MG261 Business Law II

for U2DD 2005

Printer Friendly

MG 261
U2DD05, Term V, Summer 2005 Bill Rickrich, Adjunct Senior Professor
Telephone numbers work 1-740-349-6220 home 1-740-366-6175
Email address:
June 10-12, June 24-26 05
Fridays 1700 -2245 hrs. and Sats./ Suns. 0800-1745 hrs.
DSCC, Columbus, Ohio
Prerequisites: MG 260
Credit hours: 3


The mission of Park University, an entrepreneurial institution of learning, is to provide access to academic excellence, which will prepare learners to think critically, communicate effectively and engage in lifelong learning while serving a global community.

Park University will be a renewed international leader in providing innovative educational opportunities for learners within the global society.

A continuation of the study of contracts, agency, employment, and negotiable instruments; comparison of social responsibility and legal aspects of selected issues.
The instructor’s educational philosophy is one of interactiveness based on readings, lecture, dialogue, case-studies and examinations.

1. Define the relationship between the American legal system and business. 2. Explain teh case law/hypothetical example format. 3. Discuss legal issues within the relevant format. 4. Arrive at rules of law and formulate those decisions in essay form.

* To give students an understanding of issues related to the performance and breach of contracts for the sale of goods. * To give students an understanding of issues related to negotiable instruments. * To examine the law of personal and real property.
* To afford the student an understanding of the issues pertaining to the liability of accountants and other professionals. * To examine legal issues related to the formation and operation of different forms of business


The student will be able to identify and distinguish among the major forms of business entities and to generally describe the differences in liability concerns for each form. One of the primary objectives of this course is to enable the student to assimilate the principals of law studied in this course and in Business Law I with the various forms of business entities that are studied. The student will be able to identify and describe major issues related to the law of personal property, real property, negotiable instruments and bailments. The student will be able to identify and will be able to distinguish among liability issues pertaining to accountants and other professionals who interface with business operations. This course is intended to embody the critical, civic and value literacies in the curriculum. A student with critical literacy will be able to gather, evaluate and communicate information effectively and to recognize varieties of problem solving strategies. A student with civic literacy will be able to see the complexity of social, political and economic systems and problems on a national scale and will be able to develop ways that would contribute to the solution of such problems through effective citizenship participation. A student with value literacy will be sensitive to value questions and will possess tools for analyzing value questions and testing these questions and the answers generated throughout his or her life.


Clarkson, Kenneth, et al., West’s Business Law, ninth edition, West Legal Studies in Business, 2004.

Additional material will be handed out in class by the instructor as required.

Students will make use of periodicals available in local, off-base libraries in order to find and read articles pertaining to current topics on the areas of the law covered in this course. Among the best sources of such material are The Wall Street Journal, Time, Newsweek, US News and World Report, and local newspapers. Relevant articles will be discussed in class on a regular basis. Students will also be encouraged to utilize the Internet to locate additional information and articles of interest.


Academic honesty is required of all members of a learning community. Hence, Park will not tolerate cheating or plagiarism on tests, examinations, papers or other course assignments. Students who engage in such dishonesty may be given failing grades or expelled from Park.


Plagiarism – the appropriation or imitation of the language or ideas of another person and presenting them as one’s original work – sometimes occurs through carelessness or ignorance. Students who are uncertain about proper documentation of sources should consult their instructors.


Instructors are required to keep attendance records and report absences. The Instructor may excuse absences for cogent reasons, but missed work must be made up within the term of enrollment. Work missed through unexcused absences must also be made up within the term of enrollment, but unexcused absences may carry further penalties. In the event of two consecutive weeks of unexcused absences in a term of enrollment, the student will be administratively withdrawn, resulting in a grade of “F.” An “Incomplete” will not be issued to a student who has unexcused or excessive absences recorded for a course. Students receiving Military Tuition Assistance (TA) or Veterans Administration (VA) educational benefits must not exceed three unexcused absences in the term of enrollment. Excessive absences will be reported to the appropriate agency and may result in a monetary penalty to the student. Reports of “F” grade (attendance or academic) resulting from excessive absences for students receiving financial assistance from agencies not mentioned above will be reported to the appropriate agency.


Assignments not submitted on the due date will receive a reduced grade unless prior acceptable arrangements are made by the student with the instructor.


Class participation is expected and will form a portion of the final grade. Students are expected to attend all classes and be on time for class. Roll will be checked at each class meeting. Students are expected to make up missed work. Students are expected to be prepared for classes and for examinations.


Park University is committed to meeting the needs of all students who meet the criteria for special assistance. These guidelines are designed to supply directions to students concerning the information necessary to accomplish this goal. It is Park University’s policy to comply fully with federal and state law, including Section 504 of the Rehabilitation Act of 1973 and the Americans with Disability Act of 1990, regarding students with disabilities and, to the extent of any inconsistency between these guidelines and federal and /or state law, the provisions of the law will apply. Additional information concerning Park University’s policies and procedures related to disability may be found on the Park University web page:


Weekend 1 * Formation of Sales and Lease Contracts * Performance of Sales and Lease Contracts
* Remedies for Breach of Sales and Lease Contracts
* Chapters 19, 21 and 22
* Negotiable Instruments
* Transferability and Holder in Due Course
* Chapters 24 and 25
* Secured Transactions
* Other Creditor Remedies and Suretyship
* Bankruptcy Law
* Chapters 28, 29 and 30

* MIDTERM EXAMINATION: to be taken following class.

Weekend 2 * Personal Property and Bailments
* Real Property
* Sole Proprietorship and Franchises
* Chapters 47, 48 and 35
* Partnerships and Special Business Forms
* Corporations – Formation and Financing
* Corporations – Directors, Officers and Shareholders
* Chapters 36, 37 and 38
* Limited Liability Companies and Limited Partnerships * Liability of Accountants and Other Professionals
* Chapters 41 and 52

* FINAL EXAMINATION: to be taken following class.


Midterm Examination

Essay 15%
Test 30%
Multiple Choice/True-False

Final Examination

Essay 15%
Test 30%
Multiple Choice/True-False

Class Participation and Attendance 10%


90 – 100 A

80 - 89 B

70 – 79 C

60 – 69 D

Below 60 F


Park University reserves that right to withdraw a student from a class(es) if the student does not meet his/her financial obligations or fails to attend class. Any student failing to attend a class(es) for two consecutive weeks without approved excuses will be administratively withdrawn and notified by mail that a grade of “F” will be recorded. Excused absences may be granted by the instructor for medical reasons, school-sponsored activities and employment-related demands including temporary duty assignments. There are two types of withdrawals, official and administrative. An official withdrawal begins when a student initiates the withdrawal process. Refunds are based on this date. If a student fails to initiate the withdrawal process and is withdrawn for nonattendance, this is an administrative withdrawal. In this case, refunds will be based on the two (2) week policy. Students enrolled in an accelerated 8 or 9-week program must initiate their withdrawal with the appropriate site administrator. Students continuing enrollment but wishing to withdraw from an individual class must do so at their home site. Withdrawals by telephone will not be accepted.