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Overview

Our new text, The Legal Environment of Business, emphasizes students acquiring practical knowledge, not just memorizing concepts never to be used again. Our goal is to provide a book that students and professors will enjoy reading — a book that shows the relevancy of the law to current and future businesspeople.

  • In Consultation


    The book contains ten scenarios based on contemporary legal issues in business, featuring detailed conversations between a manager and the firm's lawyer about the legal problem the business is facing.
  • A Memo From Your Lawyer


    Several times in each chapter the authors give practical advice directly to the students concerning a legal issue examined in the chapter.
  • Practical Exercises


    Each chapter concludes with a situation that calls for students to prepare a written memo in response, using legal terms and concepts explained in the chapter.
  • Social/Ethical Issues


    Every chapter contains boxes asking the students to critically analyze the ethical, social, and public policy implications of certain legal principles and issues discussed in the chapter.
  • Excerpted Cases


    Three or four court cases are excerpted in each chapter that deal with relevant legal issues. These cases have been carefully edited to remove previously undefined legal terminology.
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Editorial Reviews

Booknews
In the 22 chapters, the authors discuss the global, legal, regulatory, political, and social environment of business; legal issues in business organizations; common law subjects and their contemporary dimensions; legal issues involving consumers, competitors, and suppliers; legal rights of consumers, debtors, and creditors; and employer/employee legal issues. Each chapter contains three or four court cases that deal with relevant issues. Annotation c. Book News, Inc., Portland, OR (booknews.com)
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Product Details

  • ISBN-13: 9780130194923
  • Publisher: Prentice Hall
  • Publication date: 7/6/2000
  • Edition number: 1
  • Pages: 805
  • Product dimensions: 7.99 (w) x 10.00 (h) x 0.44 (d)

Read an Excerpt

PREFACE:

PREFACE

Welcome to the study of legal issues in business. Just as business students must learn the basic principles of accounting, marketing, economics, finance, management, statistics, and information, so must they master the fundamental knowledge of critical legal and regulatory issues affecting business. As a result of the authors' combined 60 years of experience in teaching and practicing law, The Legal Environment of Business presents both practical and academic insight into the primary legal issues that businesspeople need to understand. We believe this text is one that students will read, understand, remember, enjoy, and most importantly, use in their present or future careers.

The Legal Environment of Business will not create lawyers, nor should it. Rather, it will help prepare businesspeople to recognize and avoid legal problems. If each student can avoid one legal problem in the future because of something learned here, this book will have made a worthwhile contribution to the student and to society. Our text will help students address legal problems when they arise, know when to call a lawyer and what to discuss, and know how to participate in the solutions to legal problems.

TARGET AUDIENCE

This textbook is primarily designed for business students who are beginning their study of law. Every aspect of this book has been developed to maximize the "real world" nature of the various legal principles presented. We have tried to take complex material and break it down into bite-sized chunks that can be easily digested. We are attempting to speak directly to the non-law student in a common-sense, practicalmanner. The coverage of important legal topics, while current and comprehensive, is clear and readable.

CONTENT COVERAGE AND ORGANIZATION

The Legal Environment of Business contains comprehensive coverage of private and public law topics. When possible, we have grouped subjects together in a manner that emulates their evolution as legal principles. For example, our discussion of contracts is followed by the discussion of laws of sales, warranties, and product liability, which represent modern adaptations and expansions of the earlier theories.

This practical approach allows us to demonstrate how and why topics in the law change over time. By doing this we better prepare students to become businesspeople who, by virtue of their understanding of legal evolution, are better prepared to anticipate and plan for future changes.

Among the key topics we address are the following:

  • Judicial and alternative forms of dispute resolution (Chapters 2 and 3)
  • The Constitution and business (Chapter 4), including recent court decisions that address the "Federalism" cases
  • International Law (Chapter 6), including detailed discussions of the European Union, NAFTA, and WTO
  • Business ethics (Chapter 7)
  • Agency and business organizations (Chapters 8 and 9), including treatment of limited liability partnerships and limited liability companies
  • Business torts and business crimes (Chapter 11)
  • Real, personal, and intellectual property (Chapter 14), including Internet and cyberspace legal issues
  • Environmental law (Chapter 15)
  • Employment law (Chapters 19, 20, 21, and 22), including extensive coverage of contemporary legal issues in employment, equal opportunity in employment, and labor management lave and regulations.

STUDENT-ORIENTED FEATURES

The Legal Environment of Business contains the following features to help students better understand and retain the material:

  • Learning Objectives and Outlines begin each chapter and help students organize the chapter content and highlight key content.
  • Key Terms are defined in the margin as they are introduced in the text and are included in the glossary at the end of the book.
  • Social /Ethical Issues boxes appear throughout the chapters and raise questions concerning current social and ethical controversies in the legal environment of business. These questions require critical thinking and analysis and are good vehicles for class discussion.
  • "A Memo from Your Lawyer" boxes offer practical advice concerning legal subjects covered in the chapters.
  • "In Consultation" features appear periodically throughout the text and offer students an opportunity to put themselves in business situations dealing with realistic legal issues.
  • Readings and Cartoons from The Wall Street Journal, U. S. News and World Report, EPA Journal, and other sources help to explain the law and demonstrate its relevance to the business world.
  • Cases were chosen and edited for each chapter (three and four per chapter) on the basis of relevance, interest, and when possible, currency. While some cases are very recent, others represent classic cases. Each case is one to two pages long and has a Facts/Decision/Case Questions format. The case questions raise several legal and ethical questions designed to assist students in analyzing the case. Unlike in some legal textbooks, the language used in the court cases (while often the court's own) is edited to ensure it includes only words and phrases explained elsewhere in the chapter.
  • End-of-Chapter Problems raise both legal and ethical issues. Questions often arise from actual court cases, and in those cases the citations are included for optional reference.
  • Practical Exercises offer a unique learning tool. One of these exercises appears at the end of each chapter and allows students to either independently or collaboratively analyze a hypothetical situation based on the material presented in the chapter. Use in our own classrooms has shown that these "learning-by-doing" exercises can significantly aid students' retention of the material.
  • Web sites of interest are listed at the end of each chapter, providing students with resources for additional exploration and study.

AACSB STANDARDS

The 1992 revision of the American Assembly of Collegiate Schools of Business (AACSB) standards state that the undergraduate and MBA curricula of all business colleges should provide the following:

    A(n) understanding of perspectives that form the context for business. Coverage should include
  • Ethical and global issues
  • The influence of political, social, legal and regulatory, environmental, and technological issues
  • The impact of demographic diversity on organizations

How does The Legal Environment of Business address these issues? First, we thoroughly cover ethical and global issues in law. Chapter 6, International Law, discusses the intricacies of doing business beyond the borders of the United States. Chapter 7 is dedicated to ethical theories and their relevance to corporate decision making. This chapter is practical in nature and shows students how to analyze and apply ethical principles to real business situations. Furthermore, both international and ethical issues are addressed in boxed features and cases within the chapters, as well as exercises at the end of each chapter.

Second, political, social, legal and regulatory, environmental, and technological issues are all discussed within relevant chapters. The use of an "evolution of legal topics" organization uniquely demonstrates the interrelationship of law and these other societal influences.

Finally, our emphasis on the practical application of law to the "real world" along with a complete examination of equal opportunity laws sensitizes students to issues involving diversity within organizations. In addition to coverage within the text narrative, issues involving diversity are presented in readings, feature boxes, and cases.

ACKNOWLEDGMENTS

The authors would like to express their appreciation to their families, first and foremost, without whose support, this text would not have been possible. In addition, we received wonderful support from Prentice Hall. Our thanks to Linda Schreiber, our editor, for shepherding us through the process, to Lynda Hansler (Prentice Hall) and Staci Schnurr (Elm Street Publishing Services), our production editors, for their superb handling of all of the production details, to Marilyn Stone, our copyeditor, for her obsessive attention to detail, and to Debbie Clare, our marketing manager, for her dedication to this project.

We would also like to thank our reviewers who have helped to make this book what it is. They are Elizabeth Cameron, Alma College; William McDevitt, St. Joseph's University; and Daphyne Saunders Thomas, James Madison University.

Michael Bixby
Caryn Beck-Dudley
Patrick Cihon

Read More Show Less

Table of Contents

I. THE GLOBAL, LEGAL, REGULATORY, POLITICAL, AND SOCIAL ENVIRONMENT OF BUSINESS.

1. Introduction to Law.
2. The Legal System in the United States.
3. Litigation—Going to Court.
4. The Constitution and Business.
5. Administrative Law and Regulation.
6. International Legal Issues in Business.
7. Business Ethics and Corporate Social Responsibility.

II. LEGAL ISSUES IN BUSINESS ORGANIZATIONS.

8. Principal-Agent Relationships and Partnerships.
9. Corporations.
10. Securities Law and Protection of Investors.
11. Business Torts and Crimes.

III. COMMON LAW SUBJECTS AND THEIR CONTEMPORARY DIMENSIONS.

12. Principles of Contract Law.
13. Warranty and Liability Issues in the Sale of Products.
14. Property: Real, Personal, and Intellectual.
15. Environmental Law and Regulation.

IV. LEGAL ISSUES INVOLVING CONSUMERS, COMPETITORS, AND SUPPLIERS.

16. Antitrust Law: The Regulation of Corporate Behavior and Structure.
17. Legal Rights of Consumers, Debtors, and Creditors.
18. Unfair and Deceptive Trade Practices and Advertising.

V. EMPLOYER/EMPLOYEE LEGAL ISSUES.

19. Contemporary Legal Issues in Employment.
20. Equal Employment Opportunity Law: Title VII.
21. Other Statutory Regulationof Employment.
22. Labor-Management Law and Regulation.
Appendix A. The Constitution of the United States.
Appendix B. Uniform Commercial Code (Excerpts) Sections 2-205, 207, 312, 313, 314, 315.
Appendix C. Uniform Partnership Act.
Appendix D. Revised Model Business Corporation Act as Amended in 1986 and 1987 (Excerpts).
Appendix E. The Clayton Act, as Amended by the Robinson-Patman Act (Excerpt).
Appendix F. The Sherman Act (Excerpts).
Appendix G. Text of the Civil Rights Act of 1964.
Appendix H. Text of the National Labor Relations Act (Excerpts).
Glossary.
Subject Index.
Case Index.
Read More Show Less

Preface

PREFACE:

PREFACE

Welcome to the study of legal issues in business. Just as business students must learn the basic principles of accounting, marketing, economics, finance, management, statistics, and information, so must they master the fundamental knowledge of critical legal and regulatory issues affecting business. As a result of the authors' combined 60 years of experience in teaching and practicing law, The Legal Environment of Business presents both practical and academic insight into the primary legal issues that businesspeople need to understand. We believe this text is one that students will read, understand, remember, enjoy, and most importantly, use in their present or future careers.

The Legal Environment of Business will not create lawyers, nor should it. Rather, it will help prepare businesspeople to recognize and avoid legal problems. If each student can avoid one legal problem in the future because of something learned here, this book will have made a worthwhile contribution to the student and to society. Our text will help students address legal problems when they arise, know when to call a lawyer and what to discuss, and know how to participate in the solutions to legal problems.

TARGET AUDIENCE

This textbook is primarily designed for business students who are beginning their study of law. Every aspect of this book has been developed to maximize the "real world" nature of the various legal principles presented. We have tried to take complex material and break it down into bite-sized chunks that can be easily digested. We are attempting to speak directly to the non-law student in a common-sense,practicalmanner. The coverage of important legal topics, while current and comprehensive, is clear and readable.

CONTENT COVERAGE AND ORGANIZATION

The Legal Environment of Business contains comprehensive coverage of private and public law topics. When possible, we have grouped subjects together in a manner that emulates their evolution as legal principles. For example, our discussion of contracts is followed by the discussion of laws of sales, warranties, and product liability, which represent modern adaptations and expansions of the earlier theories.

This practical approach allows us to demonstrate how and why topics in the law change over time. By doing this we better prepare students to become businesspeople who, by virtue of their understanding of legal evolution, are better prepared to anticipate and plan for future changes.

Among the key topics we address are the following:

  • Judicial and alternative forms of dispute resolution (Chapters 2 and 3)
  • The Constitution and business (Chapter 4), including recent court decisions that address the "Federalism" cases
  • International Law (Chapter 6), including detailed discussions of the European Union, NAFTA, and WTO
  • Business ethics (Chapter 7)
  • Agency and business organizations (Chapters 8 and 9), including treatment of limited liability partnerships and limited liability companies
  • Business torts and business crimes (Chapter 11)
  • Real, personal, and intellectual property (Chapter 14), including Internet and cyberspace legal issues
  • Environmental law (Chapter 15)
  • Employment law (Chapters 19, 20, 21, and 22), including extensive coverage of contemporary legal issues in employment, equal opportunity in employment, and labor management lave and regulations.

STUDENT-ORIENTED FEATURES

The Legal Environment of Business contains the following features to help students better understand and retain the material:

  • Learning Objectives and Outlines begin each chapter and help students organize the chapter content and highlight key content.
  • Key Terms are defined in the margin as they are introduced in the text and are included in the glossary at the end of the book.
  • Social /Ethical Issues boxes appear throughout the chapters and raise questions concerning current social and ethical controversies in the legal environment of business. These questions require critical thinking and analysis and are good vehicles for class discussion.
  • "A Memo from Your Lawyer" boxes offer practical advice concerning legal subjects covered in the chapters.
  • "In Consultation" features appear periodically throughout the text and offer students an opportunity to put themselves in business situations dealing with realistic legal issues.
  • Readings and Cartoons from The Wall Street Journal, U. S. News and World Report, EPA Journal, and other sources help to explain the law and demonstrate its relevance to the business world.
  • Cases were chosen and edited for each chapter (three and four per chapter) on the basis of relevance, interest, and when possible, currency. While some cases are very recent, others represent classic cases. Each case is one to two pages long and has a Facts/Decision/Case Questions format. The case questions raise several legal and ethical questions designed to assist students in analyzing the case. Unlike in some legal textbooks, the language used in the court cases (while often the court's own) is edited to ensure it includes only words and phrases explained elsewhere in the chapter.
  • End-of-Chapter Problems raise both legal and ethical issues. Questions often arise from actual court cases, and in those cases the citations are included for optional reference.
  • Practical Exercises offer a unique learning tool. One of these exercises appears at the end of each chapter and allows students to either independently or collaboratively analyze a hypothetical situation based on the material presented in the chapter. Use in our own classrooms has shown that these "learning-by-doing" exercises can significantly aid students' retention of the material.
  • Web sites of interest are listed at the end of each chapter, providing students with resources for additional exploration and study.

AACSB STANDARDS

The 1992 revision of the American Assembly of Collegiate Schools of Business (AACSB) standards state that the undergraduate and MBA curricula of all business colleges should provide the following:

    A(n) understanding of perspectives that form the context for business. Coverage should include
  • Ethical and global issues
  • The influence of political, social, legal and regulatory, environmental, and technological issues
  • The impact of demographic diversity on organizations

How does The Legal Environment of Business address these issues? First, we thoroughly cover ethical and global issues in law. Chapter 6, International Law, discusses the intricacies of doing business beyond the borders of the United States. Chapter 7 is dedicated to ethical theories and their relevance to corporate decision making. This chapter is practical in nature and shows students how to analyze and apply ethical principles to real business situations. Furthermore, both international and ethical issues are addressed in boxed features and cases within the chapters, as well as exercises at the end of each chapter.

Second, political, social, legal and regulatory, environmental, and technological issues are all discussed within relevant chapters. The use of an "evolution of legal topics" organization uniquely demonstrates the interrelationship of law and these other societal influences.

Finally, our emphasis on the practical application of law to the "real world" along with a complete examination of equal opportunity laws sensitizes students to issues involving diversity within organizations. In addition to coverage within the text narrative, issues involving diversity are presented in readings, feature boxes, and cases.

ACKNOWLEDGMENTS

The authors would like to express their appreciation to their families, first and foremost, without whose support, this text would not have been possible. In addition, we received wonderful support from Prentice Hall. Our thanks to Linda Schreiber, our editor, for shepherding us through the process, to Lynda Hansler (Prentice Hall) and Staci Schnurr (Elm Street Publishing Services), our production editors, for their superb handling of all of the production details, to Marilyn Stone, our copyeditor, for her obsessive attention to detail, and to Debbie Clare, our marketing manager, for her dedication to this project.

We would also like to thank our reviewers who have helped to make this book what it is. They are Elizabeth Cameron, Alma College; William McDevitt, St. Joseph's University; and Daphyne Saunders Thomas, James Madison University.

Michael Bixby
Caryn Beck-Dudley
Patrick Cihon

Read More Show Less

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  • Anonymous

    Posted December 17, 2002

    Boise State University Review

    I found this book really helpful in studying for the exams. It saved me the trouble of re-reading the text when all I needed was a summary. Too bad none of the online bookstores are selling it, I'd let someone buy mine!

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