Why identify and describe the basic principles of major business law subjects—including business organization, constitutional authority to regulate business, contracts and the Uniform Commercial Code, criminal law, and torts?
Now let’s really get down to business and introduce you in detail to each of the special areas of U.S. law which specifically and directly impact you and your business. Although every business is uniquely affected by different areas of the law and specific statutes or decisions, the next section will assist you in learning some specifics about the basics of business law:
- Acquire an understanding of how federal law and regulation based on the Constitution provides for both the regulation and protection of business.
- You will also learn the basics of how to create and enforce business contracts and how to defend against injury claims.
- You will learn the basics on common business crimes and employment issues to assist you with steering clear of these problems in your future business.
- You will learn the basics of property laws affecting your ownership and use of your business property.
- Finally you will be shown the basic advantages and disadvantages of the different forms of business organization, corporations, partnerships and sole proprietorships.
LET’S GET REAL and translate all the academic jargon from the questions above into real language and real situations. This next section will provide knowledge helping to answer these practical questions:
- What can the government constitutionally do to your business? Take away your property? Tell you how you must operate your business? How much does and will the the government do to protect your business from others?
- How can I know that I have a binding and enforceable contract with my business supplier and what remedies will I have in the court system if either or the other business fails to perform the contract?
- How can I avoid committing a crime in my business and face criminal charges and punishment or avoid being sued and punished for unknowingly discriminating against my employees?
- What are my rights and protections of my business property especially my name, creations and business secrets?
- Does it matter to me if I organize and operate as a corporation or a partnership or a sole proprietorship?
If the answers to these questions seem relevant and crucial to you and your future business (and they should) then read, study, and learn on!
- Identify major U.S. Constitutional clauses that relate to business
- Compare governmental authority to regulate business with individual constitutional rights
- List and explain the essential elements of a valid contract, describe how a contract can fail, and summarize the remedies available for breach of contract
- Contrast and distinguish a common law contract with a contract governed by the Uniform Commercial Code
- Identify laws that generally regulate the employer-employee relationship
- Identify criminal acts related to the business world
- Explain and contrast various forms of business organization
- Describe and distinguish between different types of property
- List and explain the types of torts