MGMT 200 Chapter 1: Reading 1: Introduction to Law Pages 1-36
Document Summary
Learning objective: understanding how and why businesses use the law to protect their assets and bring greater certainty to their relationships with their primary stakeholders. Constitution: all law must conform to the immutable principles of the constitution, but even in the constitution, not all principles are expressed, many implied, right of privacy not explicitly stated in constitution. In a nutshell, study of law is study of a moving target: some changes immediate, e. g. legislature responding to popular demand, some slower, courts structure to accommodate change slowly, reflective pace. Technology is leading to complex demands on legal system. Dispute over sale of parcel of land in which seller refused to transfer title. The king"s court, by tradition could only award monetary damages. The chancellor, (later administration of these hearings delegated to junior staff, courts of equity) could and would order seller to relinquish possession (b) us courts empowered to render either equitable or legal relief.
