BLAW 2200- Final Exam Guide - Comprehensive Notes for the exam ( 40 pages long!)
30 Nov 2017
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Blaw 2200: chapter 1: law: rules of an organized society, business law: enforceable rules of conduct that govern commercial relationships. Functional areas of business affected by business law: corporate management, production and transportation, marketing, research and development, accounting and finance, human resource management. Purpose of law: providing order of dependency or reliance, serving as an alternative to altercation, facilitating a sense that change is possible, encouraging social justice, guaranteeing personal freedoms, serving as a moral guide. Major federal administrative agencies: independent, freer from executive control, executive, under executive branch. Justice (fairness: receive the products of your labor (to be paid for the services you provide, equality, provision of resources, the right to own things, efficiency, maximize wealth, get the most from an output, minimize cost. Stakeholders: people effected by business decisions: consumers, owners or investors, management, employees, community, future generations. Blaw 2200: chapter 3: trial court (lowest, appeals/appellate court (middle, supreme court (highest) court of last resort.
