Upon successful completion of this course, participants will be able to: State the ordering of the sources of law. Specify the meaning of full faith and credit. Describe the different types of dispute settlement systems. Specify how the concept of strict liability works. Specify the characteristics of intellectual property. Identify the statutes governing the protection of trade secrets. Recall the process for obtaining a patent. Specify the different types of crimes. Describe the different types of fraud crimes. Specify the elements of a valid contract. Specify when an offer has been accepted. Recall the requirements to prove that there was fraud in a contract. Recall the rules pertaining to mistakes in contracts. Specify when a contract is considered to be unconscionable. Identify the rules pertaining to the evidence of terms relating to a contract. Recall the rules pertaining to the assignment of contractual rights. Recall the criteria for when a sales contract has been formed. Specify the conditions under which a seller can demand the return of goods. Identify the criteria for when a buyer is assumed to have accepted goods. Recall the rules relating to express and implied warranties. Specify the types of warranties that a merchant provides to its buyers. Identify the types of delays associated with the availability of cash from a check. Recall the characteristics of a special indorsement. Specify the warranties related to negotiable instruments. Identify the defenses against the payment of a negotiable instrument. Recall how a mechanic's lien works. Specify how a surety arrangement works. Identify the circumstances under which a lender can seize the property of a borrower. Recall the conditions for creating a security interest in a borrower's personal property. Specify the priority of claims in a credit arrangement. Identify the tasks imposed on a creditors' committee in bankruptcy proceedings. Recall the criteria for initiating an involuntary bankruptcy. Specify the priorities for fund payouts in a bankruptcy. Identify the criteria for an individual to qualify for a Chapter 7 bankruptcy filing. State the duties of a principal and agent. Recall when an agency agreement can be terminated. Specify when a principal can be held liable for the actions of an agent. Identify when an agent can be held liable for a contract. Recall the provisions of the various statutes governing labor law. Specify the goal of an affirmative action program. Identify the purpose of the federal agencies involved in labor law issues. Recall the reasons why someone would want to join a labor union. Specify how a union certification process can be shortened. Identify how an unfair labor practice claim can be filed. Recall the advantages and disadvantages of the various business types. Specify what a limited partner is allowed to do in a limited partnership. Identify the purpose of a buy-and-sell arrangement. Recall the purpose of an indenture agreement. Specify the criteria for the filing of a short-swing profit lawsuit. Identify the reasons for the existence of blue sky laws. Recall when the exemptions to the securities laws can and cannot be used to raise money. Specify the thresholds required for a Hart-Scott-Rodino filing. Identify how the failing company doctrine works. Recall the different types of franchising arrangements. Specify the requirements for blocking a proposed merger due to anticompetitive effects. Identify the different types of real property ownership arrangements.

The Legal Environment Liability Intellectual Property White-Collar Crime Introduction to Contracts Sales Contracts Warranties Negotiable Instruments Credit Transactions Types of Bankruptcy Agency Relationships Labor Laws Business Types Corporate Governance Business Financing Corporate Acquisitions Inter-Company Arrangements Government Regulation Personal Property and Real Property