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Smith & Roberson's Business Law 18th edition [Hardback]

(The University of North Carolina at Chapel Hill), (The University of North Carolina at Chapel Hill)
  • Formāts: Hardback, 1320 pages, height x width x depth: 48x223x259 mm, weight: 2517 g
  • Izdošanas datums: 10-Mar-2022
  • Izdevniecība: South-Western College Publishing
  • ISBN-10: 0357364007
  • ISBN-13: 9780357364000
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  • Formāts: Hardback, 1320 pages, height x width x depth: 48x223x259 mm, weight: 2517 g
  • Izdošanas datums: 10-Mar-2022
  • Izdevniecība: South-Western College Publishing
  • ISBN-10: 0357364007
  • ISBN-13: 9780357364000
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Trust SMITH & ROBERSON'S BUSINESS LAW, 18E for today's most complete, credible presentation of business law -- now updated with content that reflects the latest developments and emerging trends. This comprehensive book details business law with coverage that helps you prepare for the certified public accountant (CPA) exam's business law area within the regulation section. This edition's cases blend landmark and current decisions with edits to preserve the language of the court. More than 200 figures, diagrams and summaries further clarify fundamental concepts, principles, and rules of law that apply to business transactions. You gain insights into the function and operation of courts and administrative agencies and learn to recognize potential legal problems in business today.
Preface xiv
Table of Cases
xix
Table of Illustrations
xxii
PART 1 The Legal Environment of Business
1(170)
1 Introduction to Law
2(12)
Nature of Law
2(2)
Classification of Law
4(1)
Sources of Law
5(4)
Legal Analysis
9(2)
Chapter Summary
11(1)
Cases
12(2)
2 Business Ethics and the Social Responsibility of Business
14(28)
Law Versus Ethics
15(1)
Ethical Theories
15(3)
Ethical Standards in Business
18(1)
Ethical Responsibilities of Business
19(1)
Corporate Governance
20(3)
Chapter Summary
23(1)
Cases
24(1)
Questions
24(2)
Business Ethics Cases
26(16)
3 Civil Dispute Resolution
42(25)
The Court System
42(1)
The Federal Courts
42(2)
State Courts
44(1)
Jurisdiction
45(1)
Subject Matter Jurisdiction
45(2)
Jurisdiction Over the Parties
47(2)
Civil Dispute Resolution
49(1)
Civil Procedure
50(3)
Alternative Dispute Resolution
53(4)
Chapter Summary
57(2)
Cases
59(5)
Questions
64(1)
Case Problems
65(1)
Taking Sides
66(1)
4 Constitutional Law
67(23)
Basic Principles of Constitutional Law
68(1)
Powers of Government
69(3)
Limitations on Government
72(5)
Chapter Summary
77(1)
Cases
78(8)
Questions
86(1)
Case Problems
86(3)
Taking Sides
89(1)
5 Administrative Law
90(17)
Operation of Administrative Agencies
91(3)
Limits on Administrative Agencies
94(2)
Chapter Summary
96(1)
Cases
97(6)
Case Problems
103(3)
Taking Sides
106(1)
6 Criminal Law
107(18)
Nature of Crimes
107(3)
White-Collar Crime
110(1)
Crimes Against Business
111(3)
Defenses to Crimes
114(1)
Criminal Procedure
115(2)
Chapter Summary
117(1)
Cases
118(4)
Questions
122(1)
Case Problems
123(1)
Taking Sides
124(1)
7 Intentional Torts
125(22)
Intent
126(1)
Harm to the Person
127(2)
Harm to the Right of Dignity
129(2)
Harm to Property
131(1)
Harm to Economic Interests
132(2)
Defenses to Intentional Torts
134(1)
Chapter Summary
135(1)
Cases
136(6)
Questions
142(1)
Case Problems
143(3)
Taking Sides
146(1)
8 Negligence and Strict Liability
147(24)
Negligence
148(1)
Breach of Duty of Care
148(5)
Factual Cause
153(1)
Scope of Liability (Proximate Cause)
153(1)
Harm
154(1)
Defenses to Negligence
155(2)
Strict Liability
157(1)
Activities Giving Rise to Strict Liability
157(1)
Defenses to Strict Liability
158(1)
Chapter Summary
159(1)
Cases
160(7)
Questions
167(1)
Case Problems
168(2)
Taking Sides
170(1)
PART 2 Contracts
171(200)
9 Introduction to Contracts
172(18)
Development of the Law of Contracts
172(2)
Definition of a Contract
174(1)
Requirements of a Contract
174(1)
Classification of Contracts
175(3)
Promissory Estoppel
178(1)
Quasi Contracts or Restitution
178(1)
Chapter Summary
179(1)
Cases
180(6)
Questions
186(1)
Case Problems
186(3)
Taking Sides
189(1)
10 Mutual Assent
190(23)
Offer
190(1)
Essentials of an Offer
191(2)
Duration of Offers
193(3)
Acceptance of Offer
196(1)
Communication of Acceptance
197(1)
Variant Acceptances
198(2)
Chapter Summary
200(1)
Cases
201(7)
Questions
208(2)
Case Problems
210(2)
Taking Sides
212(1)
11 Conduct Invalidating Assent
213(21)
Duress
213(1)
Undue Influence
214(1)
Fraud
214(3)
Nonfraudulent Misrepresentation
217(1)
Mistake
218(2)
Chapter Summary
220(1)
Cases
221(7)
Questions
228(1)
Case Problems
229(4)
Taking Sides
233(1)
12 Consideration
234(20)
Legal Sufficiency
234(5)
Bargained-For Exchange
239(1)
Contracts without Consideration
240(3)
Chapter Summary
243(1)
Cases
244(5)
Questions
249(2)
Case Problems
251(2)
Taking Sides
253(1)
13 Illegal Bargains
254(21)
Violations of Statutes
254(2)
Violations of Public Policy
256(2)
Effect of Illegality
258(1)
Chapter Summary
259(1)
Cases
260(10)
Questions
270(1)
Case Problems
271(3)
Taking Sides
274(1)
14 Contractual Capacity
275(15)
Minors
275(3)
Incompetent Persons
278(1)
Intoxicated Persons
278(1)
Chapter Summary
279(1)
Cases
280(6)
Questions
286(1)
Case Problems
287(2)
Taking Sides
289(1)
15 Contracts in Writing
290(25)
Statute of Frauds
290(1)
Contracts within the Statute of Frauds
291(5)
Compliance with the Statute of Frauds
296(1)
Effect of Noncompliance
297(1)
Parol Evidence Rule
298(1)
The Rule
298(1)
Situations to Which the Rule Does Not Apply
298(1)
Supplemental Evidence
299(1)
Interpretation of Contracts
299(2)
Chapter Summary
301(2)
Cases
303(7)
Questions
310(1)
Case Problems
311(3)
Taking Sides
314(1)
16 Third Parties to Contracts
315(19)
Assignment of Rights
315(4)
Delegation of Duties
319(1)
Third-Party Beneficiary Contracts
320(2)
Chapter Summary
322(2)
Cases
324(5)
Questions
329(1)
Case Problems
330(3)
Taking Sides
333(1)
17 Performance, Breach, and Discharge
334(18)
Conditions
334(2)
Discharge by Performance
336(1)
Discharge by Breach
336(2)
Discharge by Agreement of the Parties
338(1)
Discharge by Operation of Law
339(2)
Chapter Summary
341(2)
Cases
343(4)
Questions
347(2)
Case Problems
349(2)
Taking Sides
351(1)
18 Contract Remedies
352(19)
Interests Protected by Contract Remedies
352(1)
Monetary Damages
352(4)
Remedies in Equity
356(1)
Restitution
357(1)
Limitations on Remedies
358(1)
Remedies for Misrepresentation
359(2)
Chapter Summary
361(1)
Cases
362(5)
Questions
367(2)
Case Problems
369(1)
Taking Sides
370(1)
PART 3 Agency
371(50)
19 Relationship of Principal and Agent
372(23)
Nature of Agency
372(2)
Creation of Agency
374(1)
Duties of Agent to Principal
375(3)
Duties of Principal to Agent
378(2)
Termination of Agency
380(2)
Chapter Summary
382(2)
Cases
384(7)
Questions
391(1)
Case Problems
392(2)
Taking Sides
394(1)
20 Relationship with Third Parties
395(26)
Relationship of Principal and Third Persons
395(1)
Contract Liability of Principal
395(6)
Tort Liability of Principal
401(3)
Criminal Liability of Principal
404(1)
Relationship of Agent and Third Persons
405(1)
Contract Liability of Agent
405(2)
Tort of Liability of Agent
407(1)
Rights of Agent Against Third Person
407(1)
Chapter Summary
407(2)
Cases
409(7)
Questions
416(1)
Case Problems
417(2)
Taking Sides
419(2)
PART 4 Sales
421(114)
21 Introduction to Sales and Leases
422(22)
Nature of Sales and Leases
422(1)
Definitions
423(1)
Fundamental Principles of Article 2 and Article 2A
424(3)
Formation of Sales and Lease Contracts
427(1)
Manifestation of Mutual Assent
427(2)
Consideration
429(2)
Form of the Contract
431(2)
Chapter Summary
433(1)
Cases
434(6)
Questions
440(1)
Case Problems
441(2)
Taking Sides
443(1)
22 Performance
444(21)
Performance by the Seller
444(5)
Performance by the Buyer
449(2)
Obligations of Both Parties
451(3)
Chapter Summary
454(1)
Cases
455(5)
Questions
460(1)
Case Problems
461(3)
Taking Sides
464(1)
23 Transfer of Title and Risk of Loss
465(19)
Transfer of Title
465(4)
Risk of Loss
469(3)
Sales of Goods in Bulk
472(2)
Chapter Summary
474(1)
Cases
475(6)
Questions
481(1)
Case Problems
482(1)
Taking Sides
483(1)
24 Products Liability: Warranties and Strict Liability in Tort
484(27)
Warranties
484(1)
Types of Warranties
485(2)
Obstacles to Warranty Actions
487(3)
Strict Product Liability in Tort
490(1)
Requirements of Strict Liability
491(2)
Obstacles to Recovery Under Second Restatement
493(1)
Restatement (Third) of Torts: Products Liability
494(2)
Chapter Summary
496(2)
Cases
498(8)
Questions
506(1)
Case Problems
507(3)
Taking Sides
510(1)
25 Sales Remedies
511(24)
Remedies of the Seller
512(4)
Remedies of the Buyer
516(4)
Contractual Provisions Affecting Remedies
520(2)
Chapter Summary
522(2)
Cases
524(6)
Questions
530(1)
Case Problems
531(3)
Taking Sides
534(1)
PART 5 Negotiable Instruments
535(88)
26 Form and Content
536(16)
Negotiability
536(2)
Types of Negotiable Instruments
538(2)
Formal Requirements of Negotiable Instruments
540(5)
Chapter Summary
545(1)
Cases
546(3)
Questions
549(1)
Case Problems
550(1)
Taking Sides
551(1)
27 Transfer and Holder in Due Course
552(31)
Transfer
552(1)
Negotiation
552(3)
Indorsements
555(4)
Holder in Due Course
559(1)
Requirements of a Holder in Due Course
559(4)
Holder in Due Course Status
563(1)
The Preferred Position of a Holder in Due Course
563(3)
Limitations Upon Holder in Due Course Rights
566(3)
Chapter Summary
569(2)
Cases
571(7)
Questions
578(2)
Case Problems
580(2)
Taking Sides
582(1)
28 Liability of Parties
583(19)
Contractual Liability
583(1)
Signature
583(2)
Liability of Primary Parties
585(1)
Liability of Secondary Parties
585(3)
Termination of Liability
588(1)
Liability Based on Warranty
589(1)
Warranties on Transfer
589(1)
Warranties on Presentment
590(3)
Chapter Summary
593(1)
Cases
594(5)
Questions
599(1)
Case Problems
600(1)
Taking Sides
601(1)
29 Bank Deposits, Collections, and Funds Transfer
602(21)
Bank Deposits and Collections
602(1)
Collection of Items
602(4)
Relationship between Payor Bank and its Customer
606(2)
Electronic Fund Transfer
608(1)
Types of Electronic Funds Transfer
609(1)
Consumer Funds Transfer
609(2)
Wholesale Funds Transfer
611(3)
Chapter Summary
614(1)
Cases
615(4)
Questions
619(2)
Case Problems
621(1)
Taking Sides
622(1)
PART 6 Unincorporated Business Associations
623(82)
30 Formation and Internal Relations of General Partnerships
624(24)
Choosing a Business Association
624(1)
Factors Affecting the Choice
625(1)
Forms of Business Associations
626(2)
Formation of General Partnerships
628(1)
Nature of Partnership
628(1)
Formation of a Partnership
629(3)
Relationships Among Partners
632(1)
Duties Among Partners
632(2)
Rights Among Partners
634(4)
Chapter Summary
638(2)
Cases
640(5)
Questions
645(1)
Case Problems
646(1)
Taking Sides
647(1)
31 Operation and Dissolution of General Partnerships
648(27)
Relationship of Partnership and Partners with Third Parties
648(1)
Contracts of Partnership
648(3)
Torts and Crimes of Partnership
651(1)
Notice to a Partner
652(1)
Liability of Incoming Partner
652(1)
Dissociation and Dissolution of General Partnerships under the RUPA
652(1)
Dissociation
652(1)
Dissolution
653(2)
Dissociation without Dissolution
655(1)
Dissolution of General Partnerships under the UPA
656(1)
Dissolution
656(2)
Winding Up
658(1)
Continuation after Dissolution
658(1)
Chapter Summary
659(2)
Cases
661(9)
Questions
670(3)
Case Problems
673(1)
Taking Sides
674(1)
32 Limited Partnerships and Limited Liability Companies
675(30)
Limited Partnerships
675(6)
Limited Liability Companies
681(5)
Other Types of Unincorporated Business Associations
686(1)
Chapter Summary
687(4)
Cases
691(9)
Questions
700(1)
Case Problems
701(1)
Taking Sides
702(3)
PART 7 Corporations
705(100)
33 Nature, Formation, and Powers
706(24)
Nature of Corporations
707(1)
Corporate Attributes
707(1)
Classification of Corporations
708(2)
Formation of a Corporation
710(1)
Organizing the Corporation
710(2)
Formalities of Incorporation
712(2)
Recognition or Disregard of Corporateness
714(1)
Defective Incorporation
714(1)
Piercing the Corporate Veil
715(1)
Corporate Powers
716(1)
Sources of Corporate Powers
716(1)
Ultra Vires Acts
717(1)
Liability for Torts and Crimes
717(1)
Chapter Summary
718(2)
Cases
720(5)
Questions
725(1)
Case Problems
726(3)
Taking Sides
729(1)
34 Financial Structure
730(23)
Debt Securities
731(1)
Authority to Issue Debt Securities
731(1)
Types of Debt Securities
731(1)
Equity Securities
732(1)
Issuance of Shares
732(3)
Classes of Shares
735(1)
Dividends and Other Distributions
736(1)
Types of Dividends and Other Distributions
737(1)
Legal Restrictions on Dividends and Other Distributions
738(3)
Declaration and Payment of Distributions
741(1)
Liability for Improper Dividends and Distributions
741(1)
Chapter Summary
742(1)
Cases
743(6)
Questions
749(1)
Case Problems
750(2)
Taking Sides
752(1)
35 Management Structure
753(32)
Corporate Governance
753(3)
Role of Shareholders
756(1)
Voting Rights of Shareholders
756(4)
Enforcement Rights of Shareholders
760(1)
Role of Directors and Officers
761(1)
Function of the Board of Directors
762(1)
Election and Tenure of Directors
763(1)
Exercise of Directors' Functions
764(1)
Officers
765(1)
Duties of Directors and Officers
766(4)
Chapter Summary
770(1)
Cases
771(10)
Questions
781(1)
Case Problems
782(2)
Taking Sides
784(1)
36 Fundamental Changes
785(20)
Amendments to the Articles of Incorporation
785(1)
Combinations
786(5)
Dissolution
791(2)
Chapter Summary
793(1)
Cases
794(6)
Questions
800(1)
Case Problems
801(2)
Taking Sides
803(2)
PART 8 Debtor and Creditor Relations
805(66)
37 Secured Transactions and Suretyship
806(33)
Secured Transactions in Personal Property
806(1)
Essentials of Secured Transactions
807(1)
Classification of Collateral
807(2)
Attachment
809(2)
Perfection
811(3)
Priorities Among Competing Interests
814(4)
Default
818(2)
Suretyship
820(1)
Nature and Formation
820(2)
Duties of Surety
822(1)
Rights of Surety
823(1)
Defenses of Surety and Principal Debtor
823(3)
Chapter Summary
826(3)
Cases
829(5)
Questions
834(2)
Case Problems
836(2)
Taking Sides
838(1)
38 Bankruptcy
839(32)
Federal Bankruptcy Law
839(1)
Case Administration--Chapter 3
840(2)
Creditors, the Debtor, and the Estate--Chapter 5
842(5)
Liquidation--Chapter 7
847(4)
Reorganization--Chapter 11
851(3)
Adjustment of Debts of Individuals--Chapter 13
854(2)
Creditors' Rights and Debtor's Relief Outside of Bankruptcy
856(1)
Creditors' Rights
856(1)
Debtors Relief
857(1)
Chapter Summary
858(2)
Cases
860(6)
Questions
866(1)
Case Problems
867(2)
Taking Sides
869(2)
PART 9 Regulation of Business
871(202)
39 Protection of Intellectual Property
872(23)
Trade Secrets
872(2)
Trade Symbols
874(3)
Trade Names
877(1)
Copyrights
878(2)
Patents
880(3)
Chapter Summary
883(1)
Cases
884(7)
Questions
891(1)
Case Problems
892(2)
Taking Sides
894(1)
40 Antitrust
895(24)
Sherman Act
895(6)
Clayton Act
901(2)
Robinson-Patman Act
903(1)
Federal Trade Commission Act
904(2)
Chapter Summary
906(1)
Cases
907(8)
Questions
915(1)
Case Problems
916(2)
Taking Sides
918(1)
41 Consumer Protection
919(28)
State and Federal Consumer
Protection Agencies
919(5)
Consumer Purchases
924(3)
Consumer Credit Transactions
927(5)
Creditors Remedies
932(1)
Chapter Summary
933(2)
Cases
935(7)
Questions
942(1)
Case Problems
943(3)
Taking Sides
946(1)
42 Employment Law
947(36)
Labor Law
947(2)
Employment Discrimination Law
949(6)
Employee Protection
955(4)
Chapter Summary
959(1)
Cases
960(17)
Questions
977(1)
Case Problems
978(4)
Taking Sides
982(1)
43 Securities Regulation
983(38)
Securities Act of 1933
985(1)
Definition of a Security
985(1)
Registration of Securities
986(2)
Exempt Securities
988(1)
Exempt Transactions for Issuers
988(5)
Exempt Transactions for Nonissuers
993(2)
Liability
995(1)
Securities Exchange Act of 1934
996(1)
Disclosure
997(5)
Liability
1002(6)
Chapter Summary
1008(2)
Cases
1010(8)
Questions
1018(1)
Case Problems
1019(1)
Taking Sides
1020(1)
44 Accountants' Legal Liability
1021(14)
Common Law
1021(3)
Federal Securities Law
1024(3)
Chapter Summary
1027(1)
Cases
1028(4)
Questions
1032(1)
Case Problems
1033(1)
Taking Sides
1034(1)
45 Environmental Law
1035(20)
Common Law Actions for
Environmental Damage
1035(1)
Nuisance
1035(1)
Trespass to Land
1036(1)
Strict Liability for Abnormally Dangerous Activities
1036(1)
Problems Common to Private Causes of Action
1036(1)
Federal Regulation of the Environment
1036(1)
The National Environmental Policy Act
1037(1)
The Clean Air Act
1038(2)
The Clean Water Act
1040(2)
Hazardous Substances
1042(4)
International Protection of the Ozone Layer
1046(1)
Chapter Summary
1047(1)
Cases
1048(4)
Questions
1052(1)
Case Problems
1052(2)
Taking Sides
1054(1)
46 International Business Law
1055(18)
The International Environment
1055(2)
Jurisdiction Over Actions of Foreign Governments
1057(2)
Transacting Business Abroad
1059(5)
Forms of Multinational Enterprises
1064(1)
Chapter Summary
1065(2)
Cases
1067(3)
Questions
1070(1)
Case Problems
1071(1)
Taking Sides
1072(1)
Part 10 Property
1073
47 Introduction to Property, Property Insurance, Bailments, and Documents of Title
1074(27)
Introduction to Property and Personal Property
1074(1)
Kinds of Property
1075(1)
Transfer of Title to Personal Property
1076(2)
Property Insurance
1078(1)
Fire and Property Insurance
1078(1)
Nature of Insurance Contracts
1079(2)
Bailments and Documents of Title
1081(1)
Bailments
1081(4)
Documents of Title
1085(2)
Chapter Summary
1087(3)
Cases
1090(5)
Questions
1095(3)
Case Problems
1098(2)
Taking Sides
1100(1)
48 Interests in Real Property
1101(20)
Freehold Estates
1101(2)
Leasehold Estates
1103(4)
Concurrent Ownership
1107(2)
Nonpossessory Interests
1109(3)
Chapter Summary
1112(1)
Cases
1113(5)
Questions
1118(1)
Case Problems
1119(1)
Taking Sides
1120(1)
49 Transfer and Control of Real Property
1121(18)
Transfer of Real Property
1121(1)
Contract of Sale
1121(1)
Deeds
1122(2)
Secured Transactions
1124(2)
Adverse Possession
1126(1)
Public and Private Controls
1126(1)
Zoning
1126(1)
Eminent Domain
1127(1)
Private Restrictions Upon Land Use
1128(1)
Chapter Summary
1129(2)
Cases
1131(4)
Questions
1135(1)
Case Problems
1136(2)
Taking Sides
1138(1)
50 Trusts and Decedents' Estates
1139
Trusts
1139(1)
Types of Trusts
1139(2)
Creation of Express Trusts
1141(1)
Termination of a Trust
1142(1)
Decedents' Estates
1143(1)
Wills
1143(4)
Intestate Succession
1147(1)
Administration of Estates
1147(1)
Chapter Summary
1148(2)
Cases
1150(5)
Questions
1155(2)
Case Problems
1157(1)
Taking Sides
1158
Appendices
1(1)
Appendix A The Constitution of the United States of America
2
Appendix B Dictionary of Legal Terms
1(1)
Index 1
Richard A. Mann, J.D., received a Bachelor of Science in mathematics from the University of North Carolina at Chapel Hill and a Juris Doctor from Yale Law School. He is professor emeritus of business law at the Kenan-Flagler Business School, University of North Carolina at Chapel Hill, and is past president of the Southeastern Regional Business Law Association. Professor Mann is a member of Who's Who in America, Who's Who in American Law, and the North Carolina Bar (inactive). He has written extensively, covering a number of legal topics including bankruptcy, sales, secured transactions, real property, insurance law and business associations. Professor Mann has received the American Business Law Journal's award both for the best article and for the best comment and has served as a reviewer and staff editor for the publication. He is the co-author of SMITH & ROBERSON'S BUSINESS LAW, BUSINESS LAW AND THE REGULATION OF BUSINESS, ESSENTIALS OF BUSINESS LAW AND THE LEGAL ENVIRONMENT, and CONTEMPORARY BUSINESS LAW. Barry S. Roberts, J.D., LL.M., received a Bachelor of Science in business administration from Pennsylvania State University, a Juris Doctor from the University of Pennsylvania, and a Master of Laws degree from Harvard Law School. He served as a judicial clerk for the Pennsylvania Supreme Court prior to practicing law in Pittsburgh. Professor Roberts is professor emeritus of business law at the Kenan-Flagler Business School, University of North Carolina at Chapel Hill, and he is a member of Who's Who in American Law and the North Carolina and Pennsylvania Bars (inactive). He has written numerous articles on such topics as antitrust, products liability, constitutional law, banking law, employment law and business associations. Professor Roberts has been a reviewer and staff editor for the American Business Law Journal. He is the co-author of SMITH & ROBERSON'S BUSINESS LAW, BUSINESS LAW AND THE REGULATION OF BUSINESS, ESSENTIALS OF BUSINESS LAW AND THE LEGAL ENVIRONMENT, and CONTEMPORARY BUSINESS LAW.