Solution Manual for Dynamic Business Law: The Essentials 6th Edition by Nancy Kubasek isbn-9781265599379

Solution Manual
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DynamicBusinessLaw,6thEdition
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ByNancyKubasek
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,Chapter1-AnIntroductiontoDynamicBusinessLaw l l l l l l l l




CHAPTER OVERVIEW l




Chapter One lays the foundation for the textbook. Make sure you look on the publisher‘s web site for
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information about how business law intersects with the six functional areas of business. The authors encourage
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studentsto―connect tothecore,‖ andrememberthewaysinwhichlawintersects withotherareas of study, including
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corporate management, production and transportation, marketing, research and development, accounting and
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finance,andhumanresourcemanagement.
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This manual supports the ―connecting to the core‖ theme by giving ideas for assignments that encourage
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students to integrate their business law knowledge with knowledge they are acquiring from their other business
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classes. The manual also encourages professors to improve their teaching skills. Finally, the manual suggests
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teachingideasforbothbeginningandexperiencedteachers.
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LEARNING OBJECTIVES l




After reading thischapter, studentswill beableto:
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1-1 Definebusinesslaw. l l




1-2 Relatethefunctionalareasofbusinesstotherelevantareasofbusinesslaw1- 3
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Recall the purposes of law.
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1-4 Distinguishamongtypes oflaw. l l l l




1-5 Differentiatebetweensourcesofthelaw. l l l l l




1-6 Identify the various schools ofjurisprudence. l l l l l




LECTURE NOTES WITH DEFINITIONS l l l




In the news…
l l Teachingtip:Foreachchapter,consideraskingstudentstorelatecurrentnews items to l l l l l l l l l l l l l




material from the chapter.
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In addition to ideas students come up with on their own, consider weaving in news
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stories provided by the McGraw Hill.
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For Chapter One, McGraw Hill offers the following stories:
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―SmokingBan:TobaccoTyrants:GoneTooFar?ManyStatesArePutting Stronger l l l l l l l l l l l




Restrictions on Where You Can Smoke‖
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• Havestatesgone toofarinbanningsmoking? l l l l l l l

, • Whose interests are state legislatures looking out for in banning l l l l l l l l l




smoking?
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―College Officer Dealings With Lenders Scrutinized.‖ l l l l l




• Shouldregulators takeamorecarefullookatcollegeofficers? l l l l l l l l l




• Why created changes in the ways college officers interact with lenders? l l l l l l l l l l




1-1 Define business
l l Business law consists of the enforceable rules of conduct that govern l l l l l l l l l l




law.
l commercial relationships.
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1-2 Relate the
l l Businesslawappliestothesixfunctionalareasof business: l l l l l l l l l




functionalareasof
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• Corporatemanagement l



business to the
• Productionandtransportation
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relevant areas of
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business law.
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• Marketing
• Research and development l l




• Accounting and finance l l




• Humanresource management l l




1-3 Recall the
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purposesoflaw.
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• Serving as an alternative to fighting l l l l l




• Facilitatingasensethatchangeis possible l l l l l l




• Encouraging social justice l l




• Guaranteeing personal freedoms l l




• Servingasa moralguide l l l l




1-4 Distinguish
l One wayto classifylaw:
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amongtypesoflaw.
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Privatelawinvolvesdisputesbetweenprivateindividualsorgroups.
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Public law involves disputes between private individuals or groups and their
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government.
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Asecondwaytoclassifylaw:
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Civil law involves the rights and responsibilities involved in relationshipsbetween
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persons and between persons and their government.
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Criminallaw involves incidentsinwhichsomeonecommits anactagainst the public as
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a unit.
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Teaching tip: Ask students to give an example of a fact situation that led to both
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criminalandcivillawsuits,e.g.,theO.J.Simpsontrials.
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1-5 Differentiate
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betweensourcesof
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1. Constitutions
the law.
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Constitutional law refers to the general limitsand powers of governments as stated in l l l l l l l l l l l l l




their written constitutions.
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2. Statutes orlegislative actions l l l




3. Cases
Case law (or common law) is the collection of legal interpretations made by judges.
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Staredecisismeanscourtsarerelyingonprecedent.
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Teaching tip: The first time your students encounter an appellate case in the
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, readings,show themwhat staredecisislooks like inthecontext of a real case.
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4. Administrative law l




Administrative law is the collection of rules and decisions made by l l l l l l l l l l




administrative agencies.
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5. Treaties
A treaty is a binding agreement between two states or international
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organizations.
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6. Executive orders l




Anexecutiveorderisadirectivethatcomesfromthepresidentorstategovernor.
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1-6 Identify the
l l Schoolsofjurisprudenceare commonguidestolegalinterpretation.
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variousschoolsof
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• Naturallaw—certainethicallawsandprinciples aremorallyrightand l l l l l l l l l



jurisprudence.
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―above‖ the laws devised by humans. l l l l l




• Legal Positivism—assumes the legitimate political authority deserves l l l l l l




our obedience when it issues a rule.
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• IdentificationwiththeVulnerable—emphasis onfairness andlooking out l l l l l l l l




for those with the least power.
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• HistoricalSchool/Tradition—emphasisontheuseofstaredecisis. l l l l l l l




• Legal Realism—judges consider social and economic conditions. l l l l l l




• Cost-benefitAnalysis—makecalculationstomaximizetheratioof l l l l l l l




benefits to costs. l l l




Teaching tip: Consider using ―The Case of the Speluncean Explorers (link
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below)to make the schools ofjurisprudence come alive.
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Global and
l At this point in the textbook, students should merely have an awareness that
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ComparativeLaw
l l globalization has affected the scope of business law. Consequently, we highlight the
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definitions tothefollowing key terms thatwill comeuplaterin the book:
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• Trade, i.e. the exchange of goods or services, on a global scale has ledto the l l l l l l l l l l l l l l




creation of trade agreements that serve as de facto rules governing the global
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business environment.
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• Comparative law—the field of law that studies and compares laws in l l l l l l l l l l




different countries.
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AppendixonCritical
l l Critical thinking includes the application of evaluative standards to assess the
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Thinking and
l l quality or the reasoning being offered to support the conclusion. Critical thinkers will
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Business
l followthispatternofcareful thinkingwhentheyread anargument:
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1. Find the facts. l l




2. Lookforthe issue. l l l




3. Identifythejudge‘sreasonsand conclusion. l l l l l




4. Locate inthedecisionthe rulesoflaw that governthejudge‘s reasoning. l l l l l l l l l l l l




5. Applycriticalthinkingtothe reasoning. Evaluate the reasoning.l l l l l l l l




• Lookforpotential ambiguity. l l l




• Considerthe strength of analogies. l l l l