubasek

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Unlock the full potential of your business law studies with our comprehensive test bank for "Dynamic Business Law, 6th Edition" by Nancy Kubasek and her co-authors. This invaluable resource covers all the essential topics within the textbook, providing a wide range of meticulously crafted questions...

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  • 8 de diciembre de 2024
  • 331
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  • business law
  • legal principles
  • contracts
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  • cpa exam preparation
  • commercial law
  • business ethics
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  • case studies
  • legal framework
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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
 Production and transportation
relevant areas of
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

, readings, show them what stare decisis looks like in the context of a real case.

4. Administrative law
Administrative law is the collection of rules and decisions made by
administrative agencies.
5. Treaties
A treaty is a binding agreement between two states or international
organizations.
6. Executive orders
An executive order is a directive that comes from the president or stategovernor.

1-6 Identify the Schools of jurisprudence are common guides to legal interpretation.
various schools of  Natural law—certain ethical laws and principles are morally right and
jurisprudence. ―above‖ the laws devised by humans.
 Legal Positivism—assumes the legitimate political authority deserves
our obedience when it issues a rule.
 Identification with the Vulnerable—emphasis on fairness and looking
out for those with the least power.
 Historical School/Tradition—emphasis on the use of stare decisis.
 Legal Realism—judges consider social and economic conditions.
 Cost-benefit Analysis—make calculations to maximize the ratio of
benefits to costs.

Teaching tip: Consider using ―The Case of the Speluncean Explorers (link
below) to make the schools of jurisprudence come alive.
Global and At this point in the textbook, students should merely have an awareness that
Comparative Law globalization has affected the scope of business law. Consequently, we highlight
the definitions to the following key terms that will come up later in the book:

 Trade, i.e. the exchange of goods or services, on a global scale has led to
the creation of trade agreements that serve as de facto rules governing the
global business environment.
 Comparative law—the field of law that studies and compares laws in
different countries.

Appendix on Critical Critical thinking includes the application of evaluative standards to assess the
Thinking and quality or the reasoning being offered to support the conclusion. Critical thinkers
Business will follow this pattern of careful thinking when they read an argument:
1. Find the facts.
2. Look for the issue.
3. Identify the judge‘s reasons and conclusion.
4. Locate in the decision the rules of law that govern the judge‘s reasoning.
5. Apply critical thinking to the reasoning. Evaluate the reasoning.
 Look for potential ambiguity.
 Consider the strength of analogies.

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