Law of Commercial Transactions

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Don Mayer, University of Denver
Daniel Warner, Western Washington University
George Siedel, University of Michigan
Jethro Lieberman, New York Law School

Pub Date: 2012

ISBN 13: 978-1-4533433-0-2

Publisher: Saylor Foundation

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Table of Contents

• Chapter 1: Introduction to Law and Legal Systems
• Chapter 2: Corporate Social Responsibility and Business Ethics
• Chapter 3: Courts and the Legal Process
• Chapter 4: Constitutional Law and US Commerce
• Chapter 5: Administrative Law
• Chapter 6: Criminal Law
• Chapter 7: Introduction to Tort Law
• Chapter 8: Introduction to Contract Law
• Chapter 9: The Agreement
• Chapter 10: Real Assent
• Chapter 11: Consideration
• Chapter 12: Legality
• Chapter 13: Form and Meaning
• Chapter 14: Third-Party Rights
• Chapter 15: Discharge of Obligations
• Chapter 16: Remedies
• Chapter 17: Introduction to Sales and Leases
• Chapter 18: Title and Risk of Loss
• Chapter 19: Performance and Remedies
• Chapter 20: Products Liability
• Chapter 21: Bailments and the Storage, Shipment, and Leasing of Goods
• Chapter 22: Nature and Form of Commercial Paper
• Chapter 23: Negotiation of Commercial Paper
• Chapter 24: Holder in Due Course and Defenses
• Chapter 25: Liability and Discharge
• Chapter 26: Legal Aspects of Banking
• Chapter 27: Consumer Credit Transactions
• Chapter 28: Secured Transactions and Suretyship
• Chapter 29: Mortgages and Nonconsensual Liens
• Chapter 30: Bankruptcy

About the Book

Law of Commercial Transactions is an up-to-date textbook that covers legal issues that students who engage in commercial transactions must understand. The text is organized to permit instructors to tailor the materials to their particular approach. The authors take special care to engage students by relating law to everyday events with their clear, concise and readable style.


After introductory chapters covering the legal environment of business, Law of Commercial Transactions provides students with context and essential legal concepts relating to key commercial transactions topics: contracts, sales, commercial paper, debtors and creditors. The text provides the vocabulary and legal savvy students will need to talk in an educated way to customers, suppliers, creditors, government regulators and other stakeholders — and to their own lawyers.

About the Contributors

Author(s)

Don Mayer now teaches law, ethics, public policy, and sustainability at the Daniels College of Business, University of Denver, where he is Professor in Residence. His research focuses on the role of business in creating a more just, sustainable, peaceful and productive world. With James O'Toole, Professor Mayer has co-edited and contributed content to Good Business: Exercising Effective & Ethical Leadership (Routledge: Taylor and Francis, 2010). He is also co-author of International Business Law: Cases and Materials, in its 5th edition with Pearson Publishing Co. He recently served as the first Arsht Visiting Ethics Scholar at the University of Miami. After attending Kenyon College (philosophy) and Duke University Law School, Professor Mayer served as a "JAG officer" with the United States Air Force during the Vietnam conflict, and went to private practice in North Carolina. He went to Washington D.C. in 1984 to attend Georgetown University Law Center, where he earned his LL.M. in International and Comparative law in 1985. He began an academic career in 1985 at Western Carolina University, and was a full professor at Oakland University in Rochester, Michigan for many years before coming to the University of Denver. He has taught as a visitor at California State Polytechnic University, the University of Michigan, the Manchester Business School Worldwide, and Antwerp Management School. Professor Mayer has won numerous awards from the Academy of Legal Studies in Business, including the Hoeber Award for best article in the American Business Law Journal, twice won the Maurer Award for best article on business ethics, and three times won the Ralph Bunch Award for best article on international business law. His work has been published in many journals and law reviews, but most often in American Business Law Journal, the Journal of Business Ethics, and the Business Ethics Quarterly.

Daniel Warner is a magna cum laude graduate of the University of Washington, where-- following military service--he also attended law school. After some years of civil practice, he joined the faculty at the College of Business and Economics at Western Washington University in 1978 where he is now a professor of business legal studies in the Accounting Department. He has published extensively exploring the intersection of popular culture and the law, for which publications he has five times received the College of Business Dean's Research Award for "distinguished contributions in published research." He served eight years on the Whatcom County Council, two years as its Chair. He has served on the Faculty Senate, on various university and college committees including chairman of the University Master Plan Committee; he has been active in state Bar Association committee work and in local politics, where he has served on numerous boards and commissions over 30 years.

George J. Siedel's research addresses legal issues that relate to international business law, negotiation, and dispute resolution. Recent publications focus on proactive law and the use of law to gain competitive advantage. His work in progress includes research on the impact of litigation on large corporations and the use of electronic communication as evidence in litigation. Professor Siedel has been admitted to practice before the United States Supreme Court and in Michigan, Ohio, and Florida. Following graduation from law school, he worked as an attorney in a professional corporation. He has also served on several boards of directors and as Associate Dean of the University of Michigan Business School. The author of numerous books and articles, Professor Siedel has received several research awards, including the Faculty Recognition Award from the University of Michigan and the following awards from the Academy of Legal Studies in Business: the Hoeber Award, the Ralph Bunche Award and the Maurer Award. The Center for International Business Education and Research selected a case written by Professor Siedel for its annual International Case Writing Award. His research has been cited by appellate courts in the United States and abroad, including the High Court of Australia. Professor Siedel has served as Visiting Professor of Business Law at Stanford University, Visiting Professor of Business Administration at Harvard University, and Parsons Fellow at the University of Sydney. He has been elected a Visiting Fellow at Cambridge University's Wolfson College and a Life Fellow of the Michigan State Bar Foundation. As a Fulbright Scholar, Professor Siedel held a Distinguished Chair in the Humanities and Social Sciences.

Jethro K. Lieberman is professor of law and VP for Academic Publishing at New York Law School, where he has taught for more than a quarter century. He took his B.A. in politics and economics from Yale University, his J.D. from Harvard Law School, and his Ph.D. in political science from Columbia University. He began his teaching career at Fordham University Law School and before that was VP at what is now the CPR International Institute for Conflict Prevention and Resolution. For nearly ten years he was Legal Affairs Editor of Business Week Magazine. He practiced antitrust and trade regulation law at a large Washington law firm and was on active duty as a member of the Navy’s Judge Advocate General’s Corps during the Vietnam era. He is the author of The Litigious Society (Basic Books), winner of the American Bar Association’s top literary prize, the Silver Gavel, and also of A Practical Companion to the Constitution: How the Supreme Court Has Ruled on Issues from Abortion to Zoning (University of California Press), among many other books. He is a long-time letterpress printer and proprietor of The Press at James Pond, a private press, and owner of the historic Kelmscott- Goudy Press, an Albion hand press that was used to print the Kelmscott Press edition of Geoffrey Chaucer’s Canterbury Tales in the 1890s.