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Packed with reader-friendly illustrations, ESSENTIALS OF BUSINESS LAW AND THE LEGAL ENVIRONMENT, 12e uses a nontechnical presentation to help your students understand the dynamics of today's legal environment for business. Covering a broad variety of key subjects and emphasizing ethical decision making, the text presents all business law topics required for success on the CPA exam. Cases are carefully summarized and integrated in order to present both recent legal issues and landmark court decisions while minimizing legal jargon. Students learn to effectively apply legal reasoning to cases and legal issues using the Issue, Rule, Application and Conclusion (IRAC) method. In addition to new "Going Global" features that highlight the international aspects of legal issues, the 12th Edition also includes more than 30 recent cases, updated coverage of limited liability companies and suretyship, amendments to UCC Articles, SEC rules on social media, recent U.S. Supreme Court decisions, and much more.
- Going Global: International business law content is now integrated throughout the text. New "Going Global" features have been added to 14 chapters (1, 3, 6, 9, 15, 19, 20, 30, 34, 38, 39, 40, 41, and 42), enabling students to consider the international aspects of legal issues as they are covered. In addition, Chapter 46 is still fully devoted to international business law.
- New Cases: More than 30 recent cases have been incorporated into the text, illustrating the most current examples of the legal aspects of real-world business.
- Expanded: Coverage of limited liability companies and suretyship has been updated and expanded.
- Updated: The 2012 amendments to UCC Article 4A has been added to Chapter 27, Bank Deposits, Collections, and Funds Transfers.
- Expanded: Chapter 37, Secured Transactions and Suretyship covers the most significant provisions of the 2010 amendments to UCC Article 9.
- Updated: Chapter 39, Securities Regulation now covers the Jumpstart Our Business Startups Act of 2012, the Stop Trading on Congressional Knowledge Act of 2012, and the U.S. Securities and Exchange Commission's new disclosure rules clarifying how companies can use social media to disseminate information.
- Updated: Chapter 40, Intellectual Property includes the changes made by the Foreign and Economic Espionage Penalty Enhancement Act of 2012.
- Recent U.S. Supreme Court Decisions: Chapter 4, Constitutional Law discusses recent U.S. Supreme Court's decisions in the cases challenging the constitutionality of the Patient Protection and Affordable Care Act; the Defense of Marriage Act; a federal statute restricting how much money an individual donor may contribute in total during a political cycle; and Michigan's constitutional amendment banning affirmative action in admissions to the state's public universities.
- Restatement of Restitution: Chapters 9, 11, 13, 14, 15, 17, and 18 cover the new Restatement (Third) of Restitution and Unjust Enrichment.
- Insightful Illustrations: The text includes more than 220 classroom-tested figures, diagrams, charts, tables, and chapter summaries. The figures and diagrams help students conceptualize the many abstract concepts in the law. Charts and tables summarize prior discussions as well as help illustrate relationships among legal rules. In addition, each chapter has a summary in the form of an annotated outline of the entire chapter, including key terms.
- Applying the Law: Teach your students how to effectively apply legal reasoning to cases and legal issues using the Issue, Rule, Application and Conclusion (IRAC) method. Students sharpen their skills as each feature depicts a realistic situation that focuses on a single chapter's concept. The "Applying the Law" feature appears in 14 chapters.
- Ethics Coverage: At the end of Chapter 2, a series of Business Ethics case studies require students to make the value trade-offs that confront business people in their professional lives. More than half of the chapters also contain an "Ethical Dilemma" feature that presents a managerial situation involving ethical issues. A series of questions leads students to explore the ethical dimensions of each situation. To provide further application of ethics in different business contexts, an ethics question follows many cases. These questions are designed to encourage students to consider the ethical dimensions of the facts in the case or of the legal issue invoked by the facts.
- Critical Thinking Activities: Guide students in examining legal policies or reasoning surrounding a court's decision and strengthen their analytical skills with Critical Thinking Questions that follow every chapter case. The end-of-chapter Questions, Case Problems, and Taking Sides challenge students to apply chapter concepts to realistic hypothetical and case-based situations. Corresponding answers in the Instructor Manual make it easier to clarify supporting concepts.
- Practical Advice: Each chapter contains practical advice statements that illustrate how legal concepts can be applied to common business situations.
- Business Law in Action: Numerous chapters include a "Business Law in Action" scenario that illustrates the application of legal concepts to business situations that commonly arise.
1. Introduction to Law.
2. Business Ethics.
Part II: THE LEGAL ENVIRONMENT OF BUSINESS.
3. Civil Dispute Resolution.
4. Constitutional Law.
5. Administrative Law.
6. Criminal Law.
7. Intentional Torts.
8. Negligence and Strict Liability.
Part III: CONTRACTS.
9. Introduction to Contracts.
10. Mutual Assent.
11. Conduct Invalidating Assent.
13. Illegal Bargains.
14. Contractual Capacity.
15. Contracts in Writing.
16. Third Parties to Contracts.
17. Performance, Breach, and Discharge.
18. Contract Remedies.
Part IV: SALES.
19. Introduction to Sales and Leases.
21. Transfer of Title and Risk of Loss.
22. Product Liability: Warranties and Strict Liability.
23. Sales Remedies.
Part V: NEGOTIABLE INSTRUMENTS.
24. Form and Content.
25. Transfer and Holder in Due Course.
26. Liability of Parties.
27. Bank Deposits, Collections, and Funds Transfers.
Part VI: AGENCY.
28. Relationship of Principal and Agent.
29. Relationship with Third Parties.
Part VII: BUSINESS ASSOCIATIONS.
30. Formation and Internal Relations of General Partnerships.
31. Operation and Dissolution of General Partnerships.
32. Limited Partnerships and Limited Liability Companies.
33. Nature and Formation of Corporations.
34. Financial Structure of Corporations.
35. Management Structure of Corporations.
36. Fundamental Changes of Corporations.
Part VIII: DEBTOR AND CREDITOR RELATIONS.
37. Secured Transactions and Suretyship.
Part IX: REGULATION OF BUSINESS.
39. Securities Regulation.
40. Intellectual Property.
41. Employment Law.
43. Accountants' Legal Liability.
44. Consumer Protection.
45. Environmental Law.
46. International Business Law.
Part X: PROPERTY.
47. Introduction to Property, Property Insurance, Bailments, and Documents of Title.
48. Interests in Real Property.
49. Transfer and Control of Real Property.
50. Trusts and Wills.
APPENDIX A: The Constitution of the United States of America.
APPENDIX B: Uniform Commercial Code (Selected Provisions).
APPENDIX C: Dictionary of Legal Terms.
Cengage provides a range of supplements that are updated in coordination with the main title selection. For more information about these supplements, contact your Learning Consultant.
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