COB 218 Lecture Notes - Lecture 1: Procedural Law, Legal Positivism, Natural And Legal Rights
Document Summary
Introduction: law consists of enforceable rules governing relationships among individuals and between individuals and rest of their society. Laws establish rights, duties, and privileges consistent with the value system of a society or of its ruling group. Business activities and the legal environment: many different laws affect a single business transaction, linking business law to the six functional fields of business. Human resource management: the role of law in a small business. The small business owner is the most general of managers. All of the different managerial roles of a small business owner are linked to the law. United states constitution is the supreme law of the land. Also found in case decisions and text arising from federal and state constitutions: statutory law. Laws enacted by the united states congress and by state legislatures. Uniform laws and codes, such as the uniform commercial code: administrative law.
