“Why do I need to know about law? Isn't that what lawyers are for?” This is like asking, “Why do I need to know about health? Isn't that what doctors are for?”

INTRODUCTION TO LAW FOR MANAGERS AND PROFESSIONALS

Sources of Business Law
Statutes, Regulations, and Treaties
The Common Law

Private Agreement

Contract Law

When do negotiations ripen into a contract?
Elements of an Enforceable Contract

Problems along the way, including Fraud, Mistake, and Duress

When does one need to get it in writing?

What closes the deal?

What is Enforceable in a Contract?

Contract Interpretation (e.g., it depends on what the meaning of "is" is).

The Perilous Parol Evidence Rule

Unconscionable Agreements

Legal vs. Illegal
Non-Compete Agreements

How Much Performance is Enough?

Excuses for Non-Performance, including Waiver and Impossibility and Force Majeur

How is a Contract Enforced?

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Statutes of Limitations
Remedies in General

The Normal Measure of Damages

When Can One Recover Punitive Damages?

The Concept of Efficient Breach of Contract

Alternative Remedies When the Contract is Unenforceable

Negligence and Its Defenses
What Constitutes Negligence?

Consequences of the Victim's Own Fault

Consequences of the Victim's Assumption of the Risk

Strict Liability

Defective Products
Ultra Hazardous Activities

Workers' Injuries

Wrongful Discharge

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At Will Employment
Improper Reasons for Termination
Recommendations for Avoiding Liability
Theft of Trade Secrets

What Secrets are Protected?
What are Trade Secrets Protected Against?
The Economic Espionage Act of 1996

Agency Law
The Essence of Agency Relationships
How to Form an Agency Relationship

Duties Owed by All Agents

Termination of the Relationship

The Liability of Companies for the Torts, Contracts, and Crimes of Managers and Employees
The Liability of Managers for the Torts, Contracts, and Crimes of Their Companies

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Selected Examples of Government Regulation of Business
Securities Regulation
When do the Securities Laws Apply?

The Securities Act of 1933

The Securities and Exchange Act of 1934

Insider Trading Law

The Foreign Corrupt Practices Act of 1977
Prohibited Bribes vs. Permitted Grease Payments

Accounting Requirements

The Resolution of Business Disputes

Litigation
The Process in a Nutshell

The Advantages and Disadvantages of Litigation

Alternatives to Litigation: Settlement,
Mediation,
Arbitration

Bankruptcy
Who Can File a Petition?

The Procedure

Creditors' Rights vs. Debtors' Protection

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