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Business Law Today

R o g e r L e R oy M i l l e r Institute for University Studies

Arlington, Texas

Australia • Brazil • Mexico • Singapore • United Kingdom • United States

11th Edition

S ta n da R d E d i t i o n Te x T & Summ arized C a SeS

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Printed in the United States of America Print Number: 01 Print Year: 2015

Business Law Today Standard Edition TEXT & SUMMARIZED CASES 11th Edition

Roger LeRoy Miller

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Unit 1 The Legal Environment of Business 1 1 The Legal Environment 2 2 Constitutional Law 31 3 Courts and Alternative Dispute Resolution 55 4 Tort Law 89 5 Product Liability 118 6 Intellectual Property Rights 138 7 Internet Law, Social Media, and Privacy 162 8 Criminal Law and Cyber Crime 184 9 Business Ethics 216

Unit 2 Contracts and E-Contracts 243 10 Nature and Classification 244 11 Agreement 261 12 Consideration, Capacity, and Legality 285 13 Defenses to Contract Enforceability 309 14 Third Party Rights and Discharge 331 15 Breach and Remedies 356 16 International Law in a Global Economy 374

Unit 3 Commercial Transactions 397 17 The Formation of Sales and Lease Contracts 398 18 Performance and Breach of Sales and Lease Contracts 433 19 Negotiable Instruments 460 20 Banking in the Digital Age 491 21 Security Interests and Creditors’ Rights 514 22 Bankruptcy 541

Unit 4 Agency and Employment Law 573 23 Agency Relationships in Business 574 24 Employment, Immigration, and Labor Law 601 25 Employment Discrimination 629

Unit 5 Business Organizations 657 26 Sole Proprietorships and Franchises 658 27 All Forms of Partnership 675 28 Limited Liability Companies and Special Business Forms 697 29 Corporations 715 30 Investor Protection, Insider Trading,

and Corporate Governance 747

Unit 6 Government Regulation 777 31 Antitrust Law and Promoting Competition 778 32 Consumer and Environmental Law 802 33 Liability of Accountants and Other Professionals 830

Unit 7 Property and Its Protection 855 34 Personal Property and Bailments 856 35 Real Property and Landlord-Tenant Law 877 36 Insurance, Wills, and Trusts 899

APPENDICES A How to Brief Cases and Analyze Case Problems A-1 B The Constitution of the United States A-3 C The Uniform Commercial Code (Excerpts) A-11 D Answers to Issue Spotters A-130 E Answers to Even-Numbered Learning

Objectives Check Questions A-136

F Sample Answers for Business Case Problems with Sample Answer A-144

G Case Excerpts for Case Analysis Questions A-152 Glossary G-1

Table of Cases TC-1

Index I-1

Contents in Brief

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Contents

Unit 1 the LegaL environment of BUsiness 1 Chapter 1 The Legal Environment 2 Business Activities and the Legal Environment 3

Sources of American Law 5

Common Law Tradition 9 ◾◾ Adapting the Law to the Online Environment: Can New Laws Prevent People from Wearing Google Glass? 12 ◾◾ Landmark in the Law: Equitable Principles and Maxims 14

Classifications of Law 15 ◾◾ Beyond Our Borders: National Law Systems 16 ◾◾ Linking Business Law to Corporate Management: Dealing with Administrative Law 18

Appendix to Chapter 1 22

Chapter 2 Constitutional Law 31 The Constitutional Powers of Government 32

◾◾ Landmark in the Law: Gibbons v. Ogden (1824) 33

ClassiC Case 2.1: Heart of Atlanta Motel v. United States 34

Business and the Bill of Rights 37 ◾◾ Beyond Our Borders: The Impact of Foreign Law on the United States Supreme Court 39

spotlight on Beer laBels: Case 2.2: Bad Frog Brewery, Inc. v. New York State Liquor Authority 41

◾◾ Adapting the Law to the Online Environment: Should Threats Made on Facebook Be Considered Free Speech? 43

Case 2.3: Holt v. Hobbs 45

Due Process and Equal Protection 45

Privacy Rights 48 ◾◾ Managerial Strategy: Marriage Equality and the Constitution 49 ◾◾ Business Application: Is “Pretexting” Illegal? 51

Chapter 3 Courts and Alternative Dispute Resolution 55 The Judiciary’s Role in American Government 56

Basic Judicial Requirements 56 ◾◾ Landmark in the Law: Marbury v. Madison (1803) 57

spotlight on guCCi: Case 3.1: Gucci America, Inc. v. Wang Huoqing 62

The State and Federal Court Systems 64 ◾◾ Managerial Strategy: Budget Cuts for State Courts Can Affect Businesses 65 ◾◾ Beyond Our Borders: Islamic Law Courts Abroad and at Home 66

Following a State Court Case 69

Case 3.2: Brothers v. Winstead 72 ◾◾ Adapting the Law to the Online Environment: Jurors’ Use of Wireless Devices and the Internet 76

Courts Online 78

Alternative Dispute Resolution 78

Case 3.3: Cruise v. Kroger Co. 82

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Chapter 4 Tort Law 89 The Basis of Tort Law 89

Intentional Torts against Persons 92 ◾◾ Beyond Our Borders: “Libel Tourism” 95 ◾◾ Adapting the Law to the Online Environment: Revenge Porn and Invasion of Privacy 98

Case 4.1: Revell v. Guido 100

Intentional Torts against Property 102

Case 4.2: Welco Electronics, Inc. v. Mora 104

Unintentional Torts (Negligence) 105 ◾◾ Landmark in the Law: Palsgraf v. Long Island

Railroad Co. (1928) 108

spotlight on the seattle Mariners: Case 4.3: Taylor v. Baseball Club of Seattle, L.P. 109

Strict Liability 112 ◾◾ Business Application: How Important Is Tort Liability to Business? 113

Chapter 5 Product Liability 118 Product Liability 118

◾◾ Landmark in the Law: MacPherson v. Buick Motor Co. (1916) 120

Strict Product Liability 120

spotlight on injuries froM VaCCinations: Case 5.1: Bruesewitz v. Wyeth, LLC 121

◾◾ Beyond Our Borders: Imposing Product Liability as Far Away as China 122

Case 5.2: Riley v. Ford Motor Co. 125 ◾◾ Managerial Strategy: When Is a Warning Legally Bulletproof? 127

Defenses to Product Liability 129

Case 5.3: Verost v. Mitsubishi Caterpillar Forklift America, Inc. 129 ◾◾ Linking Business Law to Corporate Management: Quality Control 133

Chapter 6 Intellectual Property Rights 138 Trademarks 139

ClassiC Case 6.1: Coca-Cola Co. v. Koke Co. of America 139

Patents 145

Case 6.2: In re Imes 146 ◾◾ Adapting the Law to the Online Environment: The Problem of Patent Trolls 148

Copyrights 149

Case 6.3: Inhale, Inc. v. Starbuzz Tobacco, Inc. 150 ◾◾ Beyond Our Borders: The Resale of Textbooks Purchased Abroad 153

Trade Secrets 154

International Protections 156 ◾◾ Linking Business Law to Marketing: Trademarks and Service Marks 158

Chapter 7 Internet Law, Social Media, and Privacy 162 Internet Law 162

spotlight on internet porn: Case 7.1: Hasbro, Inc. v. Internet Entertainment Group, Ltd. 166

Copyrights in Digital Information 167 ◾◾ Landmark in the Law: The Digital Millennium Copyright Act 168 ◾◾ Adapting the Law to the Online Environment: E-Mail Hacking at Sony Pictures—Can You Put the Cat Back into the Bag? 169

Social Media 171

Online Defamation 175

Case 7.2: Yelp, Inc. v. Hadeed Carpet Cleaning, Inc. 175

Privacy 177 ◾◾ Beyond Our Borders: “The Right to Be Forgotten” in the European Union 177

Case 7.3: Nucci v. Target Corp. 178

Chapter 8 Criminal Law and Cyber Crime 184 Civil Law and Criminal Law 184

Criminal Liability 187 ◾◾ Managerial Strategy: The Criminalization of American Business 189

Types of Crimes 190

Case 8.1: State of Minnesota v. Smith 191

spotlight on White-Collar CriMe: Case 8.2: People v. Sisuphan 194

Defenses to Criminal Liability 197

Constitutional Safeguards and Criminal Procedures 199

Case 8.3: State of Oklahoma v. Marcum 200 ◾◾ Landmark in the Law: Miranda v. Arizona (1966) 203

Cyber Crime 206 ◾◾ Beyond Our Borders: Hackers Hide in Plain Sight in Russia 208 ◾◾ Adapting the Law to the Online Environment: Malware Is Changing the Criminal Landscape 209 ◾◾ Business Application: Protecting Your Company against Hacking of Its Bank Accounts 211

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◾◾ Adapting the Law to the Online Environment: Should Employees Have a “Right of Disconnecting”? 228

Case 9.3: Al-Dabagh v. Case Western Reserve University 229

Global Business Ethics 230 ◾◾ Beyond Our Borders: Bribery and the Foreign Corrupt Practices Act 232 ◾◾ Linking Business Law to Accounting and Finance: Managing a Company’s Reputation 233

Appendix to Chapter 9 238

unit one—Business Case study With dissenting opinion: Central Radio Co. v. City of Norfolk, Virginia 239

Unit 2 ContraCts and e-ContraCts 243 Chapter 10 Nature and Classification 244 An Overview of Contract Law 244

Case 10.1: Pan Handle Realty, LLC v. Olins 246

Elements of a Contract 246

Types of Contracts 247

Case 10.2: Vukanovich v. Kine 250

Quasi Contracts 252

Interpretation of Contracts 253

spotlight on ColuMBia piCtures: Case 10.3: Wagner v. Columbia Pictures Industries, Inc. 255

Chapter 11 Agreement 261 Agreement 261

ClassiC Case 11.1: Lucy v. Zehmer 262

spotlight on aMazon.CoM: Case 11.2: Basis Technology Corp. v. Amazon.com, Inc. 265

◾◾ Adapting the Law to the Online Environment: Can Your E-Mails or Instant Messages Create a Valid Contract? 268

Case 11.3: Brown v. Lagrange Development Corp. 269

E-Contracts 271 ◾◾ Managerial Strategy: E-Mailed Credit Card Receipts 276

The Uniform Electronic Transactions Act 276 ◾◾ Linking Business Law to Marketing: Customer Relationship Management 280

Chapter 12 Consideration, Capacity, and Legality 285 Consideration 285

◾◾ Landmark in the Law: Hamer v. Sidway (1891) 287

spotlight on nike: Case 12.1: Already, LLC v. Nike, Inc. 290

Promissory Estoppel 291

Contractual Capacity 292

Case 12.2: PAK Foods Houston, LLC v. Garcia 293

Legality 295

Case 12.3: Holmes v. Multimedia KSDK, Inc. 301 ◾◾ Managerial Strategy: Creating Liability Waivers That Are Not Unconscionable 302

The Effect of Illegality 302

Chapter 9 Business Ethics 216 Business Ethics 216

Case 9.1: Scott v. Carpanzano 219

Case 9.2: May v. Chrysler Group, LLC 220

Business Ethics and Social Media 221

Approaches to Ethical Reasoning 222

Making Ethical Business Decisions 227

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Chapter 13 Defenses to Contract Enforceability 309 Voluntary Consent 309

Case 13.1: Cronkelton v. Guaranteed Construction Services, LLC 314

Case 13.2: Fazio v. Cypress/GR Houston I, LP 315 ◾◾ Adapting the Law to the Online Environment: “Catfishing”: Is That Online “Friend” for Real? 317

The Writing Requirement 318 ◾◾ Beyond Our Borders: The Statute of Frauds and International Sales Contracts 321

Sufficiency of the Writing or Electronic Record 323

The Parol Evidence Rule 324

Case 13.3: Frewil, LLC v. Price 326

Chapter 14 Third Party Rights and Discharge 331 Assignments 331

Case 14.1: Bass-Fineberg Leasing, Inc. v. Modern Auto Sales, Inc. 334

Delegations 336

Third Party Beneficiaries 338

Contract Discharge 341

Case 14.2: Kohel v. Bergen Auto Enterprises, LLC 344 ◾◾ Adapting the Law to the Online Environment: When Do Changes in Social Media Terms of Service Constitute a Breach of Contract? 345

Case 14.3: Kolodin v. Valenti 349 ◾◾ Beyond Our Borders: Impossibility or Impracticability of Performance in Germany 351 ◾◾ Business Application: Dealing with Third Party Rights 352

Unit 3 CommerCiaL transaCtions 397 Chapter 17 The Formation of Sales and Lease Contracts 398

◾◾ Landmark in the Law: The Uniform Commercial Code 399

The Scope of Articles 2 and 2A 399

Chapter 15 Breach and Remedies 356 Damages 356

Case 15.1: Hallmark Cards, Inc. v. Murley 357 ◾◾ Landmark in the Law: Hadley v. Baxendale (1854) 361

spotlight on liquidated daMages: Case 15.2: Kent State University v. Ford 362

Equitable Remedies 363

Case 15.3: Clara Wonjung Lee, DDS, Ltd. v. Robles 364

Recovery Based on Quasi Contract 366

Contract Provisions Limiting Remedies 367 ◾◾ Business Application: What Do You Do When You Cannot Perform? 369

Chapter 16 International Law in a Global Economy 374

◾◾ Beyond Our Borders: Border Searches of Your Electronic Devices 375

International Law 375

Case 16.1: Linde v. Arab Bank, PLC 377

Doing Business Internationally 379

Regulation of Specific Business Activities 381

International Contracts 383

Case 16.2: Carlyle Investment Management LLC v. Moonmouth Company SA 384

Payment Methods 386

U.S. Laws in a Global Context 388

spotlight on international torts: Case 16.3: Daimler AG v. Bauman 389

unit tWo—Business Case study With dissenting opinion: Braddock v. Braddock 394

Case 17.1: Nautilus Insurance Co. v. Cheran Investments LLC 400 ◾◾ Adapting the Law to the Online Environment: Taxing Web Purchases 402

The Formation of Sales and Lease Contracts 404

Case 17.2: C. Mahendra (N.Y.), LLC v. National Gold & Diamond Center, Inc. 408

ClassiC Case 17.3: Jones v. Star Credit Corp. 414

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The Bank’s Duty to Honor Checks 495

Case 20.2: Michigan Basic Property Insurance Association v. Washington 500

The Bank’s Duty to Accept Deposits 501

Case 20.3: Shahin v. Delaware Federal Credit Union 502 ◾◾ Landmark in the Law: Check Clearing in the 21st Century Act (Check 21) 503

Electronic Fund Transfers 506

Online Banking and E-Money 507 ◾◾ Adapting the Law to the Online Environment: Pay with Your Smartphone 508 ◾◾ Linking Business Law to Accounting and Finance: Banking Risks 509

Chapter 21 Security Interests and Creditors’ Rights 514 Terminology of Secured Transactions 514

Creating and Perfecting a Security Interest 515

Case 21.1: Royal Jewelers Inc. v. Light 516 ◾◾ Adapting the Law to the Online Environment: Secured Transactions Online 517

Scope of a Security Interest 522

Priorities, Rights, and Duties 524

Default 527

Case 21.2: Smith v. Firstbank Corp. 529

Other Laws Assisting Creditors 530

Case 21.3: HSBC Realty Credit Corp. (USA) v. O’Neill 534

Title and Risk of Loss 415 ◾◾ Managerial Strategy: Commercial Use of Drones 417

Contracts for the International Sale of Goods 422 ◾◾ Business Application: Who Bears the Risk of Loss— the Seller or the Buyer? 424

Appendix to Chapter 17 429

Chapter 18 Performance and Breach of Sales and Lease Contracts 433 Performance Obligations 434

Case 18.1: Garziano v. Louisiana Log Home Co. 435

Anticipatory Repudiation 441

Remedies for Breach 441 ◾◾ Beyond Our Borders: The CISG’s Approach to Revocation of Acceptance 447

spotlight on BaseBall Cards: Case 18.2: Fitl v. Strek 448

Warranties 449

ClassiC Case 18.3: Webster v. Blue Ship Tea Room, Inc. 452

Chapter 19 Negotiable Instruments 460 Types of Negotiable Instruments 460

Requirements for Negotiability 464

Case 19.1: Alpacas of America, LLC v. Groome 466

Case 19.2: Charles R. Tips Family Trust v. PB Commercial LLC 470

Transfer of Instruments 470

Case 19.3: In re Bass 472 ◾◾ Beyond Our Borders: Severe Restrictions on Check Indorsements in France 473

Holder in Due Course (HDC) 475

Signature and Warranty Liability 478

Defenses, Limitations, and Discharge 483 ◾◾ Landmark in the Law: Federal Trade Commission Rule 433 485

Chapter 20 Banking in the Digital Age 491 Checks 491

The Bank-Customer Relationship 494

Case 20.1: Royal Arcanum Hospital Association of Kings County, Inc. v. Herrnkind 494

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Chapter 22 Bankruptcy 541 Mortgages 541

spotlight on foreClosures: Case 22.1: McLean v. JPMorgan Chase Bank, N.A. 544

Laws Assisting Debtors 545

The Bankruptcy Code 546 ◾◾ Landmark in the Law: The Bankruptcy Abuse Prevention and Consumer Protection Act 547

Unit 4 agenCy and empLoyment Law 573 Chapter 23 Agency Relationships in Business 574 Agency Relationships 575

Case 23.1: Asphalt & Concrete Services, Inc. v. Perry 577

Formation of an Agency 579

Duties of Agents and Principals 581

Agent’s Authority 583 ◾◾ Adapting the Law to the Online Environment: What Happens When an Agent Breaches Company Policy on the Use of Electronic Data? 585

spotlight on apparent authority of Managers: Case 23.2: Lundberg v. Church Farm, Inc. 586

Liability in Agency Relationships 587

Case 23.3: Stonhard, Inc. v. Blue Ridge Farms, LLC 588 ◾◾ Landmark in the Law: The Doctrine of Respondeat Superior 591

Termination of an Agency 592 ◾◾ Beyond Our Borders: Islamic Law and Respondeat Superior 593 ◾◾ Business Application: How Can an Employer Use Independent Contractors? 596

Chapter 24 Employment, Immigration, and Labor Law 601 Employment at Will 601

Wages, Hours, Layoffs, and Leave 603

Case 24.1: Bailey v. TitleMax of Georgia, Inc. 605 ◾◾ Beyond Our Borders: Brazil Requires Employers to Pay Overtime for Use of Smartphones after Work Hours 606

Case 24.2: Ballard v. Chicago Park District 607

Health, Safety, and Income Security 608

Employee Privacy Rights 612 ◾◾ Adapting the Law to the Online Environment: Social Media in the Workplace Come of Age 613

Immigration Law 615

Labor Unions 617

Case 24.3: Services Employees International Union v. National Union of Healthcare Workers 619

◾◾ Managerial Strategy: Union Organizing Using Your Company’s E-Mail System 621 ◾◾ Business Application: How to Develop a Policy on Employee Use of the Internet and Social Media 624

Chapter 7—Liquidation 547

Case 22.2: In re Cummings 558

Chapter 11—Reorganization 559

Bankruptcy Relief under Chapter 12 and Chapter 13 561

Case 22.3: In re Welsh 563 ◾◾ Linking Business Law to Corporate Management: What Can You Do to Prepare for a Chapter 11 Reorganization? 566

unit three—Business Case study With dissenting opinion: First Bank v. Fischer & Frichtel, Inc. 570

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◾◾ Beyond Our Borders: Sexual Harassment in Other Nations 640

Discrimination Based on Age 641

Discrimination Based on Disability 642

Defenses to Employment Discrimination 646

Affirmative Action 647 ◾◾ Linking Business Law to Corporate Management: Human Resource Management 649

unit four—Business Case study With dissenting opinion: EEOC v. Greater Baltimore Medical Center, Inc. 653

Unit 5 BUsiness organizations 657 Chapter 26 Sole Proprietorships and Franchises 658 Sole Proprietorships 659

◾◾ Managerial Strategy: Cyber Thieves Empty Small-Business Owners’ Bank Accounts 659

Case 26.1: Quality Car & Truck Leasing, Inc. v. Sark 661 ◾◾ Adapting the Law to the Online Environment: A Sole Proprietorship, Facebook Poker, and Bankruptcy 662

Franchises 662 ◾◾ Beyond Our Borders: Franchising in Foreign Nations 663

The Franchise Contract 665

Franchise Termination 667

Case 26.2: Century 21 Real Estate LLC v. All Professional Realty, Inc. 668

spotlight on holiday inns: Case 26.3: Holiday Inn Franchising, Inc. v. Hotel Associates, Inc. 669

◾◾ Business Application: What Problems Can a Franchisee Anticipate? 671

Chapter 27 All Forms of Partnership 675 Basic Partnership Concepts 675

Formation and Operation 678 ◾◾ Beyond Our Borders: Doing Business with Foreign Partners 679

ClassiC Case 27.1: Meinhard v. Salmon 681

Dissociation and Termination 684

Case 27.2: Estate of Webster v. Thomas 686

Limited Liability Partnerships 688

Limited Partnerships 689

Case 27.3: DeWine v. Valley View Enterprises, Inc. 690

Chapter 28 Limited Liability Companies and Special Business Forms 697 Limited Liability Companies 697

◾◾ Landmark in the Law: Limited Liability Company (LLC) Statutes 698

Case 28.1: Hodge v. Strong Built International, LLC 700 ◾◾ Beyond Our Borders: Limited Liability Companies in Other Nations 701

Chapter 25 Employment Discrimination 629 Title VII of the Civil Rights Act 629

◾◾ Adapting the Law to the Online Environment: Hiring Discrimination Based on Social Media Posts 633

Case 25.1: Young v. United Parcel Service, Inc. 635

Case 25.2: Roberts v. Mike’s Trucking, Ltd. 637

Case 25.3: Morales-Cruz v. University of Puerto Rico 639

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LLC Operation and Management 702

Case 28.2: Mekonen v. Zewdu 702

Dissociation and Dissolution of an LLC 704 ◾◾ Managerial Strategy: Can a Person Who Is Not a Member of a Protected Class Sue for Discrimination? 705

Case 28.3: Venture Sales, LLC v. Perkins 706

Special Business Forms 707 ◾◾ Business Application: How Do You Choose between an LLC and an LLP? 711

Chapter 29 Corporations 715 Nature and Classification 715

Case 29.1: Drake Manufacturing Co. v. Polyflow, Inc. 717 ◾◾ Adapting the Law to the Online Environment: Imposing a 1930s Regulatory Law on Broadband Operators 719

Formation and Financing 721

Corporate Powers 726

Case 29.2: Dog House Investments, LLC v. Teal Properties, Inc. 728

Directors and Officers 729

ClassiC Case 29.3: Guth v. Loft, Inc. 733

Unit 6 government regULation 777 Chapter 31 Antitrust Law and Promoting Competition 778 The Sherman Antitrust Act 779

◾◾ Landmark in the Law: The Sherman Antitrust Act 779

Section 1 of the Sherman Act 781

◾◾ Adapting the Law to the Online Environment: The Justice Department Goes After E-Book Pricing 783

Section 2 of the Sherman Act 785

Case 31.1: McWane, Inc. v. Federal Trade Commission 787

spotlight on Weyerhaeuser: Case 31.2: Weyerhaeuser Co. v. Ross-Simmons Hardwood Lumber Co. 789

The Clayton Act 790

Case 31.3: Batson v. Live Nation Entertainment, Inc. 792

Enforcement and Exemptions 793

Shareholders 734 ◾◾ Beyond Our Borders: Derivative Actions in Other Nations 739

Major Business Forms Compared 740

Chapter 30 Investor Protection, Insider Trading, and Corporate Governance 747

◾◾ Landmark in the Law: The Securities and Exchange Commission 748

Securities Act of 1933 748

Case 30.1: Omnicare, Inc. v. Laborers District Council Construction Industry Pension Fund 755

Securities Exchange Act of 1934 756

ClassiC Case 30.2: Securities and Exchange Commission v. Texas Gulf Sulphur Co. 758

Case 30.3: United States v. Newton 762

State Securities Laws 763

Corporate Governance 764 ◾◾ Beyond Our Borders: Corporate Governance in Other Nations 765

unit fiVe—Business Case study With dissenting opinion: Notz v. Everett Smith Group, Ltd. 773

U.S. Antitrust Laws in the Global Context 794 ◾◾ Beyond Our Borders: The EU’s Lengthy Antitrust Proceedings 796 ◾◾ Business Application: How Can You Avoid Antitrust Problems? 797

Chapter 32 Consumer and Environmental Law 802 Advertising, Marketing, and Sales 802

Case 32.1: POM Wonderful, LLC v. Federal Trade Commission 804 ◾◾ Adapting the Law to the Online Environment: The FTC’s Guideline Regulating Astroturfing 806

Case 32.2: Lexmark International, Inc. v. Static Control Components, Inc. 807

Labeling and Packaging 808

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Toxic Chemicals and Hazardous Waste 822 ◾◾ Business Application: The Proper Approach to Using Credit Reporting Services 825

Chapter 33 Liability of Accountants and Other Professionals 830 Potential Liability to Clients 831

◾◾ Landmark in the Law: The SEC Adopts Global Accounting Rules 832

Case 33.1: In re B.L.H. 835

Potential Liability to Third Parties 836

Case 33.2: Perez v. Stern 839

The Sarbanes-Oxley Act 839

Potential Liability of Accountants under Securities Laws 841

spotlight on an aCCountant’s duty to CorreCt Mistakes: Case 33.3: Overton v. Todman & Co., CPAs 844

Potential Criminal Liability 845

Confidentiality and Privilege 846

unit six—Business Case study With dissenting opinion: Yates v. United States 852

Unit 7 property and its proteCtion 855 Chapter 34 Personal Property and Bailments 856 Personal Property versus Real Property 856

Case 34.1: Corbello v. DeVito 857

Acquiring Ownership of Personal Property 858 ◾◾ Adapting the Law to the Online Environment: The Exploding World of Digital Property 859

ClassiC Case 34.2: In re Estate of Piper 861

Mislaid, Lost, and Abandoned Property 863

Bailments 865

Case 34.3: Bridge Tower Dental, P.A. v. Meridian Computer Center, Inc. 869

◾◾ Business Application: What Should You Do with Lost Property? 873

Chapter 35 Real Property and Landlord-Tenant Law 877 The Nature of Real Property 877

Ownership Interests and Leases 879

Case 35.1: Main Omni Realty Corp. v. Matus 881

Case 35.2: Baker v. Walnut Bowls, Inc. 885

Transfer of Ownership 886

spotlight on sales of haunted houses: Case 35.3: Stambovsky v. Ackley 887

Landlord-Tenant Relationships 891

Protection of Health and Safety 810 ◾◾ Beyond Our Borders: Europe Bans Foods That Americans Eat 810

Credit Protection 812

Protecting the Environment 816

Air and Water Pollution 818

Case 32.3: United States v. O’Malley 820

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Chapter 36 Insurance, Wills, and Trusts 899 Insurance 899

Case 36.1: Breeden v. Buchanan 902

Case 36.2: Valero v. Florida Insurance Guaranty Association, Inc. 905

Wills 907

Case 36.3: In re Estate of Melton 910 ◾◾ Adapting the Law to the Online Environment: Social Media Estate Planning 913

Trusts 915 ◾◾ Business Application: How Can You Manage Risk in Cyberspace? 920

unit seVen—Business Case study With dissenting opinion: Kovarik v. Kovarik 926

APPENDICES A How to Brief Cases and Analyze Case Problems A-1 B The Constitution of the United States A-3 C The Uniform Commercial Code (Excerpts) A-11 D Answers to Issue Spotters A-130 E Answers to Even-Numbered Learning

Objectives Check Questions A-136

F Sample Answers for Business Case Problems with Sample Answer A-144

G Case Excerpts for Case Analysis Questions A-152 Glossary G-1

Table of Cases TC-1

Index I-1

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xiiiContents

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The study of business and the legal environment has universal applicability. A student entering any field of business must have at least a passing understanding of business law in order to function in the real world. Business Law Today, Eleventh Edition, provides the information in an interesting and contemporary way. The Eleventh Edition continues its established tradition of being the most up-to-date text on the market.

Instructors have come to rely on the coverage, accuracy, and applicability of Business Law Today. This best-selling text engages your students, solidifies their understanding of legal concepts, and provides the best teaching tools available. I have spent a great deal of effort making this edition more contemporary, exciting, and visually appealing than ever before. Special pedagogical devices within the text focus on legal, ethical, global, and corporate issues, while addressing core curriculum requirements.

The Eleventh Edition incorporates the latest legal developments and United States Supreme Court decisions. It also includes more than fifty new features and seventy new cases, hundreds of new examples and case examples, new exhibits, learning objectives, margin definitions, and case problems.

New Chapter on Internet Law, Social Media, and Privacy For the Eleventh Edition, I have included an entirely new chapter (Chapter 7) entitled Internet Law, Social Media, and Privacy. Social media have entered the mainstream and become a part of everyday life for many businesspersons. Throughout the text, I recognize this trend by incorporating the Internet and social media as they relate to the topics under discussion.

New Features The Eleventh Edition of Business Law Today is filled with exciting new features including the following:

• Twenty-three Adapting the Law to the Online Environment features examine cutting- edge cyberlaw issues. Seventeen of these are new and cover topics such as Facebook poker, hacking, patent trolls, paying with smartphones, revenge porn, and social media.

• I have included twenty new Ethical Issues that focus on the ethical aspects of a topic being discussed in order to emphasize that ethics is an integral part of a business law course.

• I have also added six new Beyond Our Borders features (for a total of twenty-four) that focus on the global legal environment and illustrate how other nations deal with specific legal concepts being discussed.

• For this edition, I have created a new feature entitled Managerial Strategy that focuses on the management aspects of business law. There are ten of these new features throughout the text, covering such topics as the commercial use of drones, marriage equality, and the use of company e-mail systems to organize a union.

• Fourteen Business Application features and eight Linking Business Law to [one of the six functional fields of business] features are included at the end of selected chapters.

preface

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The Business Applications focus on practical considerations and offer checklists related to the chapter’s contents, whereas the Linking Business Law features underscore how the law relates to other fields of business.

• Eighteen Landmark in the Law features discuss a landmark case, statute, or other legal development that has had a significant effect on business law.

New Cases and Case Problems The Eleventh Edition of Business Law Today has new cases and case problems from 2015 and 2014 in every chapter. The new cases have been carefully selected to illustrate important points of law and be of high interest to students and instructors. I have made it a point to find recent cases that enhance learning and are simple enough for business law students to understand.

Certain cases and case problems have been carefully chosen as good teaching cases and are designated as Spotlight Cases and Spotlight Case Problems. Some examples include Spotlight on Apple, Spotlight on Beer Labels, Spotlight on Nike, and Spotlight on the Seattle Mariners. Instructors will find these Spotlight decisions useful to illustrate the legal concepts under discussion, and students will enjoy studying these cases because they involve interesting and memorable facts. Other cases have been chosen as Classic Cases because they establish a legal precedent in the particular area of law.

Each case concludes with a question, which may be called Critical Thinking, What If the Facts Were Different? or Why Is This Case Important? Classic Cases conclude with an Impact of This Case on Today’s Law section that clarifies how the case has affected the legal environment. Suggested answers to all case-ending questions can be found in the Solutions Manual for this text.

Many New Highlighted and Numbered Case Examples Many instructors use cases and examples to illustrate how the law applies to business. For this edition of Business Law Today, I have added more than one hundred new highlighted and numbered Examples, and more than one hundred new highlighted and consecutively numbered Case Examples. Examples illustrate how the law applies in a specific situation. Case Examples present the facts and issues of an actual case and then describe the court’s decision and rationale. The numbered Examples and Case Examples features are integrated throughout the text to help students better understand how courts apply the principles in the real world.

Critical Thinking and Legal Reasoning Elements Critical thinking questions conclude most of the features and cases in this text. There is also a Debate This question at the end of each chapter that requires students to think critically about the rationale underlying the law on a particular topic.

Answers to all critical thinking questions, as well as to the Business Scenarios and Case Problems at the end of every chapter, are presented in the Solutions Manual for the text. In addition, the answers to one case problem in each chapter, called the Business Case Problem with Sample Answer, appear in Appendix F.

The chapter-ending materials also include a separate section of questions that focus on critical thinking and writing. This section always includes a Business Law Critical Thinking Group Assignment and may also include the following:

• Critical Legal Thinking questions require students to think critically about some aspect of the law discussed in the chapter.

• Business Law Writing questions require students to compose a written response to a business-oriented critical-thinking question.

• Case Analysis Questions require students to read through a case excerpt in Appendix G, brief the case, and then answer a series of questions relating to the case.

xvi Preface

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Other Pedagogical Devices within Each Chapter • Learning Objectives (questions at the beginning of each chapter and in the margin of

the text provide a framework for the student). • Preventing Legal Disputes (integrated text sections offer practical guidance on how

businesspersons can avoid legal disputes and litigation in a particular area). • Chapter Outline (an outline of the chapter’s first-level headings). • Margin definitions. • Highlighted and numbered Examples and Case Examples (illustrate legal principles). • Quotations and Know This (margin features). • Exhibits. • Photographs (with critical thinking questions) and cartoons.

Chapter-Ending Pedagogy • Reviewing . . . features (in every chapter). • Debate This (a statement or question at the end of the Reviewing feature). • Key Terms (with appropriate page references). • Chapter Summary (in table format). • Issue Spotters (in every chapter with answers in Appendix D). • Learning Objectives Check (The Learning Objectives questions are presented again to

aid students in reviewing the chapter. For this edition, answers to the even-numbered questions for each chapter are provided in Appendix E.)

• Business Scenarios and Case Problems (Every chapter includes a Business Case Problem with Sample Answer answered in Appendix F, A Question of Ethics, and a Business Law Critical Thinking Group Assignment. Selected chapters include a Spotlight Case Problem.)

Unit-Ending Pedagogy Each of the seven units in the Eleventh Edition of Business Law Today concludes with the following features (which are answered in the Solutions Manual):

• Business Case Study with Dissenting Opinion—This feature presents a court case that relates to a topic covered in the unit. It opens with an introductory section, discusses the case background and significance, and then provides excerpts from the court’s majority opinion and from a dissenting opinion as well. The case study portion ends with Questions for Analysis—a series of questions that prompt the student to think critically about the legal, ethical, economic, international, or general business implications of the case.

• Business Scenario—This feature presents a hypothetical business situation and then asks a series of questions about how the law applies to various actions taken by the firm. To answer the questions, the student must apply the laws discussed throughout the unit.

• Group Project—The final portion of the unit-ending pedagogy is a Group Project that requires students to work together to formulate answers based on materials they learned in the previous chapters.

Supplements Business Law Today, Eleventh Edition, provides a comprehensive supplements package designed to make the tasks of teaching and learning more enjoyable and efficient. The following supple- ments are available for instructors.

xviiPreface

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MindTap Business Law for Business Law Today, Eleventh Edition MindTap™ is a fully online, highly personalized learning experience built upon authoritative Cengage Learning content. By combining readings, multimedia, activities, and assessments into a singular Learning Path, MindTap guides students through their course with ease and engagement. Instructors personalize the Learning Path by customizing Cengage Learning resources and adding their own content via apps that integrate into the MindTap framework seamlessly with Learning Management Systems.

The MindTap Business Law product provides a four-step Learning Path, Case Repository, Adaptive Test Prep, and an Interactive eBook designed to meet instructors’ needs while also allowing instructors to measure skills and outcomes with ease. Each and every item is assign- able and gradable. This gives instructors the knowledge of class standings and concepts that may be difficult. Additionally, students gain knowledge about where they stand—both indi- vidually and compared to the highest performers in class.

Cengage Learning Testing Powered by Cognero Cengage Learning Testing Powered by Cognero is a flexible, online system that allows instructors to do the following:

• Author, edit, and manage Test Bank content from multiple Cengage Learning solutions. • Create multiple test versions in an instant. • Deliver tests from their Learning Management System (LMS), classroom, or wherever

they want.

Start Right Away! Cengage Learning Testing Powered by Cognero works on any operating system or browser.

• Use your standard browser; no special installs or downloads are needed. • Create tests from school, home, the coffee shop—anywhere with Internet access.

What Instructors Will Find • Simplicity at every step. A desktop-inspired interface features drop-down menus and

familiar, intuitive tools that take instructors through content creation and management with ease.

• Full-featured test generator. Create ideal assessments with a choice of fifteen question types—including true/false, multiple choice, opinion scale/Likert, and essay. Multi- language support, an equation editor, and unlimited metadata help ensure instructor tests are complete and compliant.

• Cross-compatible capability. Import and export content into other systems.

Instructor’s Companion Web Site The Instructor’s Companion Web Site contains the following supplements:

• Instructor’s Manual. Includes sections entitled “Additional Cases Addressing This Issue” at the end of selected case synopses.

• Solutions Manual. Provides answers to all questions presented in the text, including the Learning Objectives, the questions in each case and feature, the Issue Spotters, the Business Scenarios and Case Problems, Critical Thinking and Writing Assignments, and the unit-ending features. New for this edition, we also provide a set of Alternative Case Problems for every chapter.

• Test Bank. A comprehensive test bank contains multiple-choice, true/false, and short essay questions.

• Case-Problem Cases. • Case Printouts. • PowerPoint Slides.

xviii Preface

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Through personalized paths of dynamic assignments and applications, MindTap is a digital learning solution that turns cookie cutter into cutting edge, apathy into engagement, and memorizers into higher-level thinkers.

With MindTap’s carefully curated material, you get the right content and groundbreaking tools you need. You can personalize every element of your course—from rearranging the Table of Contents to inserting videos, cases, and activities. You’ll save time and improve workflow by having everything in one place. And, with MindTap’s Progress App, you can monitor student progress in real time.

Specifically for this Edition, you’ll find: A pre-built learning path in MindTap that guides students through consistent learning activities to prepare, engage, apply, and analyze business law content.

Turn the page to learn more about our exciting NEW Case Repository, Adaptive Test Prep, and the Interactive eBook.

Turn the Light ON with mindTap!

Worksheets - interactive online “worksheets” PREPARE students for class, ensuring reading and comprehension.

Brief Hypotheticals - these applications help students spot the issue and APPLY the law in the context of a short, factual scenario.

Video Activities - real-world video exercises make business law RELEVANT AND ENGAGING.

Case Problem Blueprints - promote deeper CRITICAL THINKING and legal reasoning by guiding students step by step through a case problem.

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Now, within MindTap, you can search a library of cases from previous editions of your favorite textbooks by relevant criteria and then incorporate those cases in the learning path for your students.

This exciting repository allows you to personalize your course and truly engage students, helping them to reach higher levels of critical thinking.

Access Over 900 Cases with our new Case repository

Easily search by topic, and then refine your search by subtopic, to find case examples of a specific legal concept.

Search by court or state to bring a local flavor or interest to your classroom.

Enjoy over 900 cases at your fingertips. All new edition omitted cases will be added every year, allowing the archive to continually grow.

Allows you to mix and match cases from different textbooks.

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MindTap’s Adaptive Test Prep helps students study for exams with unlimited practice tests, quizzes, and feedback aimed specifically at helping them understand the course concepts.

Students can create an unlimited number of practice tests using similar types of questions seen on exams and test themselves on multiple chapters, by chapter, and by sub-topic levels. All practice test questions are book-specific and students receive immediate feedback with a remediation path, called My Study Plan, based on questions they miss.

The feedback provided is available in up to three formats:

eBook link back to the reading

written remediation

video walk-throughs

These resources consist of robust explanations created by some of the best business law educators in the country. My Study Plan also provides chapter level resources such as flashcards and chapter summary reviews.

Reduce Exam Anxiety with adaptive Test Prep

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