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Table of Contents
About the Authors
Acknowledgments
Preface
1
Introduction to Law and Legal Systems
1.1
What Is Law?
1.2
Schools of Legal Thought
1.3
Basic Concepts and Categories of US Positive Law
1.4
Sources of Law and Their Priority
1.5
Legal and Political Systems of the World
1.6
A Sample Case
1.7
Summary and Exercises
2
Corporate Social Responsibility and Business Ethics
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2.1
What Is Ethics?
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2.2
Major Ethical Perspectives
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2.3
An Ethical Decision Model
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2.4
Corporations and Corporate Governance
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2.5
Summary and Exercises
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3
Courts and the Legal Process
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3.1
The Relationship between State and Federal Court Systems in the United States
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3.2
The Problem of Jurisdiction
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3.3
Motions and Discovery
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3.4
The Pretrial and Trial Phase
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3.5
Judgment, Appeal, and Execution
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3.6
When Can Someone Bring a Lawsuit?
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3.7
Relations with Lawyers
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3.8
Alternative Means of Resolving Disputes
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3.9
Cases
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4
Constitutional Law and US Commerce
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4.1
Basic Aspects of the US Constitution
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4.2
The Commerce Clause
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4.3
Dormant Commerce Clause
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4.4
Preemption: The Supremacy Clause
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4.5
Business and the Bill of Rights
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4.6
Cases
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4.7
Summary and Exercises
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5
Administrative Law
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5.1
Administrative Agencies: Their Structure and Powers
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5.2
Controlling Administrative Agencies
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5.3
The Administrative Procedure Act
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5.4
Administrative Burdens on Business Operations
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5.5
The Scope of Judicial Review
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5.6
Cases
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5.7
Summary and Exercises
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6
Criminal Law
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6.1
The Nature of Criminal Law
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6.2
Types of Crimes
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6.3
The Nature of a Criminal Act
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6.4
Responsibility
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6.5
Procedure
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6.6
Constitutional Rights of the Accused
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6.7
Cases
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6.8
Summary and Exercises
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7
Introduction to Tort Law
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7.1
Purpose of Tort Laws
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7.2
Intentional Torts
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7.3
Negligence
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7.4
Strict Liability
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7.5
Cases
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7.6
Summary and Exercises
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8
Introduction to Contract Law
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8.1
General Perspectives on Contracts
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8.2
Sources of Contract Law
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8.3
Basic Taxonomy of Contracts
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8.4
Cases
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8.5
Summary and Exercises
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9
The Agreement
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9.1
The Agreement in General
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9.2
The Offer
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9.3
The Acceptance
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9.4
Cases
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9.5
Summary and Exercises
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10
Free Will, Knowledge, and Capacity (Real Assent)
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10.1
Duress and Undue Influence
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10.2
Misrepresentation
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10.3
Mistake
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10.4
Capacity
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10.5
Cases
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10.6
Summary and Exercises
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11
Consideration
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11.1
General Perspectives on Consideration
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11.2
Legal Sufficiency
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11.3
Promises Enforceable without Consideration
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11.4
Cases
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11.5
Summary and Exercises
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12
Legality
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12.1
General Perspectives on Illegality
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12.2
Agreements in Violation of Statute
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12.3
Bargains Made Illegal by Common Law
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12.4
Effect of Illegality and Exceptions
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12.5
Cases
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12.6
Summary and Exercises
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13
Form and Meaning
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13.1
The Statute of Frauds
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13.2
The Parol Evidence Rule
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13.3
Interpretation of Agreements: Practicalities versus Legalities
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13.4
Cases
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13.5
Summary and Exercises
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14
Third-Party Rights
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14.1
Assignment of Contract Rights
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14.2
Delegation of Duties
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14.3
Third-Party Beneficiaries
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14.4
Cases
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14.5
Summary and Exercises
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15
Discharge of Obligations
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15.1
Discharge of Contract Duties
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15.2
Cases
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15.3
Summary and Exercises
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16
Remedies
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16.1
Theory of Contract Remedies
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16.2
Promisee’s Interests Protected by Contract
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16.3
Legal Remedies: Damages
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16.4
Equitable Remedies
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16.5
Limitations on Contract Remedies
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16.6
Cases
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16.7
Summary and Exercises
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17
Introduction to Sales and Leases
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17.1
Commercial Transactions: the Uniform Commercial Code
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17.2
Introduction to Sales and Lease Law, and the Convention on Contracts for the International Sale of Goods
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17.3
Sales Law Compared with Common-Law Contracts and the CISG
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17.4
General Obligations under UCC Article 2
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17.5
Cases
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17.6
Summary and Exercises
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18
Title and Risk of Loss
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18.1
Transfer of Title
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18.2
Title from Nonowners
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18.3
Risk of Loss
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18.4
Cases
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18.5
Summary and Exercises
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19
Performance and Remedies
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19.1
Performance by the Seller
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19.2
Performance by Buyer
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19.3
Remedies
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19.4
Excuses for Nonperformance
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19.5
Cases
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19.6
Summary and Exercises
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20
Products Liability
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20.1
Introduction: Why Products-Liability Law Is Important
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20.2
Warranties
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20.3
Negligence
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20.4
Strict Liability in Tort
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20.5
Tort Reform
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20.6
Cases
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20.7
Summary and Exercises
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21
Bailments and the Storage, Shipment, and Leasing of Goods
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21.1
Introduction to Bailment Law
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21.2
Liability of the Parties to a Bailment
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21.3
The Storage and Shipping of Goods
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21.4
Negotiation and Transfer of Documents of Title (or Commodity Paper)
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21.5
Cases
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21.6
Summary and Exercises
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22
Nature and Form of Commercial Paper
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22.1
Introduction to Commercial Paper
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22.2
Scope of Article 3 and Types of Commercial Paper and Parties
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22.3
Requirements for Negotiability
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22.4
Cases
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22.5
Summary and Exercises
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23
Negotiation of Commercial Paper
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23.1
Transfer and Negotiation of Commercial Paper
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23.2
Indorsements
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23.3
Problems and Issues in Negotiation
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23.4
Cases
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23.5
Summary and Exercises
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24
Holder in Due Course and Defenses
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24.1
Holder in Due Course
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24.2
Defenses and Role in Consumer Transactions
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24.3
Cases
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24.4
Summary and Exercises
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25
Liability and Discharge
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25.1
Liability Imposed by Signature: Agents, Authorized and Unauthorized
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25.2
Contract Liability of Parties
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25.3
Warranty Liability of Parties
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25.4
Discharge
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25.5
Cases
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25.6
Summary and Exercises
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26
Legal Aspects of Banking
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26.1
Banks and Their Customers
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26.2
Electronic Funds Transfers
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26.3
Wholesale Transactions and Letters of Credit
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26.4
Cases
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26.5
Summary and Exercises
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27
Consumer Credit Transactions
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27.1
Entering into a Credit Transaction
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27.2
Consumer Credit Protection Laws and Debt Collection Practices
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27.3
Cases
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27.4
Summary and Exercises
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28
Secured Transactions and Suretyship
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28.1
Introduction to Secured Transactions
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28.2
Priorities
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28.3
Rights of Creditor on Default and Disposition after Repossession
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28.4
Suretyship
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28.5
Cases
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28.6
Summary and Exercises
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29
Mortgages and Nonconsensual Liens
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29.1
Uses, History, and Creation of Mortgages
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29.2
Priority, Termination of the Mortgage, and Other Methods of Using Real Estate as Security
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29.3
Nonconsensual Lien
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29.4
Cases
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29.5
Summary and Exercises
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30
Bankruptcy
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30.1
Introduction to Bankruptcy and Overview of the 2005 Bankruptcy Act
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30.2
Case Administration; Creditors’ Claims; Debtors’ Exemptions and Dischargeable Debts; Debtor’s Estate
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30.3
Chapter 7 Liquidation
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30.4
Chapter 11 and Chapter 13 Bankruptcies
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30.5
Alternatives to Bankruptcy
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30.6
Cases
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30.7
Summary and Exercises
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31
Introduction to Property: Personal Property and Fixtures
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31.1
The General Nature of Property Rights
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31.2
Personal Property
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31.3
Fixtures
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31.4
Case
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31.5
Summary and Exercises
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32
Intellectual Property
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32.1
Patents
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32.2
Trade Secrets
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32.3
Copyright
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32.4
Trademarks
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32.5
Cases
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32.6
Summary and Exercises
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33
The Nature and Regulation of Real Estate and the Environment
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33.1
Estates
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33.2
Rights Incident to Possession and Ownership of Real Estate
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33.3
Easements: Rights in the Lands of Others
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33.4
Regulation of Land Use
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33.5
Environmental Law
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33.6
Cases
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33.7
Summary and Exercises
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34
The Transfer of Real Estate by Sale
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34.1
Forms of Ownership
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34.2
Brokers, Contracts, Proof of Title, and Closing
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34.3
Adverse Possession
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34.4
Cases
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34.5
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35
Landlord and Tenant Law
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35.1
Types and Creation of Leasehold Estates
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35.2
Rights and Duties of Landlords and Tenants
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35.3
Transfer of Landlord’s or Tenant’s Interest
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35.4
Landlord’s Tort Liability
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35.5
Cases
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35.6
Summary and Exercises
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36
Estate Planning: Wills, Estates, and Trusts
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36.1
Wills and Estate Administration
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36.2
Trusts
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36.3
Factors Affecting Estates and Trusts
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36.4
Cases
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36.5
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37
Insurance
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37.1
Definitions and Types of Insurance
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37.2
Property Insurance, Liability Insurance, and Life Insurance
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37.3
Insurer’s Defenses
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37.4
Case
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37.5
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38
Relationships between Principal and Agent
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38.1
Introduction to Agency and the Types of Agents
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38.2
Duties between Agent and Principal
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Cases
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38.4
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39
Liability of Principal and Agent; Termination of Agency
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39.1
Principal’s Contract Liability
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39.2
Principal’s Tort and Criminal Liability
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Agent’s Personal Liability for Torts and Contracts; Termination of Agency
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Cases
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40
Partnerships: General Characteristics and Formation
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40.1
Introduction to Partnerships and Entity Theory
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40.2
Partnership Formation
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41
Partnership Operation and Termination
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41.1
Operation: Relations among Partners
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41.2
Operation: The Partnership and Third Parties
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Dissolution and Winding Up
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42
Hybrid Business Forms
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42.1
Limited Partnerships
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42.2
Limited Liability Companies
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42.3
Other Forms
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43
Corporation: General Characteristics and Formation
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43.1
Historical Background
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Partnerships versus Corporations
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The Corporate Veil: The Corporation as a Legal Entity
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Classifications of Corporations
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Corporate Organization
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43.6
Effect of Organization
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Cases
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44
Legal Aspects of Corporate Finance
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44.1
General Sources of Corporate Funds
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Bonds
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Types of Stock
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Initial Public Offerings and Consideration for Stock
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Dividends
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The Winds of Change
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45
Corporate Powers and Management
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45.1
Powers of a Corporation
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Rights of Shareholders
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46
Securities Regulation
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46.1
The Nature of Securities Regulation
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Liability under Securities Law
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47
Corporate Expansion, State and Federal Regulation of Foreign Corporations, and Corporate Dissolution
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47.1
Corporate Expansion
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Foreign Corporations
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Dissolution
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48
Antitrust Law
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48.1
History and Basic Framework of Antitrust Laws in the United States
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48.2
Horizontal Restraints of Trade: Sherman Act, Section 1
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Vertical Restraints of Trade
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Price Discrimination: The Robinson-Patman Act
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Exemptions
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48.7
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49
Unfair Trade Practices, the Federal Trade Commission, and Consumer Protection Laws
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49.1
The Federal Trade Commission: Powers and Law Governing Deceptive Acts
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Deceptive Acts and Practices
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Unfair Trade Practices
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Remedies
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50
Employment Law
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50.1
Federal Employment Discrimination Laws
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Employment at Will
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Labor-Management Relations
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Other Employment-Related Laws
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51
International Law
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51.1
Introduction to International Law
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Sources and Practice of International Law
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Important Doctrines of Nation-State Judicial Decisions
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Regulating Trade
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52
Liability and Regulation of Accountants
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52.1
Why Regulation of Accountants is Necessary
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Common Law Liability
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Federal Statutory Liability
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52.6
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