The U.S. Legal System and Business
Presented by Hannah Beck
What Is Business Law?
"The enforceable rules of conduct that govern the actions of buyers and sellers in marketexchanges.'
What is business law? According to Dynamic Business Law by Nancy Kubasek, the definition of business law is "the enforceable rules of conduct that govern the actions of buyers and sellers in market exchanges." Business law is the very broad term for
a thriving market economy. Some of these other laws include employment law, administrative law, corporate law, and environmental law. Corporate management production and transportation, marketing, research and development, accounting and finance, and human resource management are the six functional areas of business and each one has a set foundation of business law.
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: To be able to depend on an expectation or promise : Alternative to fighting : Moral Guide
The Purpose
Business law has a great sense of purpose and a whole day could be spent discussing all the reasons business law exists, but for now, there are a few that are important to know. Business law provides a sense of control and security on what to expect for obligations and for promises to be kept. Contracts help make sure of this by two or
or products will be provided for everyone involved, and if the contract is breeched by any party, legal actions can be taken. If it were to come down to any type of conflict like a contract breech, discrimination, or problems with liabilites, business law provides guidelines on how to go about problems instead of fighting and without any type of moderator or the chance of a resolution never being found. It also provides a guide for morals to be followed within business practice such as not allowing discrimination against gender, race, or age, lunch breaks, and not allowing something to be sold that would be harmful towards anyone or anything
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