MBAA - Loyola Marymount University by fionan


               Summer Session 1 - MBAA 601.01
                Tuesday Night – 7:10 – 10:10pm

Dr. Arthur Gross-Schaefer
Hilton 227
Campus phone 310 338-2859
Home phone (emergencies only) 805-683-4561
Office hours: by appointment --- I’ll be happy to stay after class or come around 3pm to see you
before class

Course Description:

 A general survey course in the area of Business Law and its effect on the business environment specially
designed for the MBA student. The student will develop a basic understanding of legal concepts, which
they are most likely to encounter in the business world. The course will also provide useful skills to better
appreciate when and how to use legal advice.

Course Objective:

To develop the student's ability to analyze legal issues in a given fact patters.
To increase the student's understanding of the legal system and how it functions.
To increase the student's familiarity and comfort level with legal language and concepts.
To develop the student's awareness of when and how best to work with an attorney.
To expose the student to current legal issues which he/she may be effected by in the business world.
To explore the role of law and government in effecting the business environment.
To develop the ability to analyze complex cases using an ethics decision model.
To appreciate the role played by ethics in the creation of the legal environment

Text, Workbook and Required Reading:

Text and workbook: Metzger, Mallor, Barnes, Bowers, Phillips, Business Law and the Regulatory
(Please make sure to obtain the accompanying workbook)
Required readings, in addition to the text books, will include newspaper stories, articles, and ethics cases

Course Requirements:

Completion of Student Workbook- prior to discussion on an assigned chapter, each student MUST turn in a
completed workbook assignment, which corresponds, to the assigned chapter. While it is hoped that the
chapter being assigned is carefully read, the completion of the workbook helps to highlight and insure that
key concepts are understood. LATE workbook assignments will generally NOT be accepted.

Case Briefs - students will be required to be able to fully discuss cases which appear within the chapters
assigned (you will not need to brief the cases at the end of the chapter unless specifically assigned). In
order to insure that the student carefully reads and understands the cases, a specific type of outline (a brief)
will be required. The specific form of the brief will be discussed in class. These briefs will often be
collected. LATE briefs will NOT be accepted.

Ethics Cases - each week, an ethics case will be assigned to be turned in along with your chapter briefs.
You will be required to analyze the case using the ethics model presented in class.

Newspaper articles - each Thursday, students at random will be selected to present a story related to the
class topics currently under discussion which appeared in appropriate news sources such as the LA Times,
NY Times, and equivalent on line or in print. The student should bring a copy of the article which can be
turned in. These recent articles allow for class discussion to bridge the academic and the business world.

Oral Presentations - Each student will be put into a group that will pick its own topics (which must be
approved) which illustrate law's impact on business. Each group will select a topic, create a packet which
includes a title page listing the members of the team and three quality articles that will be passed out to the
class members the week prior to their presentation. Each presentation will last no longer than fifteen
minutes and should include creative methods to present the material. The presentation should discuss the
groups view as to the future expected impact and suggested was for business to effectively respond. The
presentation will be graded: 1/3 for quality of presentation, 1/3 for quality of articles passed out, and 1/3
for the presentations creativity and entertaining (consider power point, game theme, role play, etc.).

Movies – movies will be assigned that support and emphasize concepts presented in class

Misc. - A group paper, a written assignment to draft a legal document as a partnership agreement or sexual
harassment policy, various movies related to the course, or other project may be required as the course

Exams - Two exams of equal weight will be given (i.e. a mid-term and a final).


It is presumed that all workbooks, briefs, and newspaper articles will be turned in on time and complete.
Two percent (2%) will be deducted per assignment which is not turned in or incomplete. It is presumed
that all participants in a group giving an oral presentation will actively and constructively participate. Up
to twenty percent (20%) can be dedicated for non or inadequate participation. Accordingly, your grade
will primarily be based on two exams, which will be graded on a general bell shaped curve in relation to the
performance of the other students in the class.

Special Accommodations:

 Students with special needs who need reasonable modifications, special assistance, or accommodations in
this course should promptly direct their request to the Disability Support Services Office. Any student who
currently has a documented disability (physical, learning, or psychological) needing academic
accommodations should contact the Disability Services Office (Daum Hall # 224, x84535) as early in the
semester as possible. All discussions will remain confidential. Please visit
<> for additional information.
           Weekly Assignments (subject to change):


           Class 1               Introduction, overview - legal reasoning -briefing -ethics decision
                                 model, Foundations of Law and The resolution of private dispute
                                 Class will be divided into groups for oral presentations

           Class 2               Contracts and Offers-(don't forget the workbook, case briefs and ethics case)

           Class 3                Consideration & Writing

           Class 4               Contracts Continued & Fundamentals of Performance (quest speaker and or movie)

           Class 5                Property and estates

           Class 6                Intentional Torts and Negligence

           Class 7               Product Liability and Employment Law
                                 -group 1 presentation

           Class 8                Midterm and movie – Wall Street (look for the BIG phone)

           Class 9                Business organizations - corporations, partnerships, agency
                                 -group 2 presentation

           Class 10              the legal environment for international business
                                 - group 3 presentation

           Class 11              Business, the Constitution and Crime

           Class 12              Anti-Trust/Business and Competition

           Final Examination

               PLEASE note: I do not take grade information home during the summer and will not respond to emails or calls
            regarding grades. I am happy to have you come to my office when the Fall semester begins to review your grade, exams
                          and discuss grades. I will keep your exams until the end of September of the Fall semester.

                                   ENJOY THE REST OF YOUR SUMMER VACATION

Key Words - 601                                                       Introduction
disclaimer-this is merely a study guide-all terms in the
assigned chapters or discussed in class are fair game                 Purpose of Law
                                                                               protecting property
           preserving the peace                Expressed/implied contract
Sources of Law for Business                     oral/written
           common law                          unilaterial/bilaterial
           UCC                                 Elements
Jurisdiction                                               offer
           in rem jurisdiction                       intent, terms, communication
           in personam jurisdiction                  counter offer
           diversity jurisdiction                    conditional acceptance
           federal question long arm statute         newspaper ads
           minimum contacts                               acceptance
venue                                                 silence
special appearance                                    mirroring the terms
questions of law                                      authorized
questions of fact                                     unauthorized
judicial interpretation                                    consideration
           plain meaning                             mutual benefit/detriment
           original intent                           no need for equal value
           purpose                                   pre-existing
           precedent (stare decisis)                 past
           current needs
           what is right
supremacy clause
                                                           legal purpose
           trail
                                                      regulatory license
           appellate court
                                                           capacity
           supreme
dissenting opinion
concurring opinion
attorney-client privilege
                                                equitable relief
Civil Procedure
                                                           quai contract
           petition
                                                           unconscionable
           complaint
                                                           promissory estoppel
           answer
                                                reality of consent
           reply
                                                           fraud
           summons
                                                           misrepresentation
           counterclaim
                                                           undue influence
           motion to dismiss
                                                           duress
           summary judgment
                                                           mistake
           statute of limitations              statute of frauds
           discovery                                      partial performance
      deposition                                           main purpose rule
                                                parole evidence
      request for documents
                                                contract terms
pretrial conference
                                                           course of dealing
jury (not mandated)
                                                           trade usage
voire dire
           challenge for cause
                                                condition precedent
           peremptory challenge
                                                condition subsequent
expert witnesses
                                                concurrent condition
                                                personal satisfaction
           hearsay
                                                           strict performance
           best evidence
                                                           substantial performance
End of trail motions
                                                           material breach
directed verdict
                                                commercial frustration
preponderance of the
                                                           compensatory damages
                                                           consequential damages
           mediation
                                                           nominal damages
           arbitration
                                                           punitive damages mitigation
           settlement
                                                           liquidated damages
                                                           injunction
Contracts                                                  specific performance
                                                           recession
         restitution                                       Personal Property
         reformation                                       Fixtures
cover                                                       Trade Fixtures
anticipatory repudiation                          Security Interest in Real and personal property
assurances                                        Holding Property
profit                                                      Single
                                                            Tenancy in Com
Tort- intentional and unintentional                         Joint Tenancy
                                                            Community Property
intentional                                       Easements
            assault                              Adverse Possession
            battery                              Grant Deed/Quitclaim Deed
            defamation                           Recording Statutes
            slander                              Escrow
            libel                                Taking
            publication
            false imprisonment                   Wills
            privacy
            emotional harm                       Holographic
            harassment                           Executor
negligence                                        Bequest
            duty                                 Residuary
            breach                               Heirs
            proximate cause                      Pour over
            actual cause                         Mutual
            injury
            last clear chance
            assumption of risk
            comparative negligence               A/B
res ipsa loquitur                                 Living Will
product liability                                 Durable Power of Attorney
warranty                                          Ethical Will (not in book)
            expressed
            implied
      fitness for particular purpose
strict liability

Crime –

beyond a reasonable doubt
5th amendment
exclusionary rule
Miranda -1966
criminal intent
M’Naghten Test
Model penal code – lack of substantial capacity
mens rea
diminished capacity
preliminary hearing
jury – voire dire
excused for cause
pre emtatory challenges
Statute of Limitations
Plea bargin
           grand jury
           search and seizure - 4th amendment


          Real Property
                                                     Employment Law
Review from Mid-Term
                                                              Worker’s compensation
           Offer                                              OSHA
           Acceptance                                         ERISA
           Consideration                                      Family Medical Leave Act
           Legal Purpose                                      Equal Pay Act
           Capacity                                           Title VII
           Statute of Frauds                                  Disparate Treatment
           Misrepresentation                                  Disparate Impact
           Mistake                                            BFOQ
           Undue Influence                                    Disability
           Fraud                                              Religion
           Duress                                             ADEA
           Liquidated Debt                                    Sexual Harassment
           Unliquidated Debt                                  Racial Harassment
           Promissory Estoppel                                ADA
           Quasi Contract                                     Expectation of Privacy
           Unconscionable                                     At Will Employment
           Unenforceable                             Ethics
           Valid                                              Decision model
           Compensatory Damages                                    Stakeholder
           Consequential Damages                                   Values
           Punitive Damages                                        options
           Mitigate Damages                                   utilitarian
           Professor's ethics model                           deontological
           Kholberg                                           theological
           Duty                                               Kohlberg
           Proximate Cause/actual cause              International
           Assumption of risk                                 Duties
           Last Clear chance                                  Quotas
           Comparative/contributory     negligence            Tariffs
           Res Ipas Loquitur                                  GATT
           Warranty - express, implied                        NAFTA
           Disclaim/limit                                     Countervailing Duties
           Duty                                               Dumping
           Misrepresentation                                  Documentary Letter of Credit
           Strict Liability                                   Clauses in foreign contracts
           Privity                                            Anti trust
           Product Misuse                                     Act of State
           Assumption of Risk                                 Foreign Corrupt Practices Act
           Contributory/Comparative                           Sovereign Immunity
                                                              Contract terms
                                                                   Choice of Law
Property                                                           Choice of Forum
                                                                   Language
           Real Property                                           Currency
           Personal Property                                  Force Majeuire
           Trade Fixtures
           Security Interest in Real,                Business and the Constitution
           Personal Property
           Tenancy in Common                                  State Action
           Joint Tenant                                       Speech/ political and commercial
           Community Property                                 Spending
           Life Estate - Remainder                            Tax
           Easements                                          Taking
           Adverse Possession                                 Commerce
           Grant Deed/Quitclaim Deed                          Due Process
           Recording Statutes                                 Search and Seizure
           Escrow                                             Equal Protection - strict scrutiny   and
           Taking                                             rational basis test
Business Organizations                   Administrative Agencies

         Sole Proprietorship                       Enabling Legislation
         Partnership                               Separation of powers
         Partnership by estoppel                   Investigative Power
         Partnership Agreement                     Legislative (rulemaking)
         Corporation                                          Power
         Directors                                 Adjudicatory power
         Officers                                  Administrative hearing
         Shareholders                              De Novo Review
         By Laws                                   Substantive Evidence
         Minutes                         Cyber law and E-Commerce
         Stock Certificates                       Jurisdiction
         Buy-sell Agreement                       Encryption
         Pierce Corporate Veil                    Filters
         Limited Partnership                      Stalking
         General Partner                          Terrorism
         Limited Liability                        Spam
         Company/Partnership                      Squatting
         Fiduciary Duty of Care                   Domain names
         Fiduciary Duty of Loyalty                Electronic transactions
         Respondant Superior                      Electronic signatures
         Agency-express, implied,
                                         Consumer Protection
Anti Trust                                       Deceptive Advertising
                                                 Bait and Switch
         Sherman Act                             Puffing
         Rule of Reason                          FTC
         Per-se violations                       Full Disclosure
         Clayton Act                             Truth in Lending Act
         Mergers-horizontal, vertical,           Fair Credit Reporting Act
         conglomerate                            Fair Debt Collection Practices
         FTC                                     Food and Drug Act
         Robinson-Patman                         Consumer Protect Safety Act

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