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LAW 301 · Unit 2 of 6

Contracts and Commercial Relationships

Business Law, Ethics and Corporate Governance

Start unit · 5 lessons →

Learning objectives

After completing this unit, you will be able to:

  • to business decisions
  • Apply the frameworks in "Contracts and Commercial Relationships" to a real management decision
  • Make progress on your Business Law, Ethics and Corporate Governance case analysis applied project

Why this matters

Contracts and Commercial Relationships is essential to Business Law, Ethics and Corporate Governance. Lessons build fluency with anchor-company examples, worked problems, and assessments on the unit page.

Lesson

Unit overview

Complete all 5 lessons in order. Each lesson follows the program authoring standard: conceptual prose, worked examples, practice problems, and managerial judgment prompts. Finish unit exercises and the knowledge check before marking the unit complete.

Connection to applied work

This unit feeds directly into Business Law, Ethics and Corporate Governance case analysis. As you read, capture notes, examples, and data you can reuse in that deliverable. Strong students finish each unit with a draft section of their project, not just highlights.

Practice

  1. Write a one-page summary of this unit in your own words without looking at the lesson.
  2. Find a real company example (public filing, news article, or personal experience) that illustrates the main concept.
  3. Draft one paragraph recommending an action a manager should take based on this unit.
  4. Add at least three terms from this unit to your course glossary.

Knowledge check

Answer these without notes before marking the unit complete:

  1. What is the central idea of "Contracts and Commercial Relationships"?
  2. What mistake do beginners most often make when applying this material?
  3. How does this unit help you complete Business Law, Ethics and Corporate Governance case analysis?
  4. What is one decision you face this month where this unit applies?

Key takeaways

  • to business decisions
  • Business concepts only matter when they change a decision.
  • Your LAW 301 assessment (Contracts, employment law, governance, ethics, and compliance for managers.) rewards applied understanding, not memorization.

Unit assessment

Complete each section below. Score 80%+ on the quiz to finish this unit's assessment.

40% applied project35% knowledge checks25% reflections

Exercises

Apply what you learned in this unit with structured practice.

ExerciseApplied practice: Contracts and Commercial Relationships45 min
Complete a focused practice exercise on **Contracts and Commercial Relationships**. 1. Choose a real company, product, or situation you know. 2. Apply one core framework from this unit to analyze it. 3. Write your analysis in 300–500 words with a clear recommendation. 4. Cite at least one credible source.

Deliverable

300–500 word analysis document saved to your portfolio under LAW 301.

Rubric

  • • Framework applied correctly (not just named)
  • • Specific evidence from a real example
  • • Clear recommendation with tradeoffs acknowledged
  • • Professional writing with source citation
ExerciseDrill: Contracts and Commercial Relationships30 min
Work through the practice problems in the unit lesson without looking at notes. Then check your work against the lesson and write a short reflection: - What you got right - One mistake you caught - One concept to review before the next unit

Deliverable

Problem solutions + 150-word reflection in your LAW 301 workbook.

Rubric

  • • Attempted all practice items before checking answers
  • • Honest reflection on errors
  • • Identifies a specific review action

Case analysis

Analyze a case using frameworks from this unit.

CaseCase analysis: Contracts and Commercial Relationships60 min
Analyze a real business case through the lens of **Contracts and Commercial Relationships**. Choose a public company event, HBR-style case, or documented decision. **Deliverable structure:** 1. Situation summary (150 words) 2. Analysis using this unit's frameworks (400 words) 3. Recommendation (150 words) 4. Risks and what would change your mind

Deliverable

2-page case write-up in your portfolio.

Rubric

  • • Case facts are accurate and sourced
  • • Analysis uses unit frameworks explicitly
  • • Recommendation is justified with tradeoffs
  • • Risks are specific, not generic

Knowledge quiz

Check your understanding before marking the unit complete.

1. BioResin delivered 62% of resin for six weeks. Greenline bought spot resin at a premium. Primary UCC remedy concept:

2. Schedule E says annual audits but emails show five audits last year. Which interpretation tool is the customer likely to use?

3. Restaurant compost pilot failed at 120 days though marketing cited 180-day commercial facility composting. Strongest contract theory:

4. Sales wants to accept uncapped indemnity for a $9M account. Best negotiation package element:

5. Clickwrap customer portal adds sustainability audit clause in section 14. UX fix aligned with enforceability:

6. Liquidated damages must generally be:

7. Integration clause in MSA limits use of prior oral sales promises. Helps Greenline resist:

8. Negotiating BATNA for Greenline on harsh customer paper means:

Next unit: Employment, Competition, and Intellectual Property →