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Appendix A

Business Law

 The judiciary is the court system, the brand of government responsible for settling disputes under the law.
General jurisdiction courts, trial courts hear a wide range of cases
Both criminal and civil U.S. District Courts Circuit Courts Superior Courts, Common Plea Courts, District Courts

Lower probate courts settle estates and small claims.

 The appeals process allows a higher court to review the case and correct any lower court error.
Both federal and state systems have appellate courts. Appeals from decisions of the U.S. circuit courts of appeals can go all the ay to the nations highest court The U.S. Supreme Court.

 U.S. Tax Court U.S. Court of Claims Administrative Agencies

Bureaus, Commissions, Boards Decide cases at all government levels Derive power from state and federal statues

 Law standards set by government. Common Law law arising from judicial decisions.

Statutory Law written law, state and federal constitutions, legislative enactments, treaties and ordinances.
International Law regulations that govern international commerce. Business Law law that influences the management of business activity.

 Antitrust and Business Regulation

Guard against monopolies Protecting employment USA Patriot Act

Business Deregulation
Strong deregulation push in the 1970s Utilities, airlines Led to lower prices

 Numerous laws have been passed to protect consumers in the past 100 years.
Consumer Product Safety Commission Food and Drug Administration Amendments Act of 2007

Many recent events/concerns have required updates to existing laws.

 Employees must be protected from unfair practices by employers. Employment law should be a large area of concern for employers.
Fair Labor Standards Act (1938) OSHA Act (1970) American with Disabilities Act (1991) Family and Medical Leave Act (1993) Uniformed Services Employment & Reemployment Rights Act (1994) American Jobs Creation Act (2004) Pension Protection Act (2006)

Securities Exchange Act (1934) Bank Secrecy Act (1970)

Sarbanes-Oxley Act (2002)

 Computer Fraud and Abuse Act (1986) Childrens Online Privacy Protection Act (1998 Identity Theft and Assumption Deterrence Act (1998) Anticybersquatting Consumer Protection Act (1999) Homeland Security Act (2002) Amendments to the Telemarketing Sales Rules (2003) Check Clearing for the 21st Century Act (2003)

 Contract Requirements
Agreement Consideration Capacity Legal and Serious Purpose

Breach of Contract violation of a valid contract Law of Agency one party, the principal is agreed to be represented by an agent

Basis for Most U.S. Business Law

Sales Law
Sale of goods and services for money or credit

Warranties
Warranties relied to sales transactions, either implied or express.

Negotiable Instruments
Commercial paper like checks.

 Property rights are protected by the U.S. Constitution.

Tangible Personal Property Intangible Personal Property Real Property

Bailment is the surrender of personal property by one person to another.

 Trademark words, symbols or other designations used by a firm.

The Landham Act (1946) provides for registration of trademarks.

Patent guarantees an inventor exclusive rights to an invention Copyright protect written or printed material.

 Torts may be intentional or caused by negligence.

Product liability is specific tort law that holds businesses liable for product negligence.

Multiple Plaintiffs Efficient Processing under one lawsuit

Class-Action Fairness Act of 2005

Bankruptcy is the legal nonpayment of financial obligations Personal Bankruptcy

More difficult under the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005

Business Bankruptcy
Mismanagement, plunging sales and changes in the marketplace can drive a business to bankruptcy.

 Federal, state and local governments and special taxing authorities all levy taxes:
Income Sales Business Receipts Property Assets