Business Law

Course Content from McGraw-Hill
Course Number: BUS110
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This Business Law course is designed to familiarize students with various kinds of laws, key elements of the American Constitution, and the concepts of the various schools of jurisprudence. Ethics, values, morality, law, and the various ethical theories are compared and contrasted, and the need for promoting corporate social responsibility is discussed. The elements of tort law, the basic elements of a contract, the sources of laws governing contracts, and the conditions for an offer to be valid are examined. Topics include reality of consent, capacity of minors, consequences of illegal agreements, assignment of rights, transfer of title, and the rights of third parties. Delivery of goods, right to inspection, acceptance and revocation of contract, the remedies available to buyers and sellers, and the nature of property are also discussed.

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3
college credits
Course Type Icon
Self Paced
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Business
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7 Reviews
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  • 9/19/14 by dsykes
    Excellent course for a general understanding of the legalities of business and contracts. A great refresher for anyone who has been a business leader for decades.
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  • 9/19/14 by dsykes
    Excellent course for a general understanding of the legalities of business and contracts. A great refresher for anyone who has been a business leader for decades.
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    Overall Rating
  • 6/26/14 by fegramling
    If you've watched Judge Judy and wonder why she ask some the questions she does and how that leads her to a conclusion, understanding how contracts work will help understand her methods of reasoning as well as teaching how to create contracts legally (which can help if you need to go to court). In your life you enter hundreds of contracts which is why an understanding of them is important.
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  • 6/26/14 by fegramling
    If you've watched Judge Judy and wonder why she ask some the questions she does and how that leads her to a conclusion, understanding how contracts work will help understand her methods of reasoning as well as teaching how to create contracts legally (which can help if you need to go to court). In your life you enter hundreds of contracts which is why an understanding of them is important.
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    Overall Rating
  • 9/28/13 by joy.vitoritt
    The Business Law course contained material that was relevant to my career. The self-paced format allowed me to complete my degree faster than had a taken a traditional course.
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  • 8/31/13 by pblanchard13
    This course was fantastic! A perfect balance for a busy student.
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  • 5/28/13 by jenntalley69
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Course Objectives

After completing this Business Law course, you will be able to:

  • Classify the various kinds of laws, and describe the key elements of the American Constitution and the concepts of the various schools of jurisprudence.
  • Contrast ethics, values, morality, law, and the various ethical theories and explain the need and means for promoting corporate social responsibility in business.
  • Define the elements of tort law and explain the various types of interference with personal and property rights, corresponding liabilities, negligence, and strict liability.
  • Classify the different types of intellectual property and cases of infringement, and detail the measures for their protection.
  • Explain the basic elements of a contract, the sources of laws governing contracts, and the conditions for an offer to be valid.
  • State the meaning of acceptance of an offer and describe the modes of communication and elements of consideration in a contract.
  • Compare and contrast the various terms pertaining to reality of consent and discuss issues related to capacity of minors, mentally impaired, and intoxicated persons.
  • Enumerate unfair contracts and contracts made illegal by public policy, and explain the consequences of illegal agreements.
  • List the information that must be written in a contract and explain the parol evidence rule, the nature of assignment of rights, and delegation of duties in the assignment.
  • Classify the types of conditions for performance of contracts, and explain the standards of expected performance.
  • Examine the terms of sales contracts, the concept of transfer of title, the rights of third parties, and the risks of loss faced by the parties.
  • Discuss the general rules of sales contract, delivery of goods, right to inspection, acceptance and revocation of contract, and the remedies available to buyers and sellers.
  • Describe the nature of property, its classifications, and elements and types of bailments, and enumerate the means of acquiring ownership of personal property.
  • Relate the duties of agent to principal and vice-versa, discuss ways of termination of an agency, and outline the factors that affect a principal's contract liability.

Topic

Topic

Subtopics

Objectives

1

Nature of Law and Judicial Process

  • Functions and Classifications of Law
  • Sources of Laws and Legal Reasoning
  • State Courts, Federal Courts, and Their Jurisdiction
  • Means of Dispute Settlement

  • Classify types of laws, outline key elements of the United States Constitution, and elaborate the concepts of various schools of jurisprudence.
  • Identify the key sources of laws and the components of legal reasoning.
  • Outline the structure of the state and federal courts and the cases under their jurisdiction.
  • Understand the steps in the civil litigation process, the criminal procedure, and the appellate procedure, and describe modes of dispute settlement, particularly alternative dispute resolution.

2

Ethics and Constitutional Law

  • Definition and Theories of Ethics
  • Corporate Social Responsibility and Decision Making
  • State and Federal Regulation of Business
  • Constitutional Checks on Government Power
  • Differentiate ethics from values, morality, and law, and outline the various ethical theories.
  • Explore the need and means for promoting corporate social responsibility and the guidelines used in ethical decision making.
  • Understand the source of powers by which governments regulate business activities.
  • Review the constitutional checks on the powers of the state and the federal governments.

3

Torts

  • Definition and Interference with Personal Rights
  • Other Types of Interference with Personal Rights
  • Interference with Property Rights and Other Liabilities
  • Negligence and Strict Liability
  • Define the elements of tort law and explain the various types of interference with personal and property rights, corresponding liabilities, negligence, and strict liability.
  • Explore the various other types of interference with personal rights and corresponding liabilities.
  • Understand the various types of interference with property rights, other rights, and corresponding liabilities.
  • Elaborate the elements of negligence, and compare the various defenses to negligence.
  • Understand strict liability, the grounds for strict liability, and outline the various tort reforms.

4

Intellectual Property

  • Types of Intellectual Property and Their Protection
  • Trade Secrets and Commercial Torts
  • Cybercrime
  • Classify the different types of intellectual property and cases of infringement, and detail the measures for their protection.
  • Define trade secrets, their ownership, and misappropriation, and elaborate on the relevant commercial torts.
  • Define the key terms in cyberlaw, contrast crimes committed against computers and crimes committed with computers, and outline the cyberlaws and cyberprocedures.

5

Nature of Contracts and Offers

  • Nature and Types of Contracts
  • Sources of Contract Laws
  • Offer and Specific Problems with Offers
  • Terms of the Offer and Termination
  • Trace the evolution of contract law, define the basic elements of a contract, and differentiate the various types of contracts.
  • List the sources of laws governing contracts and their applications.
  • Identify the conditions for an offer to be valid, and relate the various problems pertaining to offers.
  • Review the terms of offer, and relate the various means of revocation of offers.

6

Acceptance and Consideration

  • Acceptance and Communication of Offer
  • Specific Acceptance Problems
  • Elements and Requirements of Consideration
  • Requirements of Consideration and Exceptions
  • State the meaning of acceptance of an offer and its key elements, and explain the various modes of communication of acceptance.
  • Identify specific problems related to acceptance.
  • Define the elements of consideration, and relate instances of exchange that do not meet consideration requirements.
  • Relate cases of exchange that fail to meet requirements or are exceptions to consideration requirements.

7

Mutual Assent and Capacity to Contract

  • Mutual Consent, Misrepresentation, and Fraud
  • Mistake, Duress, and Undue Influence
  • Capacity of Minors, Mentally Impaired, and Intoxicated Persons

  • Define mutual consent, and compare and contrast misrepresentation and fraud.
  • Compare and contrast mistake, duress, and undue influence in a contract.
  • Explore the meaning of capacity, and describe the issues related to a minor's dissaffirmance of contracts.
  • Review issues related to incapacity and disaffirmance for minors, mentally impaired persons, and intoxicated persons.

8

Legality of Contracts

  • Illegality and Statute Violation
  • Contracts Violating Public Policy
  • Biases in Contracts and Effects of Illegality
  • Define illegality, and identify contracts made illegal by statutory law.
  • List and explain contracts made illegal by public policy.
  • Enumerate other means of acquiring ownership of personal property, elements and types of bailments, discuss bailee's duties and liabilities, and explain the creation of a bailment.

9

Requirements of Written Contracts and Third-Party Beneficiaries

  • Writing in Contract Law and Statute of Frauds
  • Requirements of Writing and the Parol Evidence Rule
  • Assignment of Contracts
  • Duties and Third-Party Beneficiaries
  • Identify the contracts that are covered by the statute of frauds and explain their nature.
  • List the information that must be written in a contract, and explain the parol evidence rule with exceptions to the rule.
  • Explore the nature of assignment of rights, assignee's rights, and assignor's warranty liability to assignee.
  • Review the nature of delegation of duties, identify beneficiaries in an assignment, and explain their legal rights.

10

Performance and Remedies

  • Conditions and Levels of Performance
  • Breach of Contract and Excuses for Nonperformance
  • Grounds for Discharge and Remedies for Breach
  • Classify the types of conditions for performance of contracts, and explain the standards of expected performance.
  • Outline the different kinds of breaches of contract and the situations when nonperformance can be excused.
  • Enumerate additional situations for discharge of nonperformance, and point out the types of remedies for breach of contract.

11

Sales Contracts

  • Terms of Sales Contracts and the Title
  • Title and Third Parties
  • Risk of Loss and Sales on Trial
  • Review the terms of sales contracts, and explain the importance of title.
  • Explore the concept of transfer of title, and discuss the rights of third parties when goods entrusted to merchants are sold to others in ordinary course of business.
  • Examine the risks of loss faced by the parties, and list the types of sales on trial.

12

Sales Contracts Performance and Remedies

  • General Rules, Inspection, and Agreement
  • Buyer's Rights, Rejection, and Repudiation
  • Remedies for the Seller
  • Remedies for the Buyer
  • Understand the general rules of sales contract and delivery of goods, buyer's right of inspection, and issues in agreement and revocation of agreement.
  • Explore buyer's rights on improper delivery, buyer's duties after rejection, demand for assurance, and repudiation.
  • Outline the guidelines for agreements as to remedies, and enumerate the remedies available to an injured seller.
  • Enumerate the remedies available to an injured buyer, and compare these with the remedies for a seller.

13

Agency

  • Creation, Concepts, and Types of Agency
  • Duties of Agent and Principal and Termination of Agency
  • Contract Liability of the Principal
  • Contract Liability of the Agent, Contract Suits, and Tort Liabilities
  • Define agency and its mode of formation, and describe the various concepts and types of agency.
  • Relate the duties of agent to principal and vice-versa, discuss ways of termination of an agency, and outline the factors that affect a principal's contract liability.
  • Contrast the different types of authority exercised by the principal and outline the other factors that affect a principal's contract liability.
  • Determine the nature of principal to assess an agent's contract liability, and outline the subjects affecting principal's liability for an agent.

14

Personal Property and Bailments

  • Nature, Classification, and Ownership
  • Ownership and Bailment
  • Special Bailment Situations
  • Explore the nature of property, its classifications, and elements and types of bailments, and enumerate the means of acquiring ownership of personal property.
  • Enumerate other means of acquiring ownership of personal property, elements and types of bailments, and bailee's duties and liabilities, and explain the creation of a bailment.
  • List special cases of bailments and documents of title.

15

Review Topic

  • Review
  • Review

There are no prerequisites to take Business Law.

Required Textbook: This course has assigned reading.

Title: Law for Business eTextbook

ISBN: 9781259241048

Our Price: $151.17

Assigned reading material as part of taking this online course.
bookshelfWith every purchase of an eTextbook through StraighterLine, students have access to their texts via the Bookshelf App which syncs to their course, provides offline access for studying on the go, and more.
-OR-
book cover

Law for Business has provided students with a comprehensive, yet concise treatment of the legal issues of fundamental importance to business students and the business profession. The cases, which have always been a strong feature, are edited and re-written by the authors, who divide the material into three categories: facts, issues, decisions. The authors, Barnes, Dworkin, and Richards, choose cases that are appropriate to explain precedent and history as well as include "hot topic" cases that relate to current events.

In addition to case applications, the authors use such techniques as content summaries to apply concepts to practice. Effective managers and employees must develop knowledge of both law and business because people involved in business also are involved in, and greatly affected by, the laws concerning business.

Barnes, A. James, Terry M. Dworkin, and Eric L. Richard. Law for Business, 10th edition, McGraw-Hill/Irwin, 2009, ISBN: 9780073524931

StraighterLine provides a percentage score and letter grade for each course. A passing percentage is 70% or higher.

If you have chosen a Partner College to award credit for this course, your final grade will be based upon that college's grading scale. Only passing scores will be considered by Partner Colleges for an award of credit.

There are a total of 1000 points in the course:

Topic

Assessment

Points Available

3

Graded Exam #1

125

7

Graded Exam #2

125

Cumulative Graded Midterm Exam

250

10

Graded Exam #3

125

14

Graded Exam #4

125

15

Cumulative Graded Final Exam

250

Total

1000


You are required to take an online proctored final exam in order to be eligible for transfer credit. You can take your proctored final exam at home or anywhere you have access to a webcam with a microphone and a reliable, high-speed internet connection. For additional questions, please refer to the FAQ on Online Proctoring or contact your student advisors at 877-787-8375.

This Business Law course is designed to familiarize students with various kinds of laws, key elements of the American Constitution, and the concepts of the various schools of jurisprudence. Ethics, values, morality, law, and the various ethical theories are compared and contrasted, and the need for promoting corporate social responsibility is discussed. The elements of tort law, the basic elements of a contract, the sources of laws governing contracts, and the conditions for an offer to be valid are examined. Topics include reality of consent, capacity of minors, consequences of illegal agreements, assignment of rights, transfer of title, and the rights of third parties. Delivery of goods, right to inspection, acceptance and revocation of contract, the remedies available to buyers and sellers, and the nature of property are also discussed.

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