Why define and appropriately use basic legal concepts in selected areas?

INTRODUCTION

As a business owner or manager you will encounter many legal concepts and terms in operating your business under the guidance and restrictions of the legal system. In this next section you will be shown some basic and specific common legal concepts that you are likely to encounter and that you will find helpful in making the decisions to successfully navigate your business within the legal system. Essentially legal concepts are statements or definitions of law to be applied in resolving business disputes in or out of court.

In business you must always be asking, “how does this particular legal concept affect me and my business?” In this next section the materials will help you understand some basic legal concepts which commonly affect businesses and the questions they face. Here are some of the specific business questions about legal concepts you might want answered.

1. In my sales contracts am I always subject to the UCC and do I need to provide a warranty for everything I sell?
2. If I am involved in litigation and it goes to trial, does the decision affecting my business one simply determined by the whims of a jury?
3. Is there any guidance under the law to avoid discrimination lawsuits based on a “hostile working environment”?
4. If a customer files bankruptcy do I have any chance to receive any payment on the debt owed to my business?

Very important questions to you and every person in business. You want and need answers, so…back to the business and the law!

LEARNING OUTCOMES

• Analyze factual scenarios involving contracts including a contract dispute or breach
• Describe how a case progresses through the U.S. court system and identify a trial from an appeal
• Identify types of discrimination in the workplace
• Identify, understand and explain the key rights under intellectual property laws
• Understand and apply the correct bankruptcy chapter to a scenario