About this course: This class deals with the business law topics that appear on the CPA exam: Agency, Contracts, Debtor-Creditor Relationships, Government Regulation of Business, and Business Organizations. Students will gain an understanding of how these areas of the law affect businesses and their operations, with an eye on preparation for the business law portions of the REG section of the CPA exam. By the end of the class, students will be able to identify the legal principles that govern various business situations and apply those principles to an issue to determine the outcome when the law is applied to the facts of a scenario.
Who is this class for: Primarily students preparing for the REG section of the CPA exam, but also anyone interested in business law.
Created by: University of Illinois at Urbana-Champaign
Taught by: Professor Michael R Fricke, Teaching Assistant Professor
Department of Business Administration
| Level | Intermediate |
| Commitment | 6 to 8 hours per week |
| Language | English |
| How To Pass | Pass all graded assignments to complete the course. |
| User Ratings |
Syllabus
WEEK 1
Introduction to the Course
In this module, you will become familiar with the course, your instructor and your classmates, and our learning environment. This orientation will also help you obtain the technical skills required to navigate and be successful in this course.
2 videos, 4 readings, 1 practice quiz
- Video: About Professor Fricke
- Reading: Syllabus
- Reading: About the Discussion Forums
- Practice Quiz: Orientation Quiz
- Reading: Update Your Profile
- Discussion Prompt: Get to Know Your Classmates
- Reading: Build a Learning Community with Social Media
Module 1: Forming Enforceable Agreements
In this module, you will be introduced to the concept of legally enforceable agreements, also known as contracts. Contracts are the most important legal concept with which businesses must be familiar. This module will introduce all of the elements of a valid contract: agreement, consideration, capacity, legality, and satisfaction of the statute of frauds. By the end of this module, you will be able to recognize a valid, enforceable contract, and identify reasons why an agreement may not be enforceable.
9 videos, 1 reading, 8 practice quizzes
- Discussion Prompt: Make Connections to Topic
- Reading: Module 1 Overview and Resources
- Video: Interview with an Entrepreneur
- Practice Quiz: Lesson 1.1 Knowledge Check
- Video: Offers
- Practice Quiz: Lesson 1.2 Knowledge Check
- Video: Acceptance
- Practice Quiz: Lesson 1.3 Knowledge Check
- Video: Assent
- Practice Quiz: Lesson 1.4 Knowledge Check
- Video: Consideration
- Practice Quiz: Lesson 1.5 Knowledge Check
- Video: Written v. Oral Contracts
- Practice Quiz: Lesson 1.6 Knowledge Check
- Video: Capacity
- Practice Quiz: Lesson 1.7 Knowledge Check
- Video: Legality
- Practice Quiz: Lesson 1.8 Knowledge Check
Graded: Module 1 Quiz
WEEK 2
Module 2: Special Rules for Sales Contracts
In this module, you will learn the special rules that apply to contracts for the sale of goods. A set of statutes, known as UCC Article 2, modifies the common law rules governing contract formation, and this module will detail those modifications. By the end of this module, you will be able to determine which contracts are governed by UCC Article 2 and how they differ from contracts that do not involve the sale of goods.
6 videos, 1 reading, 6 practice quizzes
- Reading: Module 2 Overview and Resources
- Practice Quiz: Lesson 2.1 Knowledge Check
- Video: UCC Article 2 Contract Formation
- Practice Quiz: Lesson 2.2 Knowledge Check
- Video: Title to Goods & Risk of Loss: No Breach
- Practice Quiz: Lesson 2.3 Knowledge Check
- Video: Title to Goods & Risk of Loss: Breach
- Practice Quiz: Lesson 2.4 Knowledge Check
- Video: Sale of Goods by Non-owners
- Practice Quiz: Lesson 2.5 Knowledge Check
- Video: Warranties for Sales of Goods
- Practice Quiz: Lesson 2.6 Knowledge Check
Graded: Module 2 Quiz
WEEK 3
Module 3: Enforcing Agreements
In this module, we continue our discussion of contract law by focusing on the enforcement of agreements. We begin by examining who can enforce contracts, then discuss when contracts can be enforced in court, and end by looking into what types of awards courts will grant when a party has been the victim of a breach of a contract. Throughout this module, we will call special attention to different rules that apply to contracts for the sale of goods.
9 videos, 1 reading, 8 practice quizzes
- Reading: Module 3 Overview and Resources
- Video: Interview with a Business Attorney
- Practice Quiz: Lesson 3.1 Knowledge Check
- Video: Assignment & Delegation
- Practice Quiz: Lesson 3.2 Knowledge Check
- Video: Discharge: Mutual Agreement & Conditions
- Practice Quiz: Lesson 3.3 Knowledge Check
- Video: Discharge: Breach & Operation of Law
- Practice Quiz: Lesson 3.4 Knowledge Check
- Video: Contract Performance: Common Law
- Practice Quiz: Lesson 3.5 Knowledge Check
- Video: Contract Performance: Sale of Goods
- Practice Quiz: Lesson 3.6 Knowledge Check
- Video: Remedies for Breach: Common Law
- Practice Quiz: Lesson 3.7 Knowledge Check
- Video: Remedies for Breach: Sale of Goods
- Practice Quiz: Lesson 3.8 Knowledge Check
Graded: Module 3 Quiz
WEEK 4
Module 4: Agency and Employment Law
In this module, you will learn the foundations of the laws governing employees and employers. We begin with several lessons on the law of agency, which underpins all employment relationships. After that, we look at a series of laws that provide workers with various rights, including the right to unionize and take collective action as part of a labor union. By the end of this module, you will have a basic understanding of some of the fundamental rules that govern the employer-employee relationship.
7 videos, 2 readings, 7 practice quizzes
- Reading: Module 4 Overview and Resources
- Practice Quiz: Lesson 4.1 Knowledge Check
- Video: Rights & Duties of Principals & Agents
- Practice Quiz: Lesson 4.2 Knowledge Check
- Video: Principal & Agent Liability
- Practice Quiz: Lesson 4.3 Knowledge Check
- Video: Agency Termination
- Practice Quiz: Lesson 4.4 Knowledge Check
- Video: Employee Rights
- Practice Quiz: Lesson 4.5 Knowledge Check
- Video: Basics of Labor Unions
- Practice Quiz: Lesson 4.6 Knowledge Check
- Video: Labor Actions
- Practice Quiz: Lesson 4.7 Knowledge Check
- Reading: Course Wrap-Up
- Discussion Prompt: Final Reflection: I used to think... Now I think
Graded: Module 4 Quiz
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Ratings and Reviews
Although the instructor is a teaching assistant, not listed as full professor, he’s excellent. Dynamic and knowledegable. Good mix of practical advice and law.
very very best
Excellent course!
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The course is so insightful and definitely enhances your knowledge on its subject. Its unbelievable how the professor makes such heavy course SUPER LIGHT and fun!!