Breach of contract

This course reviews the U.S. legal system, common law and its development, organizational structures, and the regulatory environment pertinent to business. Students will learn to critically examine torts, crimes, and business ethics. They will also examine contracts; business associations including agencies, partnerships, and corporations; wills, estates, trusts, and other legal entities; securities regulations; and investor protections.


Faculty and students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents:

• University policies: You must be logged into the student website to view this document. • Instructor policies: This document is posted in the Course Materials forum.

University policies are subject to change. Be sure to read the policies at the beginning of each class. Policies may be slightly different depending on the modality in which you attend class. If you have recently changed modalities, read the policies governing your current class modality.

Course Materials

Melvin, S. P. (2011). The legal environment of business: A managerial approach: Theory to practice. New York, NY: McGraw-Hill/Irwin.

All electronic materials are available on the student website.

Week Four Discussion Questions

• How does the UCC define a good? How does the UCC define a merchant? How are the UCC requirements different for a merchant versus a nonmerchant? Provide examples.

• What are the UCC principles of good faith and reasonableness to sales contracts? What are the different ways that title transfers under UCC Article 2? Which party bears the risk? What distinguishes a sale on approval, sale on consignment, and sale or return under UCC Article 2?

• What are the remedies for contract breach available under UCC Article 2? What are the types of warranties available under UCC Article 2? How do you differentiate between implied and express warranties under UCC Article 2? Provide examples.

Week Five Discussion Questions

• Section 22-5, “White-Collar Crime,” in Ch. 22 addresses several forms of white-collar crime including that of the Ponzi scheme. Also in that section is a “Business Ethics Perspective” vignette titled “Epic Fraud: Bernie Madoff’s Multibillion-Dollar Ponzi Scheme.” What does this example tell you