1.Choose and name one area of law, or a specific law, that we studied this term that you believe is essential and important to business. For example, you could choose a broad category, such ascriminal law, contract law, tort law, etc. Or, you could drill down even more specifically and choose a specific statute within an area of law, such as criminal embezzlement, or civil negligence.

2.Next, define your law by using the formal definition we learned in class.

3.Lastly, explain in detail why you believe it is essential to a properly functioning business society.