Summary: This text offers complete coverage of business law and its environment in a non-technical, straightforward, and student-friendly style. Cases are summarized by the authors and integrated throughout chapters. Legal issues and court decisions are carefully explained with a minimum of legal jargon. The text covers all required business law topics for the CPA exam.
NEW! Updated Thr...show moreoughout: Provides the latest important developments in Business Law. For example, this edition includes new coverage of corporate governance, corporate scandals, and Sarbanes Oxley in Ch. 2 (Business Ethics); full coverage of the U.S. Bankruptcy Abuse Prevention and Consumer Protection Act of 2005; the 2003 amendments to Article 2 of the UCC; the Uniform Electronic Transactions Act (UETA) and the Electronic Signatures in Global and National Commerce (E-Sign) Act; the Family Entertainment and Copyright Act of 2005 and the Anti-counterfeiting Amendments Act of 2004; substitute checks; the 2003 revision to UCC Article 7; and much more.
NEW! Reorganized/Refined Coverage: Content on general partnerships has been rearranged for greater clarity. Chapter 31 now covers the formation and internal relations of general partnerships. Dissolution is now covered in Chapter 32. These changes present the life cycle of general partnerships more logically. Chapter 33 has added coverage of LLC mergers and conversions to round out students' understanding of LLC activities. Chapter 42 elaborates on the criteria for proving discrimination so that students more clearly understand how to avoid discrimination in their management careers.
NEW! More Business Application: Two new features drive the relevance of the concepts home for students. "Business Law in Action: Application" provide longer examples of how business law concepts affect workplace situations. Examples include an auto manufacturer's use of arbitration, who pays for attorneys' fees, good corporate governance, and more. Students will gain insight on why they should learn legal concepts and how managers apply the law. "Business Law in Action: Insight" concentrate on managerial and consumer perspectives. Future and current managers gain legal information relevant to their decision making. Students also explore business regulations from a consumer's perspective.
NEW! Integrated Ethics Case: Vulcan, Inc. is a new Business Ethics Case appearing with five other cases at the end of Chapter 2: Business Ethics. Vulcan, Inc. is a hypothetical multinational, Fortune 200 company engaging principally in the exploration for and extraction of minerals. Students walk through an insider trading situation and have the opportunity to explore and debate the ethical issues involved.
Critical Thinking Activities: Critical Thinking Questions pertaining to each case encourage students to examine legal policies or reasoning.
Ethics Integration: The cases in Chapter 2, "Business Ethics," emphasize managerial case studies rather than court cases to show how ethics applies to business not just to law. "Ethical Dilemmas" boxes throughout the text enable students to explore a series of social, procedural and ethical questions presented in a managerial situation.
Practical Focus: "Practical Advice" features illustrate how legal concepts can be applied to common business situations.
End-of-chapter Problems: These featured student exercises are separated into hypothetical and case problems.
9. Introduction to Contracts. 10. Mutual Assent. 11. Conduct Invalidating Assent. 12. Consideration. 13. Illegal Bargains. 14. Contractual Capacity. 15. Contracts in Writing. 16. Third Parties to Contracts. 17. Performance, Breach, and Discharge. 18. Contract Remedies.
PART 4. SALES.
19. Introduction to Sales and Leases. 20. Performance. 21. Transfer of Title and Risk of Loss. 22. Product Liability: Warranties and Strict Liability. 23. Sales Remedies.
PART 5. NEGOTIABLE INSTRUMENTS.
24. Form and Content. 25. Transfer. 26. Holder in Due Course. 27. Liability of Parties. 28. Bank Deposits, Collections, and Funds Transfers.
PART 6. AGENCY.
29. Relationship of Principal and Agent. 30. Relationship with Third Parties.
PART 7. BUSINESS ASSOCIATIONS.
31. Formation and Internal Relations of General Partnerships. 32. Operation and Dissolution of General Partnerships. 33. Limited Partnerships and Limited Liability Companies. 34. Nature and Formation of Corporations. 35. Financial Structure of Corporations. 36. Management Structure of Corporations. 37. Fundamental Changes of Corporations.
PART 8. DEBTOR AND CREDITOR RELATIONS.
38. Secured Transactions and Suretyship. 39. Bankruptcy.
49. Introduction to Property, Property Insurance, Bailments, and Documents of Title. 50. Interests in Real Property. 51. Transfer and Control of Real Property. 52. Trusts and Wills.
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