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Table of Contents

    • About the Authors
    • Acknowledgments
    • Preface
    • 1Introduction to Law and Legal Systems
      • 1.1What Is Law?
      • 1.2Schools of Legal Thought
      • 1.3Basic Concepts and Categories of U.S. Law
      • 1.4Who Makes the Law
      • 1.5Legal and Political Systems of the World
      • 1.6A Sample Case
      • 1.7Summary and Exercises
    • 2Introduction to Corporate Social Responsibility and Business Ethics

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      • 2.1What Is Ethics?

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      • 2.2Major Ethical Perspectives

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      • 2.3An Ethical Decision Model

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      • 2.4Ethical Problems with Corporations and Corporate Governance

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      • 2.5Summary and Exercises

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    • 3Introduction to Courts and the Legal Process

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      • 3.1State and Federal Court Systems in the United States

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      • 3.2The Jurisdiction Issue

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      • 3.3The Pretrial and Trial Phases

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      • 3.4Judgment, Appeal, and Execution

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      • 3.5Alternative Means of Resolving Disputes

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      • 3.6Practical Considerations in Dispute Resolution

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      • 3.7Summary and Exercises

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    • 4Introduction to Constitutional Law and U.S. Commerce

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      • 4.1Basics of the U.S. Constitution

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      • 4.2The Commerce Clause

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      • 4.3Dormant Commerce Clause

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      • 4.4Preemption: The Supremacy Clause

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      • 4.5Business and the Bill of Rights

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      • 4.6Summary and Exercises

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    • 5Introduction to Administrative Law

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      • 5.1Agency Rationale, Creation, and Development

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      • 5.2Agency Processes and Powers

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      • 5.3Constraints on Agency Action

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      • 5.4Administrative Burdens on Business Operations

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      • 5.5Summary and Exercises

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    • 6Introduction to Criminal Law

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      • 6.1The Nature of Criminal Law

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      • 6.2Types of Crimes

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      • 6.3The Elements of Crime

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      • 6.4Criminal Procedure

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      • 6.5Constitutional Rights of the Accused

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      • 6.6Summary and Exercises

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    • 7Introduction to Tort Law

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      • 7.1Definition and Purpose of Tort and Tort Law

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      • 7.2Types of Torts: Intentional Torts

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      • 7.3Types of Torts: Negligence

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      • 7.4Types of Torts: Strict Liability

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      • 7.5Remedies in Tort, Limitations on Remedies, and Tort Reform

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      • 7.6Summary and Exercises

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    • 8Introduction to Contract Law

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      • 8.1General Perspectives on Contracts

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      • 8.2Sources of Contract Law

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      • 8.3Basic Taxonomy of Contracts

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      • 8.4Summary and Exercises

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    • 9Offer and Acceptance

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      • 9.1The Agreement in General

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      • 9.2The Offer

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      • 9.3The Acceptance

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      • 9.4Summary and Exercises

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    • 10Real Acceptance: Free Will, Knowledge, and Capacity

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      • 10.1Lack of Free Will: Duress and Undue Influence

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      • 10.2Misrepresentation

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      • 10.3Mistake

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      • 10.4Capacity

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      • 10.5Summary and Exercises

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    • 11Consideration

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      • 11.1General Perspectives on Consideration

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      • 11.2Legal Sufficiency

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      • 11.3Promises Enforceable without Consideration

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      • 11.4Summary and Exercises

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    • 12Legality

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      • 12.1General Perspectives on Illegality

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      • 12.2Agreements Made Illegal by Common Law

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      • 12.3Agreements Made Illegal by Statute

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      • 12.4Effect of Illegality and Exceptions

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      • 12.5Summary and Exercises

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    • 13Form and Meaning

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      • 13.1The Statute of Frauds

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      • 13.2The Parol Evidence Rule

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      • 13.3Interpretation of Agreements: Legalities Versus Practicalities

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      • 13.4Summary and Exercises

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    • 14Third-Party Rights

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      • 14.1Assignment of Contract Rights

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      • 14.2Delegation of Contract Duties

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      • 14.3Third-Party Beneficiaries

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      • 14.4Summary and Exercises

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    • 15Discharge of Common-Law Contract Obligations

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      • 15.1Discharge by Performance

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      • 15.2Discharge by Conditions

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      • 15.3Discharge by Agreement of the Parties

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      • 15.4Discharge by Difficulty of Performance

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      • 15.5Other Methods of Discharge

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      • 15.6Summary and Exercises

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    • 16Common-Law Remedies

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      • 16.1Theory of Contract Remedies

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      • 16.2Promisee’s Interests Protected by Contract

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      • 16.3Legal Remedies: Damages

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      • 16.4Equitable Remedies

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      • 16.5Limitations on Contract Remedies

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      • 16.6Summary and Exercises

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    • 17Bailments and the Storage, Shipment, and Leasing of Goods

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      • 17.1Introduction to Bailment Law

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      • 17.2Liability of the Parties to a Bailment

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      • 17.3The Storage and Shipping of Goods

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      • 17.4Negotiation and Transfer of Documents of Title (or Commodity Paper)

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      • 17.5Summary and Exercises

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    • 18Introduction to Sales and Leases

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      • 18.1Commercial Transactions: The Uniform Commercial Code

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      • 18.2Introduction to Sales and Lease Law, and the Convention on Contracts for the International Sale of Goods

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      • 18.3Sales Law Compared with Common-Law Contracts and the CISG

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      • 18.4General Obligations Under UCC Article 2

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      • 18.5Summary and Exercises

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    • 19Title and Risk of Loss

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      • 19.1Transfer of Title

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      • 19.2Title from Nonowners

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      • 19.3Risk of Loss

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      • 19.4Summary and Exercises

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    • 20Sales Contracts Performance and Remedies

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      • 20.1Sales: Performance by the Seller

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      • 20.2Sales: Performance by Buyer

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      • 20.3Sales: Excuses for Nonperformance

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      • 20.4Sales: Remedies

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      • 20.5Summary and Exercises

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    • 21Products Liability

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      • 21.1Introduction: Why Products Liability Law Is Important

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      • 21.2Warranties

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      • 21.3Negligence

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      • 21.4Strict Liability in Tort

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      • 21.5Tort Reform

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      • 21.6Summary and Exercises

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    • 22Nature and Form of Commercial Paper

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      • 22.1Introduction to Commercial Paper

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      • 22.2Scope of Article 3 and Types of Commercial Paper and Parties

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      • 22.3Requirements for Negotiability

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      • 22.4Summary and Exercises

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    • 23Negotiation of Commercial Paper

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      • 23.1Transfer and Negotiation of Commercial Paper

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      • 23.2Indorsements

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      • 23.3Problems and Issues in Negotiation

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      • 23.4Summary and Exercises

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    • 24Holder in Due Course and Defenses

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      • 24.1Holder in Due Course

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      • 24.2HDC Defenses and Rules in Consumer Transactions

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      • 24.3Summary and Exercises

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    • 25Liability and Discharge of Commercial Paper

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      • 25.1Liability Imposed by Signature: Agents, Authorized and Unauthorized

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      • 25.2Contract Liability of Parties

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      • 25.3Warranty Liability of Parties

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      • 25.4Discharge

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      • 25.5Summary and Exercises

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    • 26Legal Aspects of Banking

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      • 26.1Banks and Their Customers

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      • 26.2Electronic Funds Transfers

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      • 26.3Wholesale Transactions and Letters of Credit

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      • 26.4Summary and Exercises

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    • 27Consumer Credit Transactions

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      • 27.1Entering into a Credit Transaction

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      • 27.2Consumer Credit Protection Laws and Debt-Collection Practices

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      • 27.3Summary and Exercises

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    • 28Secured Transactions and Suretyship

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      • 28.1Introduction to Secured Transactions and to Attachment

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      • 28.2Perfection of the Security Interest

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      • 28.3Priorities

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      • 28.4Rights of Creditor on Default and Disposition after Repossession

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      • 28.5Suretyship

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      • 28.6Summary and Exercises

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    • 29Mortgages and Nonconsensual Liens

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      • 29.1Uses, History, and Creation of Mortgages

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      • 29.2Priority, Termination of the Mortgage, and Other Methods of Using Real Estate as Security

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      • 29.3Nonconsensual Liens

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      • 29.4Summary and Exercises

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    • 30Bankruptcy

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      • 30.1Introduction to Bankruptcy and Overview of the 2005 Bankruptcy Act

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      • 30.2Case Administration; Creditors’ Claims; Debtors’ Exemptions and Dischargeable Debts; Debtor’s Estate

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      • 30.3Chapter 7 Liquidation

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      • 30.4Chapter 11 and Chapter 13 Bankruptcies

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      • 30.5Alternatives to Bankruptcy

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      • 30.6Summary and Exercises

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    • 31Introduction to Property: Personal Property and Fixtures

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      • 31.1The General Nature of Property Rights

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      • 31.2Personal Property

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      • 31.3Fixtures

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      • 31.4Summary and Exercises

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    • 32Intellectual Property

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      • 32.1Patents

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      • 32.2Trade Secrets

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      • 32.3Copyright

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      • 32.4Trademarks

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      • 32.5Summary and Exercises

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    • 33Regulation of Real Estate

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      • 33.1Estates

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      • 33.2Rights in Land Ownership: Estates, Easements, Licenses

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      • 33.3Regulation of Land Use

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      • 33.4Summary and Exercises

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    • 34Environmental Law

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      • 34.1The Growth of Environmentalism

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      • 34.2Major Federal and State Legislation

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      • 34.4Summary and Exercises

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    • 35The Transfer of Real Estate by Sale

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      • 35.1Forms of Ownership

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      • 35.2Brokers, Contracts, Proof of Title, and Closing

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    • 36Landlord and Tenant Law

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      • 36.1Types and Creation of Leasehold Estates

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    • 37Estate Planning: Wills, Estates, and Trusts

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      • 37.1Wills and Estate Administration

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      • 37.3Factors Affecting Estates and Trusts

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    • 38Insurance

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      • 38.1Definitions and Types of Insurance

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      • 38.2Property Insurance, Liability Insurance, and Life Insurance

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    • 39Relationships Between Principal and Agent

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      • 39.1Introduction to Agency and the Types of Agents

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      • 39.2Duties Between Agent and Principal

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    • 40Liability of Principal and Agent; Termination of Agency

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      • 40.1Principal’s Tort and Criminal Liabilities

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    • 41Partnerships: General Characteristics and Formation

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      • 41.1Introduction to Partnerships and Entity Theory

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    • 42Partnership Operation and Termination

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      • 42.1Operation: Relations Among Partners

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      • 42.2Operation: The Partnership and Third Parties

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      • 42.3Dissolution and Winding Up

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    • 43Hybrid Business Forms

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      • 43.1Limited Partnerships

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    • 44Corporation: General Characteristics and Formation

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      • 44.1Historical Background

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      • 44.2Partnerships versus Corporations

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      • 44.6Effect of Organization: Limited Liability

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    • 45Legal Aspects of Corporate Finance

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      • 45.1Sources of Corporate Funds

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    • 46Corporate Expansion, State and Federal Regulation of Foreign Corporations, and Corporate Dissolution

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      • 46.1Corporate Expansion

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      • 46.3Dissolution

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    • 47Corporate Powers and Management

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      • 47.1Powers of a Corporation

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      • 47.2Rights of Shareholders

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      • 47.3Duties and Powers of Directors and Officers

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    • 48Securities Regulation

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      • 48.1Introduction to Securities Regulation

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      • 48.2Liability Under the Securities Laws

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    • 49Antitrust Law

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      • 49.1History and Basic Framework of Antitrust Laws in the United States

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      • 49.2Horizontal and Vertical Restraints of Trade

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      • 49.3Sherman Act, Section 2: Monopolies and Monopolization

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      • 49.4Acquisitions and Mergers Under Section 7 of the Clayton Act

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    • 50Unfair Trade Practices, the Federal Trade Commission, and Consumer Protection Laws

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      • 50.1The Federal Trade Commission and “Little FTCs”

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    • 51Employment Law

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      • 51.1Employment at Will

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    • 52International Law

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      • 52.1Introduction to International Law

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      • 52.2Sources of International Law

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      • 52.3Important Doctrines of Nation-State Jurisprudence

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      • 52.4Doing Business Internationally and Regulation of International Trade 

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    • 53Liability and Regulation of Accountants

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      • 53.1Why Regulation of Accountants Is Necessary

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