Marcus Stein
Business Law
Mr. Jose Companioni
Friday, January 8, 2016
Chapter 1 Questions
1. When does a rule become a law?
A rule might become law as sovereign state issues rules prescribing what is
right and what is wrong.
2. What is business law?
The Business Law is the branch of law that studies the rela$onships involving the
company and the entrepreneur. These rela$onships are the study of the company,
corporate law, nego$able instrument rela$ons, relation of compe$$on law, rela$ons
of intellectual and industrial rights and commercial contracts.
3. What are the objectives of law?
The law is a set of rules applicable to society. These rules aim to protect the freedoms
and fundamental rights and guarantee to all equal treatment. The law also applies to
equity. This means that the law should recognize and protect certain basic individual
rights such as freedom and equality. The law also serves to prevent individuals or
disadvantaged groups do not use their position in society to exploit the disadvantaged
