business law工商导论11章

1、Business lawFundamentals of Business Warranty担保 Nowadays, it is a common practice to back up a product with a warranty. A warranty can be written or implied (默示) , both representing a promise by the manufacturer or seller that the product will work reasonably well. Written warranties are also called

2、 expressed warranties（明示担保） because the features of the warranty are spelled out in writing . Implied warranties（默认担保）, on the other hand, are unwritten guarantees that automatically become effective at the time of the sale. The most common implied warranty is the warranty of merchantability(可用性). A

3、 negotiable instrument(票据) is any form of business paper used in place of cash to facilitate business transactions.Negotiable instrument include checks, certificates of deposit（存款单）, promissory notes（本票） and drafts（汇票）.Negotiable Instrumentsproperties of negotiable instrument four characteristic： a.

4、it must be in writing and signed by the maker(本票，支票) or drawer（汇票）;必须是书面的，并由出票人签字；b.it must contain an unconditional promise or order to pay a specific sum of money 必须是无条件承诺或指令支付一定金额；c. payment must be made on demand or at a definite future date.必须是可即期支付或在确定的远期支付； d. It must be payable to order or t

5、o bearer必须是可按指令支付或给持票人。Endorsement 背书（背书（EndorsementEndorsement）背书是指汇票的持票人或背书人将收款的权利转让给他人的行为1.Blank Endorsement普通背书普通背书2.Restrictive Endorsement限制性背书3.Special Endorsement特种背书4.Qualified Endorsement限定性背书 Oftentimes, firms authorize people to act on their behalf. The firms are called （委托人） and the aut

6、horized people are known as （代理人）, and the law governing such relationship is called agency law, which forms an important part of business law. The most formal appointment may spell out the powers and duties of the agent as well as the responsibilities of the principal in a written contract called p

7、ower of attorney（委任书） Type for authority of agent: 1. express authority明示权限 (based on a written contract) 2. implied authority默示权限 (derived from business customs) agency law Business bankruptcy In order to relieve the bankrupt businesses from further debt burden and help them begin anew, bankruptcy

8、laws have been developed. According to the bankruptcy laws in the US , a petition for bankruptcy (破产申请)laws can be filed with an appropriate court by the debtor , or by its creditors . If the debtor takes the initiative , the process is called ; otherwise , it is referred to as . In either case , th

9、e debtor becomes bankruptcy. When a business goes bankruptcy , most of its creditors can collect only a portion of the debt owed to them . Therefore ,many creditors would rather work out an extension agreement (延展协议)with the debtor and give the latter an extension of payment terms . They hope that d

10、uring the extension the debtor can be back on his feet again . Or the creditors can work out a composition agreement ,in which case every creditor will take a cut on the debt owed to him . In either case , the creditors can demand some role in the debtors management to make sure their interests are best protected