Compare and contrast civil and criminal laws

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Question

Include Itext citation from Kelly, M., and Williams, C. (2023). Foundations of Business (6th ed.). Cengage Learning.

The world of business would be in total chaos without laws governing business practices. Would you want to invest in companies or borrow money to start a business if there were no laws protecting your investment or business transactions? Probably not. This review will cover basic elements of the legal system and how they relate to business.

Read Appendix 2: Business Law and answer the following questions in your own words:

1. Explain the four sources of law. Compare and contrast civil and criminal laws.

2. Define what is meant by contract in business and describe the conditions that make a contract enforceable. Define breach of contract and explain what happens when this occurs.

3. Explain the principle-agent relationship and describe the obligations between the parties.

4. Describe the differences between the three types of bankruptcies.

5. Define intellectual property and explain the three ways in which it can be protected.

Reference no: EM133809522

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