1. Using the appropriate legal terminology, assess the procedural framework of the American legal system and, from the perspective of a business, the costs and benefits of the options available for dispute resolution. For example, should every business contract contain a provision for mandatory arbitration? Assess the costs and benefits to the corporation; appraise the costs and benefits to the consumer. Give examples to support your position.
2. Focusing on the fundamental principles of business law and providing examples, discuss the Constitutional basis of American law as the authority under which businesses must operate. Specifically, what do you think: Is viewing a corporation as a “person” with Constitutional rights and responsibilities a benefit or a detriment to the corporation? Is it a benefit or a detriment to society? Defend each conclusion with contemporary examples from your own experience or the general business arena.