Business Law: Fundamentals and Overall Nature

Description

Description: This course introduces students to the legal system, business and corporations law and related matters. Examine the common law and statutory principles relating to the commercial environment and corporate governance.

Background: Why is Law Important?

The law has many functions in modern society. Some of the major ones are:
- Determining standards,
- Sustaining order,
- Settling disputes, and
- Protecting rights.
The laws may serve more than one principal function and there are many more functions than these four.

Corporate Governance

Corporate governance can be defined as a system of structures, rights, duties, and obligations by which corporations are directed and managed. Governance facilitates the structure through which corporations set and pursue their aims, simultaneously reflecting the social, regulatory and market environment.

There has been renewed interest in the corporate governance practices of modern corporations, particularly in relation to accountability and sustainability. Corporate scandals of various forms have maintained public and political interest in corporate governance.