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Introductory Business Law

Introductory Business Law
Learn about the functions of contracts, history, sources, systems...

4 weeks / 6 hours per week

About This Course

This course covers all of the substantive material that is usually taught in an introductory one-semester college course on Business Law. Our goal is to prepare you to pass the College Board's CLEP examination and obtain college credit for free.

The CLEP examination places a major emphasis on understanding the functions of contracts in American business law. It also includes questions on the history and sources of American law, legal systems and procedures, agency, employment and sales.

“Introductory Business Law” is a completely self-paced course. It has no prerequisites and it is offered entirely for free.

Course Staff


What are the requirements and schedule of the course?

This course is organized into seven topical chapters or modules that contain short video lessons, exercises and readings. It will take you less than 25 hours to prepare for the exam.

All of the course material has been released at once so you can complete it anytime.

What do I need to pass the CLEP exam?

You need to demonstrate an understanding of the functions of contracts and other legal concepts in American business law. The exam contains approximately 100 questions to be answered in 90 minutes. Please examine our syllabus.

How does this course differ from other CLEP textbooks and traditional courses?

This online course includes a carefully structured series of video lectures and exercises taught by a top quality university professor.




How CLEP Works   

1. History and Sources of American Law

1.1 Background on Formal Legal Systems   

1.2 Sources of U.S. Law   

1.3 U.S. Bill of Rights   

Supplementary Reading

2. American Legal Systems and Procedures

2.1 Criminal Law and Civil Law   

2.2 The Court Systems   

2.3 Court Functions and Procedures   

2.4 Jurisdiction   

Supplementary Reading

3. Contracts

3.1 Meanings of Contract Law Terms   

3.2 Formation of Contracts   

3.3 Legal Incapacity to Enter Contracts   

3.4 Third-Party Beneficiary Contracts   

3.5 Assignment and Delegation of Contract Rights and Duties   

3.6 Statute of Frauds   

3.7 Interpreting Contractual Terms   

3.8 Breach of Contract and Remedies   

3.9 Affirmative Defenses to Breach   

3.10 Discharge of Contracts   

3.11 Illegal Contracts and Public Policy Concerns   

Supplementary Reading

4. Legal Environment

4.1 Ethics   

4.2 Social Responsibility of Corporations   

4.3 Government Regulation and Administrative Agencies   

4.4 Environmental Law   

4.5 Securities and Antitrust Law   

4.6 Employment and Labor Law   

4.7 Creditors' Rights   

4.8 Product Liability   

4.9 Consumer Protection   

4.10 International Business Law   

Supplementary Reading

5. Torts

5.1 Meanings of Terms   

5.2. Intentional Torts   

5.3 Negligence   

5.4 Strict Liability   

5.5 Harms to Regulation or Economic Interests   

5.6 Vicarious Liability   

Supplementary Reading

6. Agency, Partnerships and Corporations

6.1 Agency   

6.2 Partnerships   

6.3 Corporations   

Supplementary Reading

7. Sales

7.1 Meaning of Terms   

7.2 Formation of UCC Contracts   

7.3 Warranties   

7.4 Remedies   

Supplementary Reading

Sample CLEP Questions

Questions 1 - 15

Questions 16 - 28

Final Steps

Prof. Berman's Recommendation   

Exam Time   

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