LS283 Chapter Notes - Chapter One : Joe Fresh, Promissory Note, Neutral Party
20 Sep 2017
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Document Summary
Chapter one: knowledge of the law as a business asset. Law in the business environment: law affects most if not all business decisions. Example: farmer matthew wants to start a chicken processing business, and he needs to. Protects business ideas and more tangible forms of property. Provides mechanisms that permit businesspeople to select their desired degree of participation and exposure to risk in business ventures. Seeks to ensure that losses are borne by those who are responsible for them. Facilitates planning by ensuring compliance with commitements: a lack of understanding of business law can lead to stolen ideas, a violation of human rights, and etcetera. Rules and principles: law: the set of rules and principles guiding conduct in society. Primarily by protecting persons and their property, facilitating personal and commercial interactions, and providing mechanisms for dispute resolution. Protecting persons and their property: the most familiar purpose of the law is to provide protection.
