York College, CUNY

STRATEGIC 68798

Chapter 1

1)Outline five purposes of business law. Page 4: The five purposes of business law are:

2. How can knowledge of business law assist owners and managers in reaching their business goals?

3. How can lack of knowledge of business law harm a business?

4. What is the broad definition of the law?

5. How does law protect business interests?

6. How does the law provide protection to members of society?

7. How does contract law facilitate commercial interactions?

8. How does the law facilitate commercial relations?

9. What is the function of business law?

10. _ Identify the recommendations put forth that would prevent US lending institutions from compromising world markets.

11. Outline four mechanisms to resolve disputes.

12. What is the problem with some traditional methods of resolving disputes?

13. Who is obligated to prove the case when a breach of contract claim is made? What is the role of the judge with respect to this obligation?

14. Identify the rule of law pertaining to parties who suffer a breach of contract and explain the rationale behind that rule.

15. How can a business person avoid negative business experiences and enhance returns?

16. Identify the perspective that would consider mere compliance with the law as inadequate.

17. Describe the relationship between law and business ethics, and between the business ethics and the entrepreneur.

18. Describe an ethical issue that can arise with regard to labour practices.

19. Describe an ethical issue that can arise with regard to employee privacy.

20. Describe an ethical issue that can arise in relation to businesses and the environment.

21. Identify the business consequences that can arise from skirting or violating ethical norms.

22. Identify the various forms that a business enterprise may take.

23. What restrictions apply to the use of business names?