Business law

INSTRUCTIONS AND INFORMATION

To successfully complete the assignment, read the assigned materials and submit complete answers.  Please review the rubric for grading criteria and see the model answer below for an example of a full credit answer. 

PART I: REVIEW

Answer all four questions. Answers must be complete, logical, thoughtful, supported by examples, and well written. Generally answers should be at least 100 words each.

1. Define and explain the term "law".  Is the law different from suggestions or advice?  What is a theory of jurisprudence?  (Answering this question will help you achieve unit learning goal 1.)

2. What are the 4 primary sources of law in the U.S.? Give a specific example of each of the four primary sources.  (Answering this question will help you achieve unit learning goal 2.)

3. What is a rule of law? Are the rules of law the same in every jurisdiction in the U.S.?  (Answering this question will help you achieve unit learning goal 3.)

4. How is the law relevant to business? (Answering this question will help you achieve unit learning goal 3.)

5. How does the law affects business disciplines? (Answering this question will help you achieve unit learning goal 3.)

PART II: CRITICAL THINKING

Answer at least two (2) of the questions below. Answers must be complete, logical, thoughtful, supported by examples, well written, and be at least 200 words in length. 

1. Listen or read the news report " How to Hide a Corporate Jet (Links to an external site.) ." Then, discuss the following: (a) did Jos. A. Bank follow the letter of the law? (b) did the Jos. A. Bank obey the spirit of the law? (c) did Jos. A. Bank act ethically?  

2. Discuss: What is social responsibility? Do business have a moral or ethical requirement to be socially responsible? Should they? Do business have a legal requirement to be socially responsible?  Use specific examples in your answer. (Answering this question will help you achieve unit learning goal 3.)

3. Does the law include only the actual words that are written, or does it also include reading between the lines to discern the spirit of the law? Do you believe that what the law actually is matters as much as who enforces it? Do you think that morality is a part of legality, or do you think that morality is wholly separate from the law? (Answer to achieve unit learning goal 1.)

4. Find a news article that highlights a legal problem facing a business.  Summarize the article and explain how the business could have avoided the problem with a better understanding of the law. (Answering this question will help you achieve unit learning goal 3.)

EXAMPLE OF HOW TO ANSWER THE QUESTIONS

The question and answer below are an example of an answer submitted by a student for full credit. Do not submit an answer to the question below.

Question:

What is contract law? What is a valid contract? Give a specific example.

Example：

Contract law deals with legally enforceable agreements. To be valid, a contract must include an offer, an acceptance of the offer, and an exchange of something of value. Also, the contract usually must be in writing. For example, imagine a landlord owns an apartment.  She could offer to rent the apartment for $1000/month.  A tenant could accept the offer by signing the lease.  Then, the tenant would pay the first month of rent and the landlord would give her the keys. This is an exchange of value.  Later, if the tenant failed to pay rent, the landlord could sue for the money owed because a lease is a legally enforceable agreement.  This is contract law.