Introductory Business Law
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Introductory Business Law
This course can be used as a study resource, for professional development, or to earn college credit by passing a CLEP™ exam (multiple-choice examination). Each college sets its own credit-granting policies for the exam, so check with your college admissions office, test center, or academic adviser before taking the test.
This course covers material that is usually taught in an introductory one-semester college course in the subject. A major emphasis of the exam tests the student’s understanding of the functions of contracts in American business law. The student should be able to define fundamental legal terminology, identify and explain required elements of torts, contracts, etc. and understand the legal and ethical issues that arise in business decisions and the laws that apply to them.
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- Knowledge of the basic facts and terms
- Understanding of concepts and principles
- Ability to apply knowledge to specific case problems
Introductory Business Law
Corporate law (also known as business law or enterprise law or sometimes company law) is the body of law governing the rights, relations, and conduct of persons, companies, organizations and businesses. The term refers to the legal practice of law relating to corporations, or to the theory of corporations. Corporate law often describes the law relating to matters which derive directly from the life-cycle of a corporation.[1] It thus encompasses the formation, funding, governance, and death of a corporation.
wikipedia.org/wiki/Corporate_lawHundreds of Videos
The Introductory Business Law exam contains approximately 100 questions to be answered in 90 minutes. Some of these are pretest questions that will not be scored.
CLEP™ Score Information
Credit-Granting Score for Introductory Business Law
ACE Recommended Score*: 50
Semester Hours: 3
Each institution reserves the right to set its own credit-granting policy, which may differ from that of ACE. Contact your college as soon as possible to find out the score it requires to grant credit, the number of credit hours granted, and the course(s) that can be bypassed with a satisfactory score.
The American Council on Education’s College Credit Recommendation Service (ACE CREDIT) has evaluated CLEP processes and procedures for developing, administering, and scoring the exams. The score listed above is equivalent to a grade of C in the corresponding course. The American Council on Education, the major coordinating body for all the nation’s higher education institutions, seeks to provide leadership and a unifying voice on key higher education issues and to influence public policy through advocacy, research, and program initiatives. Visit the ACE CREDIT website for more information.*
