Credit Unit 3 Introduction

Credit Unit 3 address Employment Law, Criminal Law and Business, as well as Business Organizations.  

Employment law also known as labor law, regulations that are typically designed to protect the employee from the employer. For example, though a number of Constitutional amendments give equal rights to all races, religions, and genders, issues pertaining to diversity still plague the workforce. Employment law looks at these issues. 

Like torts, criminal law deals with what happens when an individual or group of individuals commits a wrong against another individual or group of individuals. However, criminal laws are enforceable through prosecution by the state. Criminal law pertains to the direct violation of an existing law. In criminal law cases, there is a prosecution, a defense, and, in many cases, a jury of peers. This Credit Unit will focus on criminal law in the business community.

Corporations are legal entities that protect shareholders from certain legal liabilities. For example, if you start a sole proprietorship and take out a small business loan to get started, you are personally liable for that loan. If you do not repay the loan, the bank can pursue your personal assets. If you are a shareholder in a corporation that fails to pay its loans, however, the bank cannot pursue your personal assets.

Being a corporation has its own caveats. For example, corporations are subject to more regulations and fees. This Credit Unit will look into the various types of business entities in the United States and weigh the pros and cons of each. We will emphasize corporations because most of us will end up working for them.

Credit Unit Outcomes:

  • Explain the origins of the American legal system.
  • Apply elements of law to specific individual and business scenarios.
  • Understand the requirements for a valid contract and apply those requirements to specific contractual activities.
  • Recognize the interconnectedness of the legal system to business, society, and the environment.
  • Explain the impact of the uniform commercial code, UCC, on the business environment.

Last modified: Tuesday, 29 May 2018, 1:46 PM