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Solution for Business Law 3rd Edition Chapter 1, Problem 1

by Nickolas James
128 Solutions 13 Chapters 13477 Studied ISBN: 9780730305743 Business Law 5 (1)

Chapter 1, Problem 1 : 1.How will knowledge about the law generally, and...

1.How will knowledge about the law generally, and about business law in particular, help you to succeed in your chosen career?

 

Step-By-Step Solution

See Business Lawpp 6-8.

The range of possible answers offered by students include the following:

Knowledge about law and ethics will help me to conduct myself in a manner that is not only legal but also ethical.

Knowledge about the Australian legal system will help me to better comprehend information presented in the media about Australian politics.

Knowledge about legal research will help me to more easily locate the relevant rules regulating my profession.

Knowledge about tort law will make me aware of the legal consequences of deliberately or carelessly causing harm to customers or employees.

Knowledge about contract law will help me to be aware of the point at which business negotiations lead to a legally binding contract.

Knowledge about competition law will make me aware of the distinction between acceptable and unacceptable levels of cooperation with the other participants in my industry.

Knowledge about intellectual property law will make it more likely that I will take the necessary steps to protect my intellectual creations such as trade marks.

Knowledge about partnership and corporations law will ensure that in the event I am a partner or a company director I am aware of my legal obligations to the organisation.

 

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