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Business LibreTexts

6.1: Why It Matters

  • Page ID
    11619
  • Why recognize and describe legal issues in various business scenarios, including the legal implications of the issues?

    INTRODUCTION

    Basic Legal “ISSUES” may seem very similar and perhaps even synonymous with the Basic Legal “CONCEPTS” discussed in the last section but “ISSUES” are quite different. Where as concepts are statements of definitions of law, “issues” are really questions. Issues should be seen as questions of “if or how” a law will be applied to a business problem or to resolve a business litigation. To operate successfully in business you will need to be able to identify basic legal issues and how legal issues affect the resolution of a business dispute or affect the resolution of business litigation.

    In this section you will see how the answers to specific legal issues (questions) in turn provide the answers to really significant and important questions you will encounter, such as:

    1. Does our company actually have a legal contract of sale in this situation?
    2. Is our company legally and financially responsible for the customer’s injuries suffered in out parking lot?

    The answers to each of the above questions will always be answered when the special facts and circumstances of a problem are applied to one or more relevant “LEGAL ISSUES”. In the future whether or not your company wins or loses a business dispute in or out of court will depend on the answers to the specific legal issues arising in the particular dispute.

    To successfully navigate your business through a world of contracts and torts you need to have some ability to understand and identify the legal issues that create each of them.  Remember this as you move through this section.  It’s an essential part of your business law education.

    LEARNING OUTCOMES

    • Propose potential contract terms for a business scenario
    • Identify potential torts to factual scenarios

    Ok, let’s get started!