Explain the basic elements of enforceable contracts
Recognize the circumstances in which courts will refuse to honor particular agreements
Evaluate the advantages and disadvantages of different types of business associations
The Fundamentals of Business Law course introduces MSJ students to the law of contracts and to basic principles governing different forms of business associations. Students study contract formation, the nature and limits of contractual agreements, defenses to contract enforcement, and remedies for breach of contract, including how to estimate the amount of damages likely to be awarded in breach of contract cases. Course material also covers formation and termination of partnerships, corporations, agency and sole proprietorships, including the advantages and disadvantages of different types of business associations, the legal obligations of agents, partners, and corporate officers and directors, and the elements of selected business torts.