TEMPLE UNIVERSITY
SCHOOL OF BUSINESS AND MANAGEMENT
Department of Legal Studies
Law 104 – " The Consumer and the Law"
(Formerly "Advanced Legal Studies")
FALL 2000
SYLLABUS
Joseph N. Bongiovanni, III
208G Speakman Hall
(215) 204-6674
E-Mail: jbongi01@unix.temple.edu
The assigned text for this course is West's Business Law, Eighth Edition. This is the
textbook that is generally used for the majority of courses in our department. In order to spare the
students the expense of a specialized book we will continue to use this text for this course. While it
has all of the information needed, it is not ideally organized for this course. Some chapters we will do
parts of, others in survey. It will be necessary for us to jump from one chapter to another. The
students are advised to keep close attention to lectures.
The principle purpose of this course is to discuss how in our legal system it is possible for
individuals to acquire wealth. There are several forms of wealth, principally real estate and personal
property. Each will be discussed as well as specific means that each type of property can be created.
We will discover that there are a variety of types of ownership. Some variety is created when we
decide to acquire property with others. Individuals can acquire property together in a variety of
forms. A partnership can be created to hold, develop, buy and sell property. A corporation can
perform a similar function and various hybrid entities which have some of the characteristics of
partnership and some of corporation can also be utilized. We can also acquire different types of
ownership rights in property. These rights can vary from the most complete form of ownership
allowed in our system to lesser forms of ownership that often have reduced value and have
additional advantages and disadvantages.
It is important to note that the distinction between real and personal property is a dynamic
one. Property can begin their existence as real property, be converted to personal property,
reconverted to real property and converted once again to personal property.
In order to do this preliminary analysis, we will deal with Chapters 46, 47, and 48. After this
segment, we will have our first quiz.
We also need to be aware of the variety of means that can be used to acquire wealth. We can
purchase real or personal property. We can also acquire property by inheritance. We can make and
create certain forms of personal property. In addition to buying or inheriting real estate you can
acquire real estate by adverse possession or by certain natural events such as tides or ocean
currents. You can acquire real and personal property as a result of gifts. Gifts can be absolute or
conditional.
It
is
important
that
we
become
familiar
with
these
concepts.
The textual material covering this section is Chapter 50. When we are finished this section, we will
have our second quiz.
We next need to understand what we can do with our property and the concept of using it as
security for loans on a voluntary basis and what creditors can do with respect to our property on an
involuntary basis. The ability to use a property as a collateral source voluntarily is crucial to
understanding modern economic life. What creditors can do to our property on an involuntary basis is
essential information in computing business risk and making well informed business decisions.
The textual material discussing this section consists of Chapter 28. Similarly, a quiz will occur
after this third section is covered.
Lastly, we must understand that one form of wealth may well be an economic claim against
another individual or entity. We need to know what a creditor can do to collect on his claim. We will
first do this analysis in the form of general remedies pursuant to state law. We will then discuss how
federal bankruptcy law effects the rights of both creditors and debtors. A quiz will occur after this last
section. Chapters 29 and 30 will be the basis for this quiz.
The final exam will be a cumulative exam dealing with all of the issues.
In addition, you will be required to submit a four to five page paper no later than one week
before the end of classes. The topic of the paper will be: "Are the debtor/creditor law and the
property rights of individuals balanced?" "Is there an unfair bias in favor of either the debtor or the
creditor?" "Why?" Give specific examples.
The final exam is set by the University and will not be waived under any circumstances. All
students are encouraged to take their quizzes on the assigned days. Exceptions will be made only
upon extreme circumstances upon a written request. There will be only one make up ever scheduled
for any quiz. No make-ups for any quizzes will ever be scheduled during the last week of classes or
exam period.