The Legal Environment: Essentials for the Successful Professional

by ADAMSON

• ISBN13: 9780538726146
• ISBN10: 0538726148
• Edition: 1st
• Format: Paperback
• Copyright: 2002-05-20
• Publisher: South-Western Educational Pub

Summary

Law for Business and Personal Use 15E maintains a fundamental emphasis on business law, while introducing personal law topics that interest students. Give your students the most comprehensive coverage of contracts, ethics, employment law, credit, banking, partnerships, bankruptcy, and more.

Author Biography

John Adamson is an Assistant Professor of Business and Law at Southwest Missouri State University.

Table of Contents

Part 1 The Essentials of Legal Survival: Foundations of the Law	2	(68)
How the Legal System Developed	4	(10)
What is the Law?	4	(1)
Why Study the Law	5	(1)
Development of U.S. Laws and Legal System	6	(3)
Ethics and the Growth of Law	9	(2)
Jurisprudence	11	(1)
Technology Insights: Napster	11	(3)
How Laws Are Made	14	(7)
Where Does the Power to Make Laws Come From?	14	(2)
How Is the Lawmaking Power Exercised and Applied?	16	(2)
Laws Made by Administrative Agencies	18	(3)
The Federal Legal System	21	(8)
Powers of the Federal Courts	21	(4)
Court Review of Agency Decisions	25	(4)
State and Local Legal Systems	29	(7)
Powers of the State Courts with General Jurisdiction	29	(3)
Functions of the Specialized State Courts	32	(4)
Criminal Law	36	(16)
How Are Crimes Defined?	36	(3)
Stages of Criminal Procedure	39	(3)
Constitutional Protections and Defenses for Suspects of Crimes	42	(4)
Crimes That Affect Businesses	46	(6)
Civil Law	52	(18)
What Is a Tort?	52	(3)
What Kinds of Conduct Bring on Tort Liability?	55	(9)
Court Procedure for Resolving Tort and Other Civil Cases	64	(6)
Part 2 Survival Skills for Dealing with Contracts	70	(64)
Legally Enforceable Contracts	72	(8)
What is a Contracts?	72	(1)
Useful Terms for Working with Contracts	73	(3)
Elements of a Legally Enforceable Contract	76	(1)
Technology Insights: Computer-Generated Simulations	77	(3)
Valid Agreements	80	(9)
How Do You Determine Whether an Offer is Valid?	80	(9)
Capacity to Contract	89	(11)
Contractual Capacity	89	(4)
Genuineness of Assent	93	(7)
Contractual Consideration	100	(9)
What Is the Legal Definition of Consideration?	101	(1)
What Does the Law Hold to Be Legally Binding Consideration?	102	(2)
Exceptions to the Rule Requiring Consideration for Binding Promises	104	(5)
Statutory Requirements for Contracts	109	(12)
Valid and Enforceable Oral Contracts	109	(3)
Contracts That Must Be in Writing	112	(4)
Contracts Unenforceable Because of Improper Objectives	116	(5)
Discharge of Contractual Obligations	121	(13)
Rendering Contractual Performance	121	(5)
Discharge of Contractual Obligations	126	(4)
Breach of Contract	130	(4)
Part 3 The Law of Sales	134	(40)
The Uniform Commercial Code	136	(7)
Origin and Significance of the Uniform Commercial Code (UCC)	136	(1)
Relationship between the Law of Sales and the Law of Contracts	137	(1)
Crucial Terms in Applying the Law of Sales	138	(5)
Requirements of a Valid Sales Contract	143	(11)
Proper Form for Sales Contracts	143	(3)
The UCC, the Law of Contracts, and Sales Situations	146	(5)
Special Rules for Bulk Transfers and Auction Sales	151	(3)
Ownership of Goods	154	(9)
Ownership of Goods	154	(2)
Title, Risk of Loss, and Insurable Interest in Sales Transactions	156	(4)
``Sale on Approval'' and ``Sale or Return'' Deals	160	(1)
Technology Insights: High Tech Gadgets and the Law of Sales	161	(2)
Breaches of Sales Contracts	163	(11)
Warranties in Sales Transactions	163	(5)
Recovering for Breach of Warranty and Product Liability Law	168	(3)
Remedies for Breach of the Sales Contract	171	(3)
Part 4 Checks, Notes, Drafts, and Other Negotiable Instruments	174	(48)
Nature and Use of Negotiable Instruments	176	(12)
What Are Negotiable Instruments?	177	(1)
Negotiable Instruments and Their Uses	177	(9)
Risks in Using Negotiable Instruments	186	(2)
UCC Protection for Negotiable Instruments	188	(9)
Reducing the Risks of Using Negotiable Instruments	188	(4)
Determining Which Instruments Are Negotiable	192	(5)
Acquiring and Transferring Negotiable Instruments	197	(13)
How Are Negotiable Instruments Negotiated?	197	(6)
How a Holder in Due Course Overcomes the Defenses of the Obligor	203	(4)
Warranties Flowing from Negotiable Instruments	207	(1)
Technology Insights: Counterfeiting in the Digital Era	208	(2)
Discharge of Negotiable Instruments	210	(12)
Discharging Negotiable Instruments	210	(4)
Financial Institutions and Negotiable Instruments	214	(8)
Part 5 Protecting Yourself in Debtor-Creditor Relationships	222	(36)
Taking Security for a Debt Under the UCC	224	(11)
Collecting on Debts	224	(3)
Obtaining the Protection of a Security Interest	227	(3)
Strength of Security Interest Protection	230	(5)
Debtor and Creditor Protections Outside the UCC	235	(10)
Protections for Lienholders	235	(5)
Protections for Debtors	240	(3)
Technology Insights: Facial Mapping, Thermography, and You	243	(2)
Bankruptcy Laws	245	(13)
Bankruptcy as an Alternative to Remaining in Debt	245	(1)
Protections Provided by the Bankruptcy Code	246	(3)
Procedure for Chapter 7 Liquidation	249	(9)
Part 6 Selecting an Organizational Form for Your Business	258	(58)
Forms of Business Organization	260	(8)
Forms of Business Organizations	260	(5)
Sole Proprietorships	265	(3)
Partnerships	268	(11)
Advantages and Disadvantages of General Partnerships	268	(1)
Creating a General Partnership	269	(4)
Operating a Partnership	273	(2)
Ending a Partnership	275	(2)
Technology Insights: Medical Technology and the Law of Business Forms	277	(2)
Corporations	279	(12)
When Is the Corporate Form Optimal?	279	(1)
Steps in Forming a Corporation	279	(5)
Legal Considerations in Corporate Management	284	(7)
Specialized Small Business Forms plus Securities and Antitrust Laws	291	(25)
Small Business Organization	291	(6)
Laws Controlling Business Financing	297	(2)
Securities Exempt from SEC Registration	299	(3)
Laws Governing Securities Trading	302	(3)
Antitrust Laws and Their Effects on Business	305	(1)
Common Potential Antitrust Violations	306	(10)
Part 7 Earning and Keeping Your Money and Other Property	316	(44)
Creating, Running, and Ending Agencies	318	(9)
What Is an Agency?	318	(3)
Duties of Agents and Principals	321	(2)
Principals' and Agents' Liability to Third Parties	323	(4)
Employer/Employee Do's and Don'ts	327	(13)
Employment Differs from Similar Relationships	327	(1)
Basic Duties of Employers and Employees	328	(3)
Terminating Employment Contracts	331	(9)
Holding On to Your Property	340	(20)
What Is Property?	340	(3)
Acquiring Personal Property	343	(8)
Acquiring Real Property	351	(6)
Legal Forms of Property Ownership	357	(1)
Technology Insights: Stem Cell Research and Property Law	358	(2)
Part 8 Decreasing the Risks of Life	360	(31)
What Can Be Insured?	362	(9)
What Is Insurance, and Why Is It Necessary?	362	(2)
Basic Types of Insurance	364	(2)
Insurance Contracts	366	(3)
Technology Insights: Surveillance Cameras and Workers' Compensation Insurance	369	(2)
Life and Social Insurance	371	(9)
Life and Social Insurance Protections	371	(1)
Terms in a Typical Life Insurance Policy	372	(2)
Types of Life Insurance Policies	374	(2)
Social Insurance	376	(4)
Property, Casualty, and Auto Insurance	380	(11)
Protection Offered by Property and Casualty Insurance	380	(1)
Fire Insurance	380	(4)
Marine and Inland Marine Insurance	384	(1)
Liability Insurance	384	(1)
Typical Automobile Insurance	385	(6)
Glossary	391	(25)
Index	416