Assignment:
1. In planning a career in business management, which areas of the law (see Exhibit 1-1) would be most likely to affect you daily decisions-give examples.
2. How is common law created? Compare the creation and application of common law to constitutional, statutory and administrative law. Can common law be used to over-rule federal statutes?
3. Explain the difference between civil law and criminal law. Give examples for each.
4. Why is the doctrine of stare decisis very important when legal issues are judged in court?
5. Give examples how the Bill of Rights in the US Constitution applies to business owners.