Introductory Business Law
Introductory Business Law Exam Info
The Introductory Business Law exam covers material that is usually taught in an introductory one-semester college course in the subject. The exam places not only major emphasis on understanding the functions of contracts in American business law, but it also includes questions on the history and sources of American law, legal systems and procedures, agency and employment, sales, and other topics.
50Recommended Score for Credit
3Semester Hours
Knowledge and Skills Required
Contracts30%
- Meanings of terms
- Formation of contracts
- Capacity
- Consideration
- Joint obligations
- Contracts for the benefit of third parties
- Assignment/delegation
- Statute of frauds
- Scopes and meanings of contracts
- Breach of contract and remedies
- Bar to remedies for breach of contract
- Discharge of contracts
- Illegal contracts
- Other
Legal Environment20%
- Ethics
- Social responsibility of corporations
- Government regulation/administrative agencies
- Antitrust law
- Employment law
- Product liability
- Consumer protection
- International business law
Miscellaneous5%
- Agency, partnerships, and corporations
- Sales