BA 101 Chapter 6: BA Chapter 6 Notes

• School: University of Oregon
• Department: Charles H. Lundquist College of Business
• Course: BA 101
• Professor: Dusseau

Document Summary

Ba chapter 6. business and society: the legal and regulatory system. Property law established the rights of a person to own, use, transfer, and captures the economic value of different kinds of property. Real property real estate and everything attached to it. Personal property property other than real property. Intellectual property property generated by a person"s creative activities. Legal purpose objective of the contract is described and it must be for a legal purpose. Consideration to be a contract, the agreement to exchange must involve something of economic value (money, goods, or services) Contractual capacity to be a legal contract, the parties must have a legal ability to enter into the contract they must have contractual capacity. Statutory law written laws established by federal, state, county, or city governments. Common law unwritten laws that are established by judicial decisions; such law in the united. Administrative law regulations established by administrative agencies.