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Solution Manual For Business Law Today: The Essentials, 12th Edition

Solution Manual For Business Law Today: The Essentials, 12th Edition provides a roadmap to mastering textbook concepts with ease.

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1Chapter 1Law and Legal ReasoningINTRODUCTIONThe first chapters in Unit 1 provide the background for the entire course. Chapter 1 sets the stage.At thispoint, it is important to establish goals and objectives.For your students tobenefit from this course, they mustunderstand that (1) the law is a set of general rules, (2) that, in applying these general rules, a judge cannot always fita case to suit a rule, so must fit (or find) a rule to suit the case,(3) that, in fitting (or finding) a rule, a judge must alsosupply reasons for the decision.Law consists of enforceable rules governing relationships among individuals and betweenindividuals andtheir society.The tension in the law between the need for stability and theneed for change is one of the conceptsintroduced in this chapter.How common law courts originated, and the rationale for the doctrine ofstare decisisarealso covered in this chapter.Another major concept in the chapter involves the distinctions amongtoday’s sources of law and distinctionsin its different classifications. The sources include the federal constitution and federal laws, state constitutions andstatutes (including the UCC), local ordinances, administrative agencyregulations, and case law.The classificationsinclude substantive and procedural, national and international, public and private, civil andcriminal, and law andequity.These sources and categories give students a framework on which to hang the mass of principles known asthe law.CHAPTEROUTLINEI.Business Activities and the Legal EnvironmentA.MANYDIFFERENTLAWSMAYAFFECT ASINGLEBUSINESSTRANSACTIONVarious areas of the law can affect a business decision (such as whether to enter into a contract).Abusinessperson should know enough about the law to know when to ask for advice.B.LINKINGBUSINESSLAW TO THESIXFUNCTIONALFIELDS OFBUSINESSThe text introduces a feature that appearsin selected chapters, which explainshow legal concepts canbe useful to managers and other businesspersons in any functional field of business—•Corporate management•Production and transportation

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Subject
Business Law
Textbook
Business Law Today by Roger LeRoy M...

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