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Law of Commercial Transactions

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Law of Commercial Transactions

This textbook provides context and essential concepts across the entire range of legal issues with which managers and business executives must grapple. The text provides the vocabulary and legal acumen necessary for businesspeople to talk in an educated way to their customers, employees, suppliers, government officials—and to their own lawyers.

Civil LawBusiness
Author
Anonymous
Publisher
LibreTexts
Source
LibreTexts
License
CC BY-NC-SA
Language
EN
Category
Business Administration
Read online Download PDF (open licence)
Contents· 233 sections
  1. 01: Introduction to Law and Legal Systems
  2. 1.01: Introduction
  3. 1.02: What Is Law
  4. 1.03: Schools of Legal Thought
  5. 1.04: Basic Concepts and Categories of US Positive Law
  6. 1.05: Sources of Law and Their Priority
  7. 1.06: Legal and Political Systems of the World
  8. 1.07: A Sample Case
  9. 1.08: Summary and Exercises
  10. 02: Corporate Social Responsibility and Business Ethics
  11. 2.01: Introduction
  12. 2.02: What Is Ethics?
  13. 2.03: Major Ethical Perspectives
  14. 2.04: An Ethical Decision Model
  15. 2.05: Corporations and Corporate Governance
  16. 2.06: Summary and Exercises
  17. 03: Courts and the Legal Process
  18. 3.01: Cases
  19. 3.02: Introduction
  20. 3.03: The Relationship between State and Federal Court Systems in the United States
  21. 3.04: The Problem of Jurisdiction
  22. 3.05: Motions and Discovery
  23. 3.06: The Pretrial and Trial Phase
  24. 3.07: Judgment Appeal and Execution
  25. 3.08: When Can Someone Bring a Lawsuit
  26. 3.09: Relations with Lawyers
  27. 3.10: Alternative Means of Resolving Disputes
  28. 04: Constitutional Law and US Commerce
  29. 4.01: Introduction
  30. 4.02: Basic Aspects of the US Constitution
  31. 4.03: The Commerce Clause
  32. 4.04: Dormant Commerce Clause
  33. 4.05: Preemption- The Supremacy Clause
  34. 4.06: Business and the Bill of Rights
  35. 4.07: Cases
  36. 4.08: Summary and Exercises
  37. 05: Administrative Law
  38. 5.01: Introduction
  39. 5.02: Administrative Agencies- Their Structure and Powers
  40. 5.03: Controlling Administrative Agencies
  41. 5.04: The Administrative Procedure Act
  42. 5.05: Administrative Burdens on Business Operations
  43. 5.06: The Scope of Judicial Review
  44. 5.07: Cases
  45. 5.08: Summary and Exercises
  46. 06: Criminal Law
  47. 6.01: Introduction
  48. 6.02: The Nature of Criminal Law
  49. 6.03: Types of Crimes
  50. 6.04: The Nature of a Criminal Act
  51. 6.05: Responsibility
  52. 6.06: Procedure
  53. 6.07: Constitutional Rights of the Accused
  54. 6.08: Cases
  55. 6.09: Summary and Exercises
  56. 07: Introduction to Tort Law
  57. 7.01: Introduction
  58. 7.02: Purpose of Tort Laws
  59. 7.03: Intentional Torts
  60. 7.04: Negligence
  61. 7.05: Strict Liability
  62. 7.06: Cases
  63. 7.07: Summary and Exercises
  64. 08: Introduction to Contract Law
  65. 8.01: Introduction
  66. 8.02: General Perspectives on Contracts
  67. 8.03: Sources of Contract Law
  68. 8.04: Basic Taxonomy of Contracts
  69. 8.05: Cases
  70. 8.06: Summary and Exercises
  71. 09: The Agreement
  72. 9.01: Introduction
  73. 9.02: The Agreement in General
  74. 9.03: The Offer
  75. 9.04: The Acceptance
  76. 9.05: Cases
  77. 9.06: Summary and Exercises
  78. 10: Real Assent
  79. 10.01: Introduction
  80. 10.02: Duress and Undue Influence
  81. 10.03: Misrepresentation
  82. 10.04: Mistake
  83. 10.05: Capacity
  84. 10.06: Cases
  85. 10.07: Summary and Exercises
  86. 11: Consideration
  87. 11.01: Introduction
  88. 11.02: General Perspectives on Consideration
  89. 11.03: Legal Sufficiency
  90. 11.04: Promises Enforceable without Consideration
  91. 11.05: Cases
  92. 11.06: Summary and Exercises
  93. 12: Legality
  94. 12.01: Introduction
  95. 12.02: General Perspectives on Illegality
  96. 12.03: Agreements in Violation of Statute
  97. 12.04: Bargains Made Illegal by Common Law
  98. 12.05: Effect of Illegality and Exceptions
  99. 12.06: Cases
  100. 12.07: Summary and Exercises
  101. 13: Form and Meaning
  102. 13.01: Introduction
  103. 13.02: The Statute of Frauds
  104. 13.03: The Parol Evidence Rule
  105. 13.04: Interpretation of Agreements- Practicalities versus Legalities
  106. 13.05: Cases
  107. 13.06: Summary and Exercises
  108. 14: Third-Party Rights
  109. 14.01: Introduction
  110. 14.02: Assignment of Contract Rights
  111. 14.03: Delegation of Duties
  112. 14.04: Third-Party Beneficiaries
  113. 14.05: Cases
  114. 14.06: Summary and Exercises
  115. 15: Discharge of Obligations
  116. 15.01: Introduction
  117. 15.02: Discharge of Contract Duties
  118. 15.03: Cases
  119. 15.04: Summary and Exercises
  120. 16: Remedies
  121. 16.01: Introduction
  122. 16.02: Theory of Contract Remedies
  123. 16.03: Promisees Interests Protected by Contract
  124. 16.04: Legal Remedies- Damages
  125. 16.05: Equitable Remedies
  126. 16.06: Limitations on Contract Remedies
  127. 16.07: Cases
  128. 16.08: Summary and Exercises
  129. 17: Introduction to Sales and Leases
  130. 17.01: Introduction
  131. 17.02: Commercial Transactions- the Uniform Commercial Code
  132. 17.03: Introduction to Sales and Lease Law, and the Convention on Contracts for the International Sale of Goods
  133. 17.04: Sales Law Compared with Common-Law Contracts and the CISG
  134. 17.05: General Obligations under UCC Article 2
  135. 17.06: Cases
  136. 17.07: Summary and Exercises
  137. 18: Title and Risk of Loss
  138. 18.01: Introduction
  139. 18.02: Transfer of Title
  140. 18.03: Title from Nonowners
  141. 18.04: Risk of Loss
  142. 18.05: Cases
  143. 18.06: Summary and Exercises
  144. 19: Performance and Remedies
  145. 19.01: Introduction
  146. 19.02: Performance by the Seller
  147. 19.03: Performance by Buyer
  148. 19.04: Remedies
  149. 19.05: Excuses for Nonperformance
  150. 19.06: Cases
  151. 19.07: Summary and Exercises
  152. 20: Products Liability
  153. 20.01: Introduction
  154. 20.02: Introduction- Why Products-Liability Law Is Important
  155. 20.03: Warranties
  156. 20.04: Negligence
  157. 20.05: Strict Liability in Tort
  158. 20.06: Tort Reform
  159. 20.07: Cases
  160. 20.08: Summary and Exercises
  161. 21: Bailments and the Storage Shipment and Leasing of Goods
  162. 21.01: Introduction
  163. 21.02: Introduction to Bailment Law
  164. 21.03: Liability of the Parties to a Bailment
  165. 21.04: The Storage and Shipping of Goods
  166. 21.05: Negotiation and Transfer of Documents of Title (or Commodity Paper)
  167. 21.06: Cases
  168. 21.07: Summary and Exercises
  169. 22: Nature and Form of Commercial Paper
  170. 22.01: Introduction
  171. 22.02: Introduction to Commercial Paper
  172. 22.03: Scope of Article 3 and Types of Commercial Paper and Parties
  173. 22.04: Requirements for Negotiability
  174. 22.05: Cases
  175. 22.06: Summary and Exercises
  176. 23: Negotiation of Commercial Paper
  177. 23.01: Introduction
  178. 23.02: Transfer and Negotiation of Commercial Paper
  179. 23.03: Indorsements
  180. 23.04: Problems and Issues in Negotiation
  181. 23.05: Cases
  182. 23.06: Summary and Exercises
  183. 24: Holder in Due Course and Defenses
  184. 24.01: Introduction
  185. 24.02: Holder in Due Course
  186. 24.03: Defenses and Role in Consumer Transactions
  187. 24.04: Cases
  188. 24.05: Summary and Exercises
  189. 25: Liability and Discharge
  190. 25.01: Introduction
  191. 25.02: Liability Imposed by Signature- Agents, Authorized and Unauthorized
  192. 25.03: Contract Liability of Parties
  193. 25.04: Warranty Liability of Parties
  194. 25.05: Discharge
  195. 25.06: Cases
  196. 25.07: Summary and Exercises
  197. 26: Legal Aspects of Banking
  198. 26.01: Introduction
  199. 26.02: Banks and Their Customers
  200. 26.03: Electronic Funds Transfers
  201. 26.04: Wholesale Transactions and Letters of Credit
  202. 26.05: Cases
  203. 26.06: Summary and Exercises
  204. 27: Consumer Credit Transactions
  205. 27.01: Introduction
  206. 27.02: Entering into a Credit Transaction
  207. 27.03: Consumer Protection Laws and Debt Collection Practices
  208. 27.04: Cases
  209. 27.05: Summary and Exercises
  210. 28: Secured Transactions and Suretyship
  211. 28.01: Introduction
  212. 28.02: Introduction to Secured Transactions
  213. 28.03: Priorities
  214. 28.04: Rights of Creditor on Default and Disposition after Repossession
  215. 28.05: Suretyship
  216. 28.06: Cases
  217. 28.07: Summary and Exercises
  218. 29: Mortgages and Nonconsensual Liens
  219. 29.01: Introduction
  220. 29.02: Uses, History, and Creation of Mortgages
  221. 29.03: Priority, Termination of the Mortgage, and Other Methods of Using Real Estate as Security
  222. 29.04: Nonconsensual Lien
  223. 29.05: Cases
  224. 29.06: Summary and Exercises
  225. 30: Bankruptcy
  226. 30.01: Introduction
  227. 30.02: Introduction to Bankruptcy and Overview of the 2005 Bankruptcy Act
  228. 30.03: Case Administration; Creditors’ Claims; Debtors’ Exemptions and Dischargeable Debts; Debtor’s Estate
  229. 30.04: Chapter 7 Liquidation
  230. 30.05: Chapter 11 and Chapter 13 Bankruptcies
  231. 30.06: Alternatives to Bankruptcy
  232. 30.07: Cases
  233. 30.08: Summary and Exercises