BUL 4421 QUESTIONS AND ANSWERS LATEST UPDATE (ALREADY GRADED A+).

BUL 4421 QUESTIONS AND ANSWERS LATEST
UPDATE (ALREADY GRADED A+).
Chapter 1: Introduction to Business Law

Chapter 1: Introduction to Business Law

Relevant areas of business law applicable to human recourse management involve (4):

1. Agency law
2. Contracts
3. Employment and labor laws
4. Employment discrimination

This type of law regulates disputes between private individuals or groups.
(Ex: dispute between landlord and tenant governed by private law).

Private law

This type of law regulates disputes between private individuals and government.
(Ex: dumping in violation of state or federal environmental laws).

Public law

This type of law delineates the rights and responsibilities implied in relationship between persons, or
between person and their government.

Civil law

This type of law regulates incidents in which someone commits an act against the public as a whole,
such as by conducting insider trading on the stock exchange.
- Government is plaintiff

Criminal law

Put these laws in order of Hierarchy of Laws: States Statutes, U.S. Constitutions, Common Law, state
constitution, and Federal Statutes

- U.S. Constitutions
- Federal Statutes
- State Constitution
- State Statutes
- Common Law

Collection of legal interpretations made by judges, and are law unless revoked by new statutory law.

Common Law (aka Case Law)

Past decisions in similar cases that guide later decisions thereby providing greater stability and
predictability to the law.