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1、The Legal Environment of Business Spring 2018 Professor Deepa Varadarajan Class 1 Introduction What is the Law Administrative Matters Attendance Professionalism Textbook The Legal Environment of Business Online Commerce Business Ethics and Global Issues by Henry Cheeseman 8th ed 2016 Reading Assignm
2、ents Office Hours By appointment dvaradarajan gsu edu Room 1138 11th floor RCB 35 Broad Street Grades Academic Honesty http codeofconduct gsu edu Broad Objectives 1 Be more aware of the complexity and unpredictability of the law 2 Have a greater appreciation of the role of law and the courts in bala
3、ncing legitimate competing interests of the parties 3 Be more sensitive to ethical issues confronting business 4 Communicate effectively about legal and ethical issues 5 Evaluate legal arguments and evidence to apply legal doctrine to solve business problems 6 Explain how law can be used strategical
4、ly as a tool to reduce or manage business risk Course Trajectory Part I Foundational topics Definitions sources of law Ethics and the social responsibility of businesses State and federal courts procedural issues Part II The commercial environment Intellectual property Business organizations Contrac
5、t law Part III The regulatory environment Tort law products liability Agency law Employment law What is law Law in its generic sense is a body of rules of action or conduct prescribed by controlling authority and having binding legal force That which must be obeyed and followed by citizens subject t
6、o sanctions or legal consequences is a law Black s Law Dictionary There are multiple sources of law What is law Law comes from multiple sources E g Federal and state constitutions federal and state statutes judicial decisions administrative regulations international treaties municipal ordinances Law
7、 is everywhere Law is ambiguous complex changeable open to interpretation Sources of Law Basics Sources of law Legislative branch Makes laws by passing broad forward looking statutes also commonly called legislation Eg From this date the sale and possession of methamphetamine will be illegal Sources
8、 of law Executive branch Enforces laws passed by Congress Congress and the President delegate authority to government agencies to enforce regulate certain areas E g the Environmental Protection Agency Regulatory agencies also have a rule making function For example the EPA issues environmental regul
9、ations that industries have to follow The area of law related to agency rule making is called administrative law Sources of law Judicial branch Adjudicates disputes that arise under existing laws The court s role is specific and backward looking E g You Ms X sold methamphetamine in violation of fede
10、ral narcotics laws US has a common law system Judges make law Sources of law Co equal branches of government No clear hierarchy no branch is automatically stronger than the other Example of the interplay between branches Courts can strike down a legislative statute if it is unconstitutional In certa
11、in contexts legislatures can pass statutes that overrule judge made law Court System Federal and State Courts Federal Appellate Courts Courts of Appeal by Circuit Court System Federal and State Courts Court System Federal and State Courts Judges issue written opinions decisions What s in a judicial opinion Facts of the dispute Relevant legal principles How the legal principles apply to the facts of the case and leads to the judge s disposition of the case Majority and dissenting opinion in the same case Next Class Ch 1 pp 2 5 11 16
