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Cengage Advantage Books: Law for Business



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South-Western College/West
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    Cengage Advantage Books: Law for Business
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LAW FOR BUSINESS offers a practical approach to law that emphasizes current, relevant topics you need to succeed in contemporary business. Cases throughout the text highlight issues such as trademark infringement, computer tampering, pollution, agency, and employment-at-will. Plus, timely coverage of business ethics and the law gives you new insight into recent corporate scandals and indictments. Ashcroft and Ashcroft use short chapters, a four-color design, real-world examples and applications, and integrated learning objectives to make business law approachable and engaging for all students.

Table of Contents

Prefacep. ix
The Legal System and the Legal Environment of Businessp. 1
Introduction to Lawp. 2
Objectives of Lawp. 3
Roots of Our Legal Systemp. 3
The Common Lawp. 3
Equityp. 3
Sources of Lawp. 4
Civil versus Criminal Lawp. 6
Tort Lawp. 7
Ethicsp. 8
Questionsp. 10
Courts and Court Procedurep. 11
Function of the Courtsp. 11
Jurisdiction of Courtsp. 12
Classification of Courtsp. 12
Court Officersp. 17
Procedure in Courts of Recordp. 18
Procedure in Small Claims Courtp. 19
Questionsp. 20
Business Torts and Crimesp. 21
Tortsp. 21
Crimesp. 27
Types of Business Crimesp. 27
Questionsp. 33
Case Problemsp. 34
Government Regulation of Businessp. 37
Purpose of Regulationp. 38
Administrative Agenciesp. 38
Antitrustp. 40
Environmental Protectionp. 41
Questionsp. 44
Contractsp. 45
Nature and Classes of Contractsp. 46
Requirements for a Contractp. 47
Contracts Contrasted with Agreementsp. 47
Classification of Contractsp. 48
Questionsp. 52
Case Problemsp. 53
Offer and Acceptancep. 55
Requirements of a Valid Offerp. 56
Invitations to Make Offersp. 57
Duration of the Offerp. 59
The Acceptancep. 60
Counteroffersp. 61
Inquiries Not Constituting Rejectionp. 62
Manner of Acceptancep. 62
Questionsp. 63
Case Problemsp. 63
Capacity to Contractp. 65
Minorsp. 66
Mentally Incompetent Personsp. 69
Intoxicated Personsp. 71
Convictsp. 71
Questionsp. 71
Case Problemsp. 72
Considerationp. 74
Nature of Considerationp. 74
Adequacy of Considerationp. 75
Exceptions to Requirement of Considerationp. 79
Questionsp. 80
Case Problemsp. 81
Defective Agreementsp. 83
Mistakesp. 83
Mistakes That Invalidate Contractsp. 84
Mistakes That Do Not Invalidate Contractsp. 86
Fraudp. 88
Duressp. 90
Undue Influencep. 91
Remedies for Breach of Contract Because of Fraud, Duress, or Undue Influencep. 92
Questionsp. 93
Case Problemsp. 94
Illegal Agreementsp. 96
Contracts Prohibited by Statutep. 97
Contracts Contrary to Public Policyp. 102
Questionsp. 103
Case Problemsp. 104
Written Contractsp. 106
Reasons for Written Contractsp. 106
Statute of Fraudsp. 107
Note Or Memorandump. 110
Other Written Contractsp. 111
Parol Evidence Rulep. 112
Questionsp. 112
Case Problemsp. 113
Third Parties and Contractsp. 115
Involving a Third Partyp. 115
Technicalities of an Assignmentp. 119
Joint, Several, and Joint and Several Contractsp. 121
Questionsp. 123
Case Problemsp. 123
Termination of Contractsp. 125
Methods by Which Contracts Are Terminatedp. 125
Remedies for Breach of Contractp. 131
Malpracticep. 133
Questionsp. 134
Case Problemsp. 134
Summary Casesp. 137
Personal Propertyp. 141
Nature of Personal Propertyp. 142
Personal Propertyp. 142
Methods of Acquiring Personal Propertyp. 144
Bailmentsp. 147
The Bailment Agreementp. 148
Delivery and Acceptancep. 148
Return of the Bailed Propertyp. 149
Types of Bailmentsp. 149
Conversion of Bailed Property by the Baileep. 151
Questionsp. 152
Case Problemsp. 152
Special Bailmentsp. 155
Carriersp. 155
Liability of Common Carriers of Goodsp. 157
Hotelkeepersp. 163
Questionsp. 166
Case Problemsp. 166
Summary Casesp. 169
Salesp. 171
Sales of Personal Propertyp. 172
Property Subject to Salep. 172
Sales and Contracts to Sellp. 173
Sales of Goods and Contracts for Servicesp. 174
Pricep. 174
Existing Goodsp. 175
Future Goodsp. 175
Bill of Salep. 176
Illegal Salesp. 177
International Sales Contractsp. 177
Questionsp. 178
Case Problemsp. 178
Formalities of a Salep. 180
Multiple Purchases and the Statute of Fraudsp. 181
When Proof of Oral Contract Is Permittedp. 181
Nature of the Writing Requiredp. 183
Questionsp. 185
Case Problemsp. 185
Transfer of Title and Risk in Sales Contractsp. 187
Potential Problems in Sales Transactionsp. 188
Classification of Sales Transactionsp. 188
Ownership, Insurable Interests, and Risk of Loss in Particular Transactionsp. 189
Damage to Or Destruction of Goodsp. 192
Sales on Approval and with Right to Returnp. 193
Special Rules on Transfer of Titlep. 194
Questionsp. 197
Case Problemsp. 198
Warranties, Product Liability, and Consumer Protectionp. 200
Express Warrantiesp. 201
Implied Warrantiesp. 202
Full Or Limited Warrantiesp. 202
Warranties of All Sellersp. 202
Additional Warranties of Merchantp. 204
Warranties in Particular Salesp. 206
Exclusion and Surrender of Warrantiesp. 207
Product Liabilityp. 209
Identity of Partiesp. 211
Nature and Cause of Harmp. 211
Consumer Protectionp. 212
Questionsp. 218
Case Problemsp. 218
Summary Casesp. 221
Negotiable Instrumentsp. 223
Nature of Negotiable Instrumentsp. 224
History and Developmentp. 224
Negotiationp. 225
Order Paper and Bearer Paperp. 225
Classification of Commercial Paperp. 226
Parties to Negotiable Instrumentsp. 227
Negotiation and Assignmentp. 229
Credit and Collectionp. 230
Electronic Fund Transfersp. 230
Questionsp. 231
Case Problemsp. 232
Essentials of Negotiabilityp. 234
Requirementsp. 234
Issue and Deliveryp. 239
Delivery of an Incomplete Instrumentp. 239
Dare and Placep. 240
Questionsp. 241
Case Problemsp. 241
Promissory Notes and Draftsp. 243
Notesp. 243
Draftsp. 245
Checksp. 248
Questionsp. 253
Case Problemsp. 254
Negotiation and Dischargep. 256
Place of Indorsementp. 257
Multiple Payeesp. 258
Kinds of Indorsementsp. 259
Liability of Indorserp. 261
Obligation of Negotiator of Bearer Paperp. 261
Discharge of the Obligationp. 262
Questionsp. 262
Case Problemsp. 263
Liabilities of Parties and Holders in Due Coursep. 265
Liability for the Face of the Paperp. 267
Liability for Warrantiesp. 271
Holders in Due Coursep. 272
Holder Through a Holder in Due Coursep. 274
Holders of Consumer Paperp. 274
Questionsp. 276
Case Problemsp. 276
Defensesp. 279
Classification of Defensesp. 280
Miscellaneous Mattersp. 284
Questionsp. 284
Case Problemsp. 285
Summary Casesp. 287
Agency and Employmentp. 291
Nature and Creation of an Agencyp. 292
Importance of Agencyp. 293
What Powers May be Delegated to an Agent?p. 293
Who May Appoint an Agent?p. 293
Who May Act as an Agent?p. 294
Classification of Agentsp. 294
Additional Types of Agentsp. 295
Extent of Authorityp. 295
Creation of an Agencyp. 297
Other Employment Relationshipsp. 299
Questionsp. 300
Case Problemsp. 300
Operation and Termination of an Agencyp. 303
Agent's Duties to Principalp. 303
Principal's Duties to Agentp. 305
Agent's Liabilities to Third Partiesp. 307
Principal's Duties and Liabilities to Third Partiesp. 308
Termination of an Agency by Acts of the Partiesp. 308
Termination by Operation of Lawp. 309
Notice of Terminationp. 310
Questionsp. 311
Case Problemsp. 311
Employer and Employee Relationsp. 314
Creation of Employer and Employee Relationshipp. 315
Duties and Liabilities of the Employerp. 316
Common-law Defenses of the Employerp. 317
Statutory Modification of Common Lawp. 317
Liabilities of the Employer to Third Partiesp. 319
Employee's Duties to the Employerp. 320
Federal Social Security Actp. 321
Questionsp. 323
Case Problemsp. 323
Employees' Rightsp. 325
Discriminationp. 326
Testingp. 332
Protectionsp. 334
Other Sources of Rightsp. 336
Questionsp. 337
Case Problemsp. 337
Labor Legislationp. 340
The Fair Labor Standards Actp. 341
The National Labor Relations Act and the Labor Management Relations Actp. 342
The Labor-Management Reporting and Disclosure Actp. 345
Questionsp. 347
Case Problemsp. 347
Summary Casesp. 350
Business Organizationp. 353
Introduction to Business Organizationp. 354
Sole Proprietorshipp. 354
Partnershipp. 357
Corporationsp. 360
Questionsp. 363
Case Problemsp. 363
Creation and Operation of a Partnershipp. 365
Partnership Agreementsp. 365
Partnership Firm Namep. 367
Partner's Interest in Partnership Propertyp. 368
Duties of Partnersp. 368
Rights of Partnersp. 370
Liabilities of Partnersp. 372
Nature of Partnership Liabilitiesp. 373
Authority of a Partnerp. 374
Sharing of Profits and Lossesp. 374
Questionsp. 374
Case Problemsp. 375
Dissolution of a Partnershipp. 378
Dissolution by Acts of the Partiesp. 379
Dissolution by Court Decreep. 380
Dissolution by Operation of Lawp. 381
Effects of Dissolutionp. 382
Notice of Dissolutionp. 383
Distribution of Assetsp. 383
Questionsp. 384
Case Problemsp. 384
Nature of a Corporationp. 387
Classification by Purposep. 387
Classification by State of Incorporationp. 389
Formation of a Corporationp. 389
Liability on Promoter's Contracts and Expensesp. 389
Issuance of Stockp. 390
Articles of Incorporationp. 391
Powers of a Corporationp. 391
Ultra Vires Contractsp. 392
Questionsp. 393
Case Problemsp. 393
Ownership of a Corporationp. 395
Ownershipp. 396
Stock Certificatep. 396
Transfer of Stockp. 396
Classes of Stockp. 397
Kinds of Stockp. 398
Stock Optionsp. 400
Dividendsp. 400
Laws Regulating Stock Salesp. 401
Questionsp. 403
Case Problemsp. 403
Management and Dissolution of a Corporationp. 405
Stockholders' Meetingsp. 406
Rights of Stockholdersp. 409
Directorsp. 410
Officersp. 411
Liabilities of Directors and Officersp. 412
Corporate Combinationsp. 413
Dissolutionp. 414
Questionsp. 414
Case Problemsp. 414
Summary Casesp. 417
Risk-Bearing Devicesp. 421
Principles of Insurancep. 422
Terms Used in Insurancep. 423
Types of Insurance Companiesp. 424
Who May be Insuredp. 424
Some Legal Aspects of the Insurance Contractp. 426
Questionsp. 429
Case Problemsp. 430
Types of Insurancep. 432
Life Insurancep. 432
Property Insurancep. 436
Description of the Propertyp. 438
Coinsurancep. 438
Repairs and Replacementsp. 439
Defense and Notice of Lawsuitsp. 439
Automobile Insurancep. 440
Questionsp. 444
Case Problemsp. 444
Security Devicesp. 446
Guaranty and Suretyshipp. 446
Secured Credit Salesp. 451
Effect of Defaultp. 453
Questionsp. 454
Case Problemsp. 455
Bankruptcyp. 457
Who Can File a Petition of Bankruptcy?p. 458
Kinds of Debtorsp. 458
Required Counsellingp. 459
Procedure in a Chapter 7 Casep. 459
Nonliquidation Plansp. 459
Eligibility Restrictions for Chapter 7p. 460
Exempt Propertyp. 461
Included Propertyp. 461
Debtor's Duties During Bankruptcyp. 461
Proof of Claimsp. 462
Reclamationsp. 462
Types of Claimsp. 462
Priority of Claimsp. 463
Discharge of Indebtednessp. 463
Debts not Dischargedp. 463
Questionsp. 464
Case Problemsp. 464
Summary Casesp. 466
Real Propertyp. 469
Nature of Real Propertyp. 470
Distinguishing Real Propertyp. 470
Multiple Ownershipp. 472
Estates in Propertyp. 474
Other Interests in Real Propertyp. 475
Acquiring Real Propertyp. 477
Questionsp. 478
Case Problemsp. 478
Transfer of Real Propertyp. 480
Deedsp. 480
Provisions in a Deedp. 483
Deliveryp. 485
Recordingp. 485
Abstract of Titlep. 486
Title Insurancep. 486
Questionsp. 486
Case Problemsp. 486
Real Estate Mortgagesp. 489
The Mortgage Contractp. 490
Recordingp. 490
Duties of the Mortgagorp. 492
Rights of the Mortgagorp. 493
Foreclosurep. 495
Assignment of the Mortgagep. 496
Deed of Trustp. 496
Mortgage Insurancep. 497
Questionsp. 497
Case Problemsp. 498
Landlord and Tenantp. 500
The Leasep. 503
Types of Tenanciesp. 503
Rights of the Tenantp. 505
Duties of the Tenantp. 506
Rights of the Landlordp. 507
Duties of the Landlordp. 507
Termination of the Leasep. 508
Improvementsp. 510
Discriminationp. 511
Questionsp. 511
Case Problemsp. 511
Wills, Inheritances, and Trustsp. 513
Limitations on Disposition of Propertyp. 514
Terms Common to Willsp. 515
Distinguishing Characteristics of a Willp. 515
Formalitiesp. 515
Special Types of Willsp. 516
The Wording of a Willp. 517
Revocationp. 517
Codicilsp. 517
Abatement and Ademptionp. 519
Probate of a Willp. 519
When Administration Is Unnecessaryp. 520
Title by Descentp. 520
Per Capita and Per Stirpes Distributionp. 520
Administratorsp. 522
Trustsp. 522
Questionsp. 525
Case Problemsp. 525
Summary Casesp. 528
Table of Casesp. T1
Glossaryp. G1
Indexp. I1
Table of Contents provided by Ingram. All Rights Reserved.

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