Uncategorized

Part 1 Explain what topic you found most interesting about business law and why.  How have

Part 1 Explain what topic you found most interesting about business law and why.  
How have your ideas and perceptions changed about business law and its scope after taking this course?
How will you use the information you learned in this course in your personal and professional life?
Part 2Read Scenario 1 and offer additional suggestions for how the business law concepts covered in this course may be used in their personal and professional lives.
Part 3 Read Scenario 2 and offer additional suggestions for how the business law concepts covered in this course may be used in their personal and professional lives.
Scenario 1 Amy found contract law to be the most interesting topic in this course. Amy never realized how many different ways there are to get yourself into a contract and how the courts decide what is actually considered a binding contract. Coming in at a very close second would be learning about tort law. Amy had never even heard of it before and didn’t realize there was a separation between that and product liability. She definitely sees business law in a brighter spectrum and realizes nothing is black and white when dealing with issues of the law.
 In her past business ownerships she never knew any of this information and luckily, never had any legal issues that came up at the time. The knowledge she has acquired with this course will be very helpful in the future, no matter what path she chooses to follow. Contracts are something people deal with every day whether they are business owners or not. Understanding the details of such interactions can save you money and headaches. Workplace law’s responsibilities are also another aspect of the law that many employees don’t think about. These laws are in place not only to protect the employer but the employee as well. At the beginning of this course, she really didn’t think much of this would apply to her, as she is not a business owner and has no interest in becoming a lawyer, but as the term progressed she realized how many different parts of the law affect everyone, every day.
Scenario 2Sana learned about how business law impacts her everyday life, both personally and professionally. In the past she didn’t think that business law had much effect on her or her business that she may run in the future; She wants to be a landlord and own properties. But now she sees that businesses regularly engage in all kinds of actions that must hold fast to certain laws and policies. Now she knows that entering contracts, manufacturing things, selling things, and even where you operate your business are all very serious topics that have to be broached carefully and with a keen focus on the law. As she moves forward with her career, she will better understand the impact of where the company does business, how it offers the business (product and or service) and the impact on the jurisdiction, and where the person or entity resides who is receiving the product or service. It makes it especially important to further understand local laws.She learned that in business law the rules of jurisdiction are very important. She needs to know what courts have jurisdiction over her and her future business. She learned that it’s very important to know whether a valid contract exists. It isn’t enough to just say you will do something, there needs to be an agreement, consideration, contractual capacity, and a legal object. She’ll use this to help her with dealing with contractors in her future real estate career. Lastly, she learned that there are a few main types of business entities that she can create her business under. She thinks starting out she will be a sole proprietorship, but in time she may take on a partner, and then she will have to decide which entity would be right for them depending on the tax implications and how much liability they want to take on.