Standard 1: Understands how the legal system affects business

Benchmarks (Grades 9-12)
Understands the similarities and differences between common law, statutory law, procedural law, substantive law, and agency regulations
Knows common sources of law
Understands the process courts uses to make law, and the importance of precedent in the legal system
Understands the jurisdiction and function of state courts, federal courts, appellate courts, and the Supreme Court
Understands the advantages and disadvantages of various methods for resolving disputes, such as litigation, arbitration, mediation, and conciliation
Knows different kinds of business crimes (e.g., arson, forgery, fraud, embezzlement)