This textbook is suitable for the following courses: Introductory Legal Environment of Business.
Essentials of the Legal Environment of Business is a briefer, more focused version of the authors’ comprehensive Business Law and the Legal Environment textbook.This textbook covers all the key topics of business law but has a lighter coverage of business contracts and omits the chapters on sales and leases, banking and commercial paper, wills and estates, insurance, and accountancy. It is organized into three main sections: An Introduction to Law (introducing students to the main concepts of the legal environment of business, Black-Letter Law (covering the business law fundamentals of tort, contract, property, agency, and business organization), and Government Regulation (dealing with various aspects of government regulation of business, including regulation for a social safety net).
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Daniel Warner Western Washington University
Daniel Warner is a magna cum laude graduate of the University of Washington, where—following military service—he also attended law school. After some years of civil practice, he joined the faculty at the College of Business and Economics at Western Washington University in 1978 where he is now a professor of business legal studies in the Accounting Department. He has published extensively exploring the intersection of popular culture and the law, for which publications he has five times received the College of Business Dean's Research Award for "distinguished contributions in published research." He served eight years on the Whatcom County Council, two years as its Chair. He has served on the Faculty Senate, on various university and college committees including chairman of the University Master Plan Committee; he has been active in state Bar Association committee work and in local politics, where he has served on numerous boards and commissions over 30 years.
George Siedel University of Michigan - Ann Arbor
Jethro K. Lieberman New York Law School
Jethro K. Lieberman is Martin Professor Emeritus at New York Law School, where for many years he served as dean for academic affairs. He taught in law schools for 33 years, at NYLS and at Fordham University School of Law. Before that, he was vice president at what is now the International Institute for Conflict Prevention and Resolution (CPR) in New York. For nearly ten years, he was legal affairs editor of Business Week magazine. He practiced antitrust and trade regulation law at a large Washington law firm and was on active duty as a member of the Navy’s Judge Advocate General’s (JAG) Corps during the Vietnam era. He earned his BA in politics and economics from Yale University, his JD from Harvard Law School, and his PhD in political science from Columbia University. He is the author of The Litigious Society (Basic Books), winner of the American Bar Association’s top literary prize, the Silver Gavel. Among his many other books are Liberalism Undressed (Oxford University Press) and A Practical Companion to the Constitution: How the Supreme Court Has Ruled on Issues from Abortion to Zoning(University of California Press). He is a long-time letterpress printer and proprietor of The Press at James Pond, a private press, and owner of the historic Kelmscott-Goudy Press, an Albion handpress that was used to print the Kelmscott Press edition of Geoffrey Chaucer’s Canterbury Tales in the 1890s. For a complete bibliography, see www.jethrolieberman.com.
Additions & Errata
- Paragraph on taxation of limited partnership in Chapter 11.4 changed to: The main tax advantage of a limited partnership is that it is a flow-through entity — all profits and losses flow directly to the individual limited partners. Pass-through ("conduit") taxation is usually very important to investors.
- Section 14.4 added on Products Liability on 6/24/19.
- Link in Chapter 4.1, Case Questions, number 4 updated to https://youtu.be/Mh4HdtTlnjg on 10/08/21.