Why Business Students Should Study Business Law? Answer

Question: 1
Why Business students should study Business Law?

Answer:
Law is fundamental part of business and business has
always been intertwined with the law and legal
regulations. A basic understanding of business law can
help anyone spot potential legal issues as they come
up, make better decisions, and when to seek legal help.
Business Studies students should be known about
business law because if they are starting a business,
what types of law and regulation must be maintain to
launching a business or maintaining balance between
law and business. In Business, there are different types
of business laws such as contract law, intellectual law,
tax law, corporate law, employment law, property law
etc are taken to running business properly.
Business Laws are important for business owners,
managers, and other professionals to have a better
understandings and better decision. Business students
who study business law can anticipate legal needs of
their companies and comprehend how law and
regulations can impact positively or negatively.
Workplace injury, unfairness and maintaining their
intellectual property right for these things business
law must be known to our business students.
Most business students understand how important it is
to communicate clearly with clients and other
corporations, but business law give business students
the knowledge they need to interact clearly and
productively with legal professionals. The business
world is changing rapidly, and successful business
professionals know how to adapt, learn, and solve
problems. The reality of the corporate world is that
some businesses have shorter life spans than others.
Knowing business law properly, they succeed from
their proper right and defend their right if facing
lawsuit against them.
Question: 2
Purpose and Importance of Business Law.
Answer:
Purposes of Business Law:
Business Law:
First of all, we should be known about Business Law.
Business Laws are those which regulate the conduct
of the business. It is also called commercial law or
mercantile law, the body of rules, whether by
agreement, or national or international legislation,
governing the dealings between persons in commercial
matters.
The purpose of business law include maintaining order,
protecting rights and liberties, establishing standards,
and resolving disputes when it comes to businesses
and their interactions with government agencies and
other businesses.
 Establishing standards identifies what types of

behavior are and are not accepted in society. For
example, damage to person or property is
considered a crime because it is not tolerated by
society.
 Maintaining order is necessary for a civilized
society.
 Resolving disputes allows for mitigation of issues
that arise between those with different wants,
needs, views and values. Disputes can be resolved
thorough alternative dispute resolution, which are
official but less formal methods such as mediation
and arbitration.
 Protection liberties and rights ensures each
individual allowed his or her constitutional rights,
including freedom of speech and so forth.
 Business law exist to create reliable standards for
companies to follow.
 Some most important purpose are: Uniform
Commercial Code Uniformity Enforcement
Predictability.
Importance of Business Law:
 The Business law studies are very important as it

helps the management professionals in realizing
the business ethics, he or she must follow in order
to run a proper & authenticated business.
 This must be in accordance with the law &
regulations fundamental in the society.
 It helps to increase and maintain business
transactions and protects consumer.
 Doing a proper business with an authenticated
business license and registration gives confidence.
 It gives huge confidence in handling day to day
business requirements to those who know the
legal aspect of a business and develop capital
market.
 It's important for business owners, managers, and
other professionals to have a basic understanding
of business law to help them make better
decisions.

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Question: 1

Why Business students should study Business Law?

 Establishing standards identifies what types of

Importance of Business Law:

 The Business law studies are very important as it

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