Business Law and Capitalism Discussion Paper

Business Law and Capitalism Discussion Paper

Instructions/Descriptions

Business Law and Capitalism Discussion Paper

I’m working on a business law project and need an explanation and answer to help me learn.

1) In Module 1, we discussed Capitalism and the Role of Government.

Capitalism in America was built on the foundation of personal freedom and private property. Our great natural resources and personal ambition led to extraordinary prosperity.

Over the years, laws were passed by the government to regulate the power of big business and reduce abuse. The proper balance between open markets and government intervention remains perhaps the central public policy debate in American life.

QUESTION: To what extent should the government regulate business?

1. a) State the argument for the regulation of business.
2. b) State the argument against the regulation of business.
3. c) Take a position in this debate. Be sure to use course content and/or outside content to support your position (paraphrase, use APA in-text citations and a reference list).

2) In Module 2, we discussed the Corporation and Public Policy.

Stakeholder theory and corporate social performance have gained great credibility with academics and many managers. Others, however, argue that profits and shareholders must remain the consuming concerns of management, and that a skilled focus on the bottom line will, incidentally but inevitably, result in the greatest good for society.

That is, the company that maximizes its profits necessarily does not only what is best for its shareholders but also what is best for society generally.

QUESTION: Should a corporation adopt the stakeholder theory or the shareholder theory in today’s business environment?

1. a) State the argument for the adoption of the stakeholder theory.
2. b) State the argument for the adoption of the shareholder theory.
3. c) Take a position in this debate. Be sure to use course content and/or outside content to support your position (paraphrase, use APA in-text citations and a reference list).

3) In Module 2, we also discussed Business Ethics.

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Perhaps more than ever, Americans are questioning the nation’s moral health. A multitude of governmental, societal and business issues have caused us to question our decency as a society.

QUESTION: Does individual have to be willing to sometimes disregard his or her ethical principles to succeed in today’s business environment?

1. a) State the argument supporting the contention that success in business sometimes requires one to disregard his or her ethical principles.
2. b) State the argument against this contention.
3. c) Take a position in this debate. Be sure to use course content and/or outside content to support your position (paraphrase, use APA in-text citations and a reference list).

4) In Module 3, we discussed Contracts.

A capitalist, free market system cannot operate effectively and fairly without a reliable foundation in contract law. At the practical level, all buyers and sellers must have confidence that the deal they are about to make will be completed as specified or that they will have a remedy available if it is not completed.

Otherwise, the legal risk in making deals would act as a drag on the commercial process, reducing certainty and depreciating the extraordinary efficiency of the free market.

QUESTION: Legally enforceable contracts exhibit five distinct features.

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1. Please list and describe in detail each of these features.
2. Why are each of these features important?

Please use content from the textbook to support your response (be sure to paraphrase and use APA in-text citations and a reference list).

5) In Module 4, we discussed Business Torts and Product Liability.

Torts are civil wrongs not arising from contracts. Torts involve breaches of duty to particular persons, whereas crimes are regarded as public wrongs breaching duties to all of society (although, of course, they are most commonly directed at a specific person or persons). Crimes are prosecuted by the state; tort actions are initiated by individuals. Criminal law punishes wrongdoers, but the point of tort law is to make whole an injured party.

QUESTION: Fundamentally, torts are of three kinds: (1) intentional, (2) negligent, and (3) strict liability.

1. Please describe in detail each of these three types of torts and describe how they differ from one another.
2. Sometimes a person be found not guilty of a criminal charge and liable for money damages in a civil claim despite both having arisen from the same set of facts. Why does the law allow such a result?

Please use content from the textbook to support your response (be sure to paraphrase and use APA in-text citations and a reference list).

6) In Module 5, we discussed Federal Regulatory Agencies.

Suppose you start a business; a small, relatively simple business, perhaps a restaurant. You quickly come to realize that the government is going to be your partner in that business. Taxes, wages, hours, sanitation, safety, advertising, zoning—at every turn a government rule shapes the conduct of your business. In many cases those rules are created and enforced by administrative agencies, a powerful subset of government little understood by the public but immensely influential in every corner of American life.

QUESTION: The authority of the federal regulatory agencies falls broadly into three categories.

1. Please list and describe in detail each category of authority.
2. Do federal regulatory agencies possess too much power? Why or why not?

Please use content from the textbook to support your response (be sure to paraphrase and use APA in-text citations and a reference list).

7) In Module 6, we discussed Business Organizations.

One of the most significant decisions facing the founders of a business is the choice of a legal entity to house the business. Among other things, this decision will affect the legal relationships among the founders, the relationship between them, and the entity and between them and various third parties. It will also affect their access to outside capital and the tax treatment accorded business profits and losses.

QUESTION: The four basic business forms are 1) sole proprietorship; 2) partnership; 3) corporation and 4) limited liability company.

1. Describe the advantages and disadvantages of each business form.
2. State which business form you would choose as an owner to best protect against personal liability (be sure to provide the reasons for this choice).

Please use content from the textbook to support your response (be sure to paraphrase and use APA in-text citations and a reference list).

8) In Module 7, we discussed Antitrust Law.

Technically, a merger involves the union of two or more enterprises wherein the property of all is transferred to the one remaining firm. However, antitrust law embraces all those situations in which previously independent business entities are united—whether by acquisition of stock, purchase of physical assets, creation of holding companies, consolidation, or merger.

QUESTION: There are three categories of mergers: horizontal; vertical and conglomerate.

1. Describe each category of merger.
2. What are the benefits and problems associated with a merger?
3. Why does the government closely scrutinize mergers that occur in the business world? What is the government trying to avoid?

Please use content from the textbook to support your response (be sure to paraphrase and use APA in-text citations and a reference list).

9) In Module 8, we discussed Consumer Protection.

If the market is to operate efficiently, the buyer must be able to rely on the truth of the seller’s product claims. Regrettably, willful untruths appear to be common in American commerce. A victim of fraud is entitled to rescind the contract in question and to seek damages, including, in cases of malice, a punitive recovery.

QUESTION: Consumer protection primarily aims to protect individuals from fraud.

1. Describe in detail the elements of fraud.
2. Describe in detail an innocent misrepresentation.
3. How do they differ?
4. What does the law allow a wronged party to do in each instance?

Please use content from the textbook to support your response (be sure to paraphrase and use APA in-text citations and a reference list).

10) The following questions address the big picture of this course.

QUESTION: What was your main takeaway from this course? Why did this topic resonate with you?

Business Law and Capitalism Discussion Paper

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