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Covering a broad variety of key subjects and emphasizing ethical decision making, the text presents all business law topics required for success on the CPA exam.Cases are carefully summarized and integrated in order to present both recent legal issues and landmark court decisions while minimizing legal jargon.How does the law determine which promises are enforceable contracts and which are not? In a dispute, the court must initially determine whether the agreement constitutes a contract or not.In order for an agreement to be considered a valid contract, one party must make an offer and the other party must accept it.Courts are only empowered to enforce contracts, not to write them, for the parties.

Extremely reader friendly, ESSENTIALS OF BUSINESS LAW AND THE LEGAL ENVIRONMENT, 12e uses a nontechnical presentation to help you understand the dynamics of today's legal environment for business.If there is a valid defense to a contract, it may be voidable, meaning the party to the contract who was the victim of the unfairness may be able to cancel or revoke the contract.In some instances, the unfairness is so extreme that the contract is considered void, in other words, a court will declare that no contract was ever formed.Statutes prescribe and restrict the terms of a contract where the general public is affected.The terms of an insurance contract that protect a common carrier are controlled by statute in order to safeguard the public by guaranteeing that there will be financial resources available in the event of an accident.

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