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The Legal Environment
Chapter 1
Chapter Outline
1-1 Business Activities and the Legal Environment
1-2 Sources of American Law
1-3 Common Law Tradition
1-4 Classifications of Law
Federal Agencies
State and Local Agencies
Agency Creation
Rulemaking: rules, orders and decisions of
administrative agencies.
Enforcement and Investigation
Adjudication
Legal Positivism
Morality of a law is irrelevant
Applies only to citizens of that nation or society
No higher law than the nations highest governing
body or court
Laws must be obeyed regardless of whether they
are just or unjust