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Table of Contents
About the Authors
Acknowledgments
Preface
1
Introduction to Law and Legal Systems
1.1
What Is Law?
1.2
Schools of Legal Thought
1.3
Basic Concepts and Categories of U.S. Law
1.4
Who Makes the Law
1.5
Legal and Political Systems of the World
1.6
A Sample Case
1.7
Summary and Exercises
2
Introduction to Corporate Social Responsibility and Business Ethics
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2.1
What Is Ethics?
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2.2
Major Ethical Perspectives
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2.3
An Ethical Decision Model
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2.4
Ethical Problems with Corporations and Corporate Governance
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2.5
Summary and Exercises
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3
Introduction to Courts and the Legal Process
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3.1
State and Federal Court Systems in the United States
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3.2
The Jurisdiction Issue
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3.3
The Pretrial and Trial Phases
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3.4
Judgment, Appeal, and Execution
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3.5
Alternative Means of Resolving Disputes
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3.6
Practical Considerations in Dispute Resolution
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3.7
Summary and Exercises
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4
Introduction to Constitutional Law and U.S. Commerce
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4.1
Basics of the U.S. Constitution
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4.2
The Commerce Clause
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4.3
Dormant Commerce Clause
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4.4
Preemption: The Supremacy Clause
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4.5
Business and the Bill of Rights
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4.6
Summary and Exercises
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5
Introduction to Administrative Law
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5.1
Agency Rationale, Creation, and Development
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5.2
Agency Processes and Powers
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5.3
Constraints on Agency Action
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5.4
Administrative Burdens on Business Operations
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5.5
Summary and Exercises
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6
Introduction to Criminal Law
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6.1
The Nature of Criminal Law
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6.2
Types of Crimes
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6.3
The Elements of Crime
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6.4
Criminal Procedure
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6.5
Constitutional Rights of the Accused
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6.6
Summary and Exercises
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7
Introduction to Tort Law
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7.1
Definition and Purpose of Tort and Tort Law
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7.2
Types of Torts: Intentional Torts
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7.3
Types of Torts: Negligence
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7.4
Types of Torts: Strict Liability
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7.5
Remedies in Tort, Limitations on Remedies, and Tort Reform
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7.6
Summary and Exercises
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8
Introduction to Contract Law
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8.1
General Perspectives on Contracts
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8.2
Sources of Contract Law
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8.3
Basic Taxonomy of Contracts
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8.4
Summary and Exercises
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9
Offer and Acceptance
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9.1
The Agreement in General
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9.2
The Offer
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9.3
The Acceptance
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9.4
Summary and Exercises
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10
Real Acceptance: Free Will, Knowledge, and Capacity
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10.1
Lack of Free Will: Duress and Undue Influence
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10.2
Misrepresentation
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10.3
Mistake
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10.4
Capacity
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10.5
Summary and Exercises
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11
Consideration
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11.1
General Perspectives on Consideration
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11.2
Legal Sufficiency
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11.3
Promises Enforceable without Consideration
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11.4
Summary and Exercises
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12
Legality
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12.1
General Perspectives on Illegality
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12.2
Agreements Made Illegal by Common Law
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12.3
Agreements Made Illegal by Statute
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12.4
Effect of Illegality and Exceptions
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12.5
Summary and Exercises
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13
Form and Meaning
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13.1
The Statute of Frauds
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13.2
The Parol Evidence Rule
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13.3
Interpretation of Agreements: Legalities Versus Practicalities
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13.4
Summary and Exercises
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14
Third-Party Rights
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14.1
Assignment of Contract Rights
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14.2
Delegation of Contract Duties
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14.3
Third-Party Beneficiaries
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14.4
Summary and Exercises
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15
Discharge of Common-Law Contract Obligations
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15.1
Discharge by Performance
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15.2
Discharge by Conditions
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15.3
Discharge by Agreement of the Parties
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15.4
Discharge by Difficulty of Performance
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15.5
Other Methods of Discharge
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15.6
Summary and Exercises
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16
Common-Law Remedies
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16.1
Theory of Contract Remedies
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16.2
Promisee’s Interests Protected by Contract
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16.3
Legal Remedies: Damages
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16.4
Equitable Remedies
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16.5
Limitations on Contract Remedies
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16.6
Summary and Exercises
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17
Bailments and the Storage, Shipment, and Leasing of Goods
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17.1
Introduction to Bailment Law
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17.2
Liability of the Parties to a Bailment
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17.3
The Storage and Shipping of Goods
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17.4
Negotiation and Transfer of Documents of Title (or Commodity Paper)
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17.5
Summary and Exercises
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18
Introduction to Sales and Leases
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18.1
Commercial Transactions: The Uniform Commercial Code
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18.2
Introduction to Sales and Lease Law, and the Convention on Contracts for the International Sale of Goods
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18.3
Sales Law Compared with Common-Law Contracts and the CISG
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18.4
General Obligations Under UCC Article 2
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18.5
Summary and Exercises
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19
Title and Risk of Loss
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19.1
Transfer of Title
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19.2
Title from Nonowners
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19.3
Risk of Loss
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19.4
Summary and Exercises
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20
Sales Contracts Performance and Remedies
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20.1
Sales: Performance by the Seller
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20.2
Sales: Performance by Buyer
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20.3
Sales: Excuses for Nonperformance
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20.4
Sales: Remedies
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20.5
Summary and Exercises
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21
Products Liability
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21.1
Introduction: Why Products Liability Law Is Important
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21.2
Warranties
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21.3
Negligence
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21.4
Strict Liability in Tort
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21.5
Tort Reform
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21.6
Summary and Exercises
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22
Nature and Form of Commercial Paper
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22.1
Introduction to Commercial Paper
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22.2
Scope of Article 3 and Types of Commercial Paper and Parties
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22.3
Requirements for Negotiability
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22.4
Summary and Exercises
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23
Negotiation of Commercial Paper
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23.1
Transfer and Negotiation of Commercial Paper
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23.2
Indorsements
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23.3
Problems and Issues in Negotiation
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23.4
Summary and Exercises
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24
Holder in Due Course and Defenses
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24.1
Holder in Due Course
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24.2
HDC Defenses and Rules in Consumer Transactions
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24.3
Summary and Exercises
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25
Liability and Discharge of Commercial Paper
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25.1
Liability Imposed by Signature: Agents, Authorized and Unauthorized
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25.2
Contract Liability of Parties
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25.3
Warranty Liability of Parties
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25.4
Discharge
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25.5
Summary and Exercises
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26
Legal Aspects of Banking
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26.1
Banks and Their Customers
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26.2
Electronic Funds Transfers
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26.3
Wholesale Transactions and Letters of Credit
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26.4
Summary and Exercises
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27
Consumer Credit Transactions
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27.1
Entering into a Credit Transaction
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27.2
Consumer Credit Protection Laws and Debt-Collection Practices
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27.3
Summary and Exercises
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28
Secured Transactions and Suretyship
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28.1
Introduction to Secured Transactions and to Attachment
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28.2
Perfection of the Security Interest
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28.3
Priorities
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28.4
Rights of Creditor on Default and Disposition after Repossession
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28.5
Suretyship
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28.6
Summary and Exercises
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29
Mortgages and Nonconsensual Liens
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29.1
Uses, History, and Creation of Mortgages
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29.2
Priority, Termination of the Mortgage, and Other Methods of Using Real Estate as Security
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29.3
Nonconsensual Liens
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29.4
Summary and Exercises
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30
Bankruptcy
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30.1
Introduction to Bankruptcy and Overview of the 2005 Bankruptcy Act
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30.2
Case Administration; Creditors’ Claims; Debtors’ Exemptions and Dischargeable Debts; Debtor’s Estate
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30.3
Chapter 7 Liquidation
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30.4
Chapter 11 and Chapter 13 Bankruptcies
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30.5
Alternatives to Bankruptcy
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30.6
Summary and Exercises
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31
Introduction to Property: Personal Property and Fixtures
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31.1
The General Nature of Property Rights
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31.2
Personal Property
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31.3
Fixtures
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31.4
Summary and Exercises
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32
Intellectual Property
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32.1
Patents
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32.2
Trade Secrets
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32.3
Copyright
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32.4
Trademarks
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32.5
Summary and Exercises
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33
Regulation of Real Estate
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33.1
Estates
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33.2
Rights in Land Ownership: Estates, Easements, Licenses
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33.3
Regulation of Land Use
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33.4
Summary and Exercises
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34
Environmental Law
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34.1
The Growth of Environmentalism
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34.2
Major Federal and State Legislation
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34.3
The Future of Environmentalism
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34.4
Summary and Exercises
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35
The Transfer of Real Estate by Sale
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35.1
Forms of Ownership
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35.2
Brokers, Contracts, Proof of Title, and Closing
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35.3
Adverse Possession
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35.4
Summary and Exercises
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36
Landlord and Tenant Law
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36.1
Types and Creation of Leasehold Estates
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36.2
Rights and Duties of Landlords and Tenants
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36.3
Landlord’s Tort Liability
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36.4
Summary and Exercises
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37
Estate Planning: Wills, Estates, and Trusts
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37.1
Wills and Estate Administration
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37.2
Trusts
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37.3
Factors Affecting Estates and Trusts
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37.4
Summary and Exercises
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38
Insurance
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38.1
Definitions and Types of Insurance
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38.2
Property Insurance, Liability Insurance, and Life Insurance
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38.3
Insurer’s Defenses
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38.4
Summary and Exercises
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39
Relationships Between Principal and Agent
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39.1
Introduction to Agency and the Types of Agents
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39.2
Duties Between Agent and Principal
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39.3
Summary and Exercises
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40
Liability of Principal and Agent; Termination of Agency
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40.1
Principal’s Tort and Criminal Liabilities
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40.2
Principal’s Contract Liability
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40.3
Agent’s Personal Liability for Torts and Contracts; Termination of Agency
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40.4
Summary and Exercises
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41
Partnerships: General Characteristics and Formation
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41.1
Introduction to Partnerships and Entity Theory
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41.2
Partnership Formation
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41.3
Summary and Exercises
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42
Partnership Operation and Termination
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42.1
Operation: Relations Among Partners
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42.2
Operation: The Partnership and Third Parties
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42.3
Dissolution and Winding Up
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42.4
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43
Hybrid Business Forms
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43.1
Limited Partnerships
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43.2
Limited Liability Companies
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43.3
Other Forms
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43.4
Summary and Exercises
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44
Corporation: General Characteristics and Formation
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44.1
Historical Background
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44.2
Partnerships versus Corporations
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44.3
The Corporate Veil: The Corporation as a Legal Entity
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44.4
Classifications of Corporations
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44.5
Corporate Organization
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44.6
Effect of Organization: Limited Liability
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44.7
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45
Legal Aspects of Corporate Finance
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45.1
Sources of Corporate Funds
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45.2
Types of Stock
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45.3
Initial Public Offerings and Consideration for Stock
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45.4
Dividends
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45.5
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46
Corporate Expansion, State and Federal Regulation of Foreign Corporations, and Corporate Dissolution
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46.1
Corporate Expansion
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46.2
Foreign Corporations
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46.3
Dissolution
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46.4
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47
Corporate Powers and Management
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47.1
Powers of a Corporation
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47.2
Rights of Shareholders
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47.3
Duties and Powers of Directors and Officers
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47.4
Liability of Directors and Officers
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47.5
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48
Securities Regulation
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48.1
Introduction to Securities Regulation
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48.2
Liability Under the Securities Laws
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48.3
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49
Antitrust Law
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49.1
History and Basic Framework of Antitrust Laws in the United States
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49.2
Horizontal and Vertical Restraints of Trade
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49.3
Sherman Act, Section 2: Monopolies and Monopolization
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49.4
Acquisitions and Mergers Under Section 7 of the Clayton Act
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49.5
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50
Unfair Trade Practices, the Federal Trade Commission, and Consumer Protection Laws
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50.1
The Federal Trade Commission and “Little FTCs”
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50.2
Deceptive Acts and Practices in Advertising
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Unfair Trade Practices
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50.4
Other Consumer Protection Laws and Remedies
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50.5
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51
Employment Law
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51.1
Employment at Will
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51.2
Labor-Management Relations
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Federal Employment Discrimination Laws
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Other Employment-Related Laws
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51.5
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52
International Law
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52.1
Introduction to International Law
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52.2
Sources of International Law
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52.3
Important Doctrines of Nation-State Jurisprudence
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52.4
Doing Business Internationally and Regulation of International Trade
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52.5
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53
Liability and Regulation of Accountants
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53.1
Why Regulation of Accountants Is Necessary
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53.2
Common-Law Liability
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53.3
Federal Statutory Liability
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53.4
State Regulation Affecting Accountants, and Other Duties Owed to Clients
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53.5
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