To know how to study business law, first of all, it should be clear what exactly the business law is all about and what its purpose is. Business law is a set of laws formulated for ease in business dealings and the safety and satisfaction of consumers. It encompasses all laws that guide on how to set up a business and then how to run it. This includes all of the laws that govern how to set up, start, manage, run, close or sell a business.
Business law is important for entrepreneurs, managers, and even employees to have a basic knowledge of business law to help them make better decisions regarding the dealings of business.
The primary motive of business law is to maintain order, establish standards, minimize frauds in transactions, protect the rights of consumers and solve any disputes arising therein.
How to study Business Law
To study business law, the most simple and easy way is to grasp knowledge from Google or YouTube. But you can not get all the knowledge on your own without proper guidance. Therefore, it is recommended to take admission to the good law school.
You will get a blend of qualified professors and the most helpful books. You also have to read cases regarding business suits filed in court. As business law is a subject that requires efforts, it is highly recommended to study it under the guidance of professionals in this field.
Business law has many dimensions that include contracts, the law of corporations and other business organizations, commercial papers, income tax, pensions and benefits, trusts and estates, securities law, intellectual properties, secured transactions, etc. The syllabus of business law includes:
How to follow the pattern of Business Law
These are some of the topics and sub-topics that you should study to get an in-depth understanding of the topic of Business Law.
1. Introduction to Business Law
Definition of law
Sources of law
Classification of law
2. Elements of a contract
Terms of a contract
Discharge of a contract
3. Company law
Types of company
Formation of the company
Separate legal entity
4. Legal duties of officers
Majority rule and minority protection
Secretary and auditors
5. Commercial law
Contracts for the sale of goods
6. Insurance law
Types of Insurance
Classification of insurance