Law can be viewed as a vast set of theories of liability.  An individual or entity
is subject to civil or criminal liability, or has a right to a civil remedy, only if
there is a legal theory that, when applied to facts that can be proved in court,
provides for the imposition of that liability or provides a remedy.  The legal 
environment of business consists of the set of those theories applicable to engaging 
in business.  As those theories change over time, the legal environment of business 
changes.

The objective of this course must be more modest than preparing each student to 
engage in his or her career without resort to seeking the advice of counsel.  
Nevertheless, only with some familiarity with the substance of applicable legal rules 
can one determine that a particular factual pattern presents legal issues that 
warrant seeking the advice of legal counsel.  This course (i) introduces students to 
legal principles pertinent to business, to allow them to recognize the existence of 
legal issues arising from business practice; (ii) provides knowledge to facilitate 
business decisionmaking in matters involving legal issues that are customarily 
addressed without reference to legal counsel; (iii) provides knowledge of the 
framework, structure and content of the legal and regulatory environment of business 
to allow knowledgeable and effective interaction with legal and other regulatory 
professionals; and (iv) introduces pertinent ethical considerations.

Topics
Introduction and terminology
Court systems and procedures
Constitutional law
Torts and strict liability
Contracts and sales
Agency
Business forms
Creditor-debtor relations and bankruptcy
Antitrust
Criminal law
Discrimination
Intellectual property
Administrative law
Ethics
Other aspects of private law