Chapter 1- An Introduction to Business Law

This document is an introduction to business law, as well as some terms to be familiar with for the entirety of this course. Firstly, there is a mention of why laws are required within business; they are required because they allow there to be rules and regulations between the business and its consequences with the government. These laws are in place to regulate the relationship between two parties in a business or business setting. Major factors that are overlooked by business law are employee decisions and employment processes. Examples like maximum weekly hours allowed to work, safety requirements, etc. Not only are laws regulators, but they are also reassuring for the consumer or buyer who understands that the majority of their purchases are overseen by strict business laws that prioritize their safety and well-being above the business profit, and promises that anything they consume or use is deemed safe by our ruling government. There are different sectors of the government, executive, legislative, and judicial branches, which are responsible for enforcing the law, making the law, and implementing the law within our justice system. A few sources of business law are the constitution, statutes which are which are a type of legal framework regulation passed by the congress, common law