3.7.Specify the primary and 3,6 5 Students will be given examples of secondary liability on commercial liabilities then will be required to paper. identify whether they are primary or secondary liability on commercial paper. Assessment Type: Quiz Evaluation Type: Formative 3.8.Identify different types of 3,6 5 Students will be given a quiz on the endorsement, the liabilities and how types of endorsements, the liabilities negotiable instruments may be and how negotiable instruments may discharged. Identify the be discharged. The quiz will also responsibilities of a holder of include a case analysis on the commercial paper. responsibilities of a holder of . commercial paper. Assessment Type: Quiz Evaluation Type: Summative 3.9.Determine the difference 3,6 5 Students will enumerate the most between limited and universal important advantages of being a defenses to holders and identify the holder in due course. Students will most important advantages of being also be given examples of defenses a holder in due course. and will be asked to identify whether they are examples of limited or universal defense of holders of commercial papers. Assessment Type: Individual Activity Summative Evaluation Type: D. COURSE CONTENT I. The Legal Systems and the Legal Environment of Business. The need for laws, sources of laws and differences between law and torts. Function of courts settlement of lawsuits. The role of government in regulating business. II. The legal aspects of contracts. Nature and classes, offer and acceptance, defective contracts, what constitutes a legal binding contract as opposed to illegal contracts. Who may enter into contracts; the mental and legal capacity to contract. The consideration for contracts. The written contract. Third parties and contracts and the termination of the contract. III. Sales. Sales of Personal Property. Formalities of a sale. Transfer of Title and Risk in Sales Contracts, Warranties and Product Liability, Consumer Protection. IV. The nature of commercial paper. The important aspects of negotiability. The promissory note and draft specifications. The liabilities of holders of commercial paper, holders in due course and defenses. V. Nature and creation of an agency, operation and termination of an agency. Employer and employee relationships and labor legislation.
3.7.Specify the primary and secondary liability on commercial paper. 3,6 5 Students will be given examples of liabilities then will be required to identify whether they are primary or secondary liability on commercial paper. Assessment Type: Quiz Evaluation Type: Formative 3.8.Identify different types of endorsement, the liabilities and how negotiable instruments may be discharged. Identify the responsibilities of a holder of commercial paper. . 3,6 5 Students will be given a quiz on the types of endorsements, the liabilities and how negotiable instruments may be discharged. The quiz will also include a case analysis on the responsibilities of a holder of commercial paper. Assessment Type: Quiz Evaluation Type: Summative 3.9.Determine the difference between limited and universal defenses to holders and identify the most important advantages of being a holder in due course. 3,6 5 Students will enumerate the most important advantages of being a holder in due course. Students will also be given examples of defenses and will be asked to identify whether they are examples of limited or universal defense of holders of commercial papers. Assessment Type: Individual Activity Evaluation Type: Summative D. COURSE CONTENT I. The Legal Systems and the Legal Environment of Business. The need for laws, sources of laws and differences between law and torts. Function of courts settlement of lawsuits. The role of government in regulating business. II. The legal aspects of contracts. Nature and classes, offer and acceptance, defective contracts, what constitutes a legal binding contract as opposed to illegal contracts. Who may enter into contracts; the mental and legal capacity to contract. The consideration for contracts. The written contract. Third parties and contracts and the termination of the contract. III. Sales. Sales of Personal Property. Formalities of a sale. Transfer of Title and Risk in Sales Contracts, Warranties and Product Liability, Consumer Protection. IV. The nature of commercial paper. The important aspects of negotiability. The promissory note and draft specifications. The liabilities of holders of commercial paper, holders in due course and defenses. V. Nature and creation of an agency, operation and termination of an agency. Employer and employee relationships and labor legislation.