Business Law 1

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Chapter 1 An Introduction to Dynamic Business Law

  1. 1) List the purposes of the law and discuss why these purposes are necessary for an ordered society. SHORT ANSWER ESSAY
  2. 2) Define the meaning of the term “stare decisis,” and discuss how it is applied. SHORT ANSWER ESSAY

Chapter 2 Business Ethics

  1. 3) Assume you are starting a new company. Write a code of ethics for the firm.
  2. 4) What does a reference to the “social responsibility of business” mean? Should businessesconsider community expectations, and why or why not? SHORT ANSWER ESSAY

Chapter 3 The U.S. Legal System

  1. 5) Rosalba, a resident of New Mexico, claims that Pet Food Company, Inc., put out some dog food that made her dog, Champ, sick. Champ is a prize-winning poodle. He survived the pet food fiasco only after traveling to a veterinarian in Florida specializing in poodles and only because he had two very expensive surgeries. Additionally, his ability to sire has been impaired, and Rosalba will earn no more breeding fees from Champ. Her damages are $100,000.00. Pet Food Company, Inc., is incorporated in Delaware, with its principle place of business in New Mexico. Rosalba asks you whether she can sue in federal court. What would you tell her and why? IRAC.
  2. 6) Discuss the items that should appear in a complaint. SHORT ANSWER ESSAY
  3. 7) Sonja ran her car over Hank in her company parking lot, breaking his leg. The accidentoccurred because Sonja’s car brakes failed without warning. Hank sues Sonja. Sonja decides to do nothing because she sees no way that she can win the lawsuit since she did strike Hank. Is she right? Why or why not? What would you suggest that she do in civil litigation? Why is it important that Sonja proceed correctly and in a timely manner at this point in the litigation? IRAC
  4. 8) While giving her new hoverboard a spin, Tasha bumped into Avram, knocking him down. He sues. Tasha is suspicious that he is not hurt as badly as he claims. What would Tasha want to know for trial, and how could she and her lawyer find out this necessary information? Fully discuss your answer and methods by which Tasha could obtain information. SHORT ANSWER ESSAY

Chapter 4 Alternative Dispute Resolution

9) How is arbitration preferable to litigation, and what are criticisms of arbitration as compared to litigation? SHORT ANSWER ESSAY

10) Under the Federal Arbitration Act, for which reasons may an arbitrator’s award be set aside? SHORT ANSWER ESSAY

Business Law 1

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