Standard: Understands business's responsibility to know, abide by, and enforce laws and regulations that affect business operations and transactions
Performance Element: Acquire foundational knowledge of business laws and regulations to understand their nature and scope.
Comply with the spirit and intent of laws and regulations (BL:163, LAP-BL-163) (CS)
Discuss the nature of law and sources of law in the United States (BL:067) (SP)
Describe the United States' judicial system (BL:068) (SP)
Describe methods used to protect intellectual property (BL:051) (SP)
Describe legal issues affecting businesses (BL:001) (SP)
Performance Element: Understand the civil foundations of the legal environment of business to demonstrate knowledge of contracts.
Identify the basic torts relating to business enterprises (BL:069) (SP)
Describe the nature of legally binding contracts (BL:002) (SP)
Performance Element: Explore the regulatory environment of United States' businesses to understand the diversity of regulations.
Describe the nature of legal procedure (BL:070) (SP)
Discuss the nature of debtor-creditor relationships (BL:071) (SP)
Explain the nature of agency relationships (BL:072) (SP)
Discuss the nature of environmental law (BL:073) (SP)
Discuss the role of administrative law (BL:074) (SP)
Performance Element: Apply knowledge of business ownership to establish and continue business operations.
Explain types of business ownership (BL:003, LAP-BL-001) (CS)
Performance Element: Acquire knowledge of commerce laws and regulations to continue business operations.
Explain the nature of import/export law (BL:145) (SP)
Describe the nature of customs regulations (BL:126) (SP)
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