Module: Legal Environment
Why does the Legal Environment matter?
Take this pre-test to see what you already know about the concepts in this section. The pre-test does not count toward your grade, but will help you plan where to focus your time and effort as you study. The pre-test is optional.
Define law and differentiate between law, the legal system and the rule of law
| Reading: The Law | |
| Reading: The Legal System | |
| Self-Check: The Law |
focus
Distinguish the differences between types of law including civil, criminal, statutory, common, tort, and intellectual property law
| Reading: Types of Law: Criminal, Civil, Tort, Statutory, Common, and Intellectual Property | |
| Reading: Intellectual Property | |
| Video: What Is Intellectual Property and Why Do I Care? | |
| Self-Check: Statutory, Common and Tort Law |
focus
Explain the role of contracts in the business environment and the requirements of an enforceable contract
| Reading: What Is a Contract? | |
| Reading: Parts of a Contract | |
| Self-Check: Contracts |
focus
Explain product liability, forms of negligence, fraud, and the “theories of recovery” in a product liability claim
| Reading: Product Liability | |
| Video: What Is Negligence? | |
| Reading: Dimensions of Tort Liability | |
| Self-Check: Liability, Negligence and Fraud |
focus
Define a warranty and differentiate between express warranties and implied warranties
| Reading: Warranties | |
| Reading: Product Liability and Agency Law | |
| Video: Legal Rights Under Implied Warranties | |
| Self-Check: Warranties |
focus
Distinguish between compensatory damages and punitive damages
| Video: What Are Punitive Damages? | |
| Video: Compensatory Damages | |
| Self-Check: Damages |
Legal Environment
You can take this quiz twice. Your highest score will count as your grade. Don’t wait until the last minute to take the quiz – take the quiz early so you’ll have plenty of time to study and improve your grade on your second attempt.