Business Education Standards - Business Law

BUSINESS LAW addresses statutes and regulations affecting businesses, families, and individuals in their related roles. A knowledge of business law is useful for all students, because all students eventually assume roles as citizens, workers, and consumers in their communities and in society at large.
Businesses operate in a world in which the laws of different governments and judicial systems might conflict. Thus, business students, in particular, must include in their academic preparation a basic knowledge of the legal system and how business law impacts commerce in their own country and abroad. The impact of international business on business law mandates the inclusion of standards that address these complex issues. Each component of the business law standards includes performance expectations related to the laws of different countries. Students need to understand that state, territory, province, or federal law must sometimes work in conjunction with international law.
Technology, too, has significantly affected business law, and, therefore, these standards address computer law as a separate topic because of its emerging importance in the workplace.
Although the standards addressed in this document relate primarily to secondary and postsecondary students, standards for elementary and middle school are also included to provide students at those levels with a basic understanding of law and the legal system.
Below is an overview of the achievement standards for the business law content area. Each achievement standard states the understanding and competency students should attain. Each achievement standard has corresponding performance expectations. Each performance expectation delineates what students need to do to exhibit the knowledge and the skills required to meet the achievement standard. The corresponding performance expectations for each achievement standard are detailed in the publication.
I. Basics of the Law
Achievement Standard: Analyze the relationship between ethics and the law and describe sources of the law, the structure of the court system, different classifications of procedural law, and different classifications of substantive law.
II. Contract Law, Law of Sales, and Consumer Law
Achievement Standard: Analyze the relationships between contract law, law of sales, and consumer law.
III. Agency and Employment
Achievement Standard: Analyze the role and importance of agency law and employment law as they relate to the conduct of business in the national and international marketplaces.
IV. Business Organizations
Achievement Standard: Describe the major types of business organizations operating within the socioeconomic arena of the national and international marketplace.
V. Property Law
Achievement Standard: Explain the legal rules that apply to personal property and real property.
VI. Commercial Paper, Insurance, Secured Transactions, Bankruptcy
Achievement Standard: Analyze the functions of commercial paper, insurance, secured transactions, and bankruptcy.
VII. Computer Law
Achievement Standard: Explain how advances in computer technology impact such areas as property law, contract law, criminal law, and international law.
VIII. Environmental Law And Energy Regulation
Achievement Standard: Explain the legal rules that apply to the environment and energy regulation.
IX. Domestic Relations Law
Achievement Standard: Explain the legal rules that apply to marriage, divorce, and child custody.
X. Wills and Trusts
Achievement Standard: Determine the appropriateness of wills and trusts in estate planning.
From the National Standards for Business Education © 2001 by the National Business Education Association, 1914 Association Drive, Reston, VA 20191.