Business Law I
|Course Number||MGT 251W|
|Course Description||This course provides a comprehensive study of both state and federal court systems, and the relationships of the participants in a lawsuit, including judges, juries, litigants, witnesses and attorneys. Particular areas of business law that are studied in the context noted above include tort law, contract law, agency law, and the law of personal property and bailments. (45-0)|
Outcomes and ObjectivesDemonstrate an introductory knowledge of the nature of law, including duties and rights.
Demonstrate an understanding of the court system and dispute resolution.
- Define legal rights and give examples.
- Explain how rights and duties relate.
- List the sources of law and give examples of each.
Gain an understanding of the different product liability theories available to purchasers, where a defect in the goods causes the buyer damage.
- Explain the federal and state court systems.
- Define the types of jurisdiction courts can have and how these are different.
- List the initial steps in a lawsuit and explain how pleadings are used.
- Explain how a party who prevails in court collects the judgment.
- Give examples of alternative dispute resolution.
Demonstrate an introductory knowledge of what a tort is and what gives rise to tort liability.
- List the theories of product liability.
- Identify who may sue and who may be sued when a defective product causes harm.
- List and define the implied warranties and distinguish them from express warranties.
- Explain and distinguish between full warranties and limited warranties under federal law.
- State what constitutes a breach of warranty.
- Demonstrate an introductory understanding of the Uniform Commercial Code.
Demonstrate an introductory knowledge of how a contract arises.
- Define torts and distinguish them from contracts and from crimes.
- Explain the basis of tort liability.
- Define absolute liability and describe circumstances where the law imposes it.
- Define negligence and explain its application.
- Give examples of both negligent and intentional torts.
Demonstrate knowledge of what constitutes an offer and what constitutes an acceptance.
- List the essential elements of a contract.
- Describe the way in which a contract arises.
- State how contracts are classified.
- Differentiate contracts from agreements that are not contracts.
- Differentiate formal contracts from simple contracts.
- Differentiate express contracts from implieds contracts.
- Differentiate contractual liability from quasi-contractual liability.
Demonstrate knowledge of what is required to have legal contractual capacity.
- Determine whether a statement is an offer or an invitation to negotiate.
- Determine whether an agreement is too indefinite to be enforced.
- Describe the exceptions that the law makes to the requirement of definiteness.
- List all the ways an offer is terminated.
- Compare offers, firm offers, and option contracts.
- Define what constitutes the acceptance of an offer.
Recognize when mutual consideration exists and situations where mutual consideration is not legally required when determining enforceablility of a promise.
- Define contractual capacity.
- State the extent and effect of avoidance of a contract by a minor.
- Classify unilateral and bilateral mistakes.
- Distinguish between innocent misrepentation, fraud, and nondisclosure.
- List those classes of persons who lack contractual capacity.
- Distinguish between undue influence and duress.
Recognize a legally enforceable contract and distinguish it from an illegal, void agreement.
- Define what consitutes consideration.
- State the effect of the absence of consideration.
- Identify promises that can serve as consideration.
- Distinguish between present consideration and past consideration.
- State when forbearance can be consideration.
- Recognize situations in which adequacy of consideration has significance.
- List the exceptions to the requirement of consideration.
Recognize when a contract must be in writing in order to be enforceable.
- State the effect of illegality on a contract.
- Compare illegality and unconscionability.
- Distinguish between illegality in performing a legal contract and the illegallity of a contract.
- Recognize when a contract is invalid because it obstructs legal processes.
- State the elements of a lottery.
- State the extent to which agreements not to compete are lawful.
Demonstrate knowledge and apply the rules Judges have to determine the intent of the parties to a contract.
- State when a contract must be evidenced by a writing.
- List the requirements of a writing that evidences a contract.
- State the effects of the absence of a sufficient writing when a contract must be evidenced by a writing.
- List the exceptions that have been made by the courts to the laws requiring written evidence of contracts.
- Compare statute of frauds requirements with the parole evidence rule.
- List exceptions to the parole evidence rule.
Demonstrate an understanding of how third parties can acquire rights and obligations under a contract between others.
- Compare the effect of objective and subjective intent of the parties to a contract.
- Distinguish between conditions precedent and conditions subsequent.
- State the rules for interpreting ambiguous terms in a contract.
- State the effect of contradictory terms.
- Define and illustrate implied terms.
- State what controls the choice of law applicable to an interstate contract.
Recognize the various ways contractual obligations are terminated.
- Distinguish between a third party beneficiary and an incidental beneficiary.
- Define an assignment of contract rights.
- State the limitations on the assignability or a right to performance.
- Describe what constitutes a delegation of duties.
- State the liability of the parties after a proper delegation of duties has been made.
- Describe the status of an assignee with respect to defenses and setoffs available against the assignor.
- State the significance of a notice of assignment.
- State the liability of an assignor to an assignee.
Recognize the various remedies available to the plaintiff in litigation as a result of defendant's breach of contract.
- List the ways in which a contract can be discharged.
- Distinguish between the effect of a rejected tender of payment and a rejected tender of performance.
- Define when time is of the essence.
- Compare performance to the satisfaction of the other contracting parties, performance to the satisfaction of a reasonable person, and substantial performance.
- State when a consumer contract may be rescinded by the consumer.
- Compare the discharge of a contract by rescission, cancellation, substitution, and novation.
- State the effect on a contract of the death or disability of one of the contracting parties.
- Define the concept of economic frustration.
Recognize the various methods to acquire ownership of personal property, as well as the advantages of certain types of ownership over others in varying factual situations.
- List and define the kinds of damages that may be recovered when a contract is broken.
- Describe the requirement of mitigation of damages.
- State when liquidated damages clauses are valid.
- State when liability-limiting clauses are valid.
- State when a breach of contract is waived.
- List the steps that may be used to prevent a waiver of breach of contract.
Demonstrate knowledge of the legal requirements or the formation of a bailment of personal property from the bailor to the bailee.
- Write a definition of personal property.
- Differentiate between patents, copyrights, trademarks, and trade secrets.
- List and explain the various types of gifts.
- Identify the four forms of multiple ownership of personal property.
- Set forth the remedies for violations of property rights.
Recognize the circumstances that justify imposing greater duties upon the bailor and/or the bailee, as well as greater rights than would otherwise exist in an ordinary bailment.
- Describe how a bailment is created.
- List and distinguish the various classifications of bailments.
- Contrast the renting of space with the creation of bailment.
- Explain the standard of care a bailee is required to exercise over bailed property.
- State the burden of proof when a bailor sues a bailee for damages to bailed property.
- Define a bailor's implied warranty concerning goods furnished by the bailor.
Perform writing tasks to promote the learning of all specific points of law herein.
- Differentiate between negotiable and nonnegotiable warehouse receipts.
- List the three types of carriers of goods.
- State the common carrier's liability for loss or damage to goods.
- Explain the effect of a sale on a consignment.
- Describe a hotelkeeper's liability for loss of a guest's property.
Demonstrate an introductory knowledge of the ways in which an individual can find current, applicable law, including but not limited to the use of the Internet for research.