Introductory Business Law CLEP

Here are some specific details about the version of the exam I took.

If you can go down the following list and check off that you have covered each item, you will not fail this exam:

LAW VIEWS:

(not very much on the exam)

Analytical View

Command View

Critical View

Historical View

Law & Economics View

Legal Realism

Natural Law View

Sociological View

Traditional View

ETHICS:

(not very much on the exam)

Utilitarianism (Bentham/Mill)

Kantian Ethics (Duty)

Ethical Fundamentalism

Ethical Relativism

Maximising Profits Theory

Corporate Citizenship Theory

Moral Minimum Theory

Social Justice Theory (Rawl)

Stakeholder Interest Theory

CONTRACT LAW:

Elements of a Contract: Consideration, Capacity, Agreement, Legality

Types of Contract: Implied-in-fact, Implied-in-law (quasi), Express

Unilateral vs. Bilateral

Executory Contract vs. Executed Contract

Liquidated Damages

Forbearance

Novation

Rescission

Assigned Rights vs. Delegated Duties

Creditor Beneficiaries vs. Donee Beneficiaries

Exceptions to Consideration: Moral Obligation, Duty, Past Consideration, Illusory Promise

Mutual Mistake vs. Unilateral Mistake (definition and consequences)

Statute of Frauds (what it is and what it covers).

Discharge of a Contract: Void, Voidable, Unenforceable

CONSTITUTIONAL LAW & THE U.S. COURT SYSTEM:

(not very much on the exam)

Commerce Clause

Bill of Rights (I had a question on the 1st and 2nd Amendments specifically)

Civil vs. Criminal (procedures/crimes/court system)

ANTITRUST LAW:

(not very much on the exam)

Sherman Act

Clayton Act

Patman-Robinson Act

Federal Trade Commission

Restraint on Trade

Primary, Secondary, and Tertiary Line Injuries

TORT LAW:

Intentional Tort vs. Negligent Tort

Slander vs. Libel

Assault versus Battery

Proximate Cause vs. Cause in Fact

Negligence Per Se

Res Ipsa Loquitur

Tort

Strict Liability

Warranty of Title

Copyright vs. trademark

EMPLOYMENT LAW:

(not very much on the exam)

Fiduciary relationships

Agency

Fair Labor Standards Act

Bakke v University of California

FMLA

EEOC

Consolidated Omnibus Budget Reconciliation Act (COBRA)

Civil Rights Act - Title VII (What is covered and what isn't)

Disparate Treatment

Disparate Impact

ENVIRONMENTAL LAW:

(not very much on the exam)

Comprehensive Environmental Response, Compensation & Liability Act (CERCLA/Superfund)

Clean Air Act

Clean Water Act

EPA

Endangered Species Act

MISCELLANEOUS:

(passing familiarity will suffice for everything not listed above)

- Study all of Instantcert

- Read chapters 1-24 of this site (only one page per chapter):

Lecture Notes — Ch. 1

There is no need to stress out over this exam. Familiarize yourself with the various terms mentioned above and then go and pass it.