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Solution Manual for Business Law and the Legal Environment, Version 2.0

Solution Manual for Business Law and the Legal Environment, Version 2.0 provides key summaries, making it easier to absorb textbook material.

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BUSINESS LAW1Chapter1Introduction to Law and LegalSystems1.What Is Law?•Distinguish different philosophies of law—schools of legal thought—and explaintheir relevance.•Identify the variousaims that a functioning legal system can serve.•Explain how politics and law are related.•Identify the sources of law and which laws have priority over other laws.•Understand some basic differences between the US legal system and other legalsystems.Section Outline•According to Black’s Law Dictionary:oLaw is a body of rules of action or conductthat areprescribed byacontrolling authority, andhave binding legal force.oLaw has to be obeyed and followed by citizens subject to sanctions orlegal consequence.•In a nation law serves to:oKeep the peaceoMaintain the status quooPreserve individual rightsoProtect minorities against majoritiesoPromote social justiceoProvide for orderly social change

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Subject
Business Law
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Business Law And The Legal Environm...

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