LOMA | Evaluated Learning Experience
Business Law for Financial Services Professionals (LOMA 311)
July 2004 - Present.
Upon successful completion of the course, students will be able to: describe the basic features of the legal environment in which financial services companies operate; identify the three primary types of business organizations and describe how corporations are organized and managed; explain how businesses are regulated by antitrust laws, consumer protection laws, electronic commerce laws, and employment laws; describe the general rules of contract law, agency law, and property law; explain the legal rules that govern contracts for the sale of goods, negotiable instruments, credit and secured transactions, and bankruptcy; describe how financial services companies are regulated; identify and explain the legal issues that arise in the sale and ownership of financial services products; identify and explain the legal issues that arise in the sale and ownership of financial services products; explain how insurance contracts are performed and recognize situations in which insurers have the right to avoid paying a claim for insurance policy proceeds; and describe the regulatory requirements that govern group life insurance contracts and group retirement plans.
This course presents the basic features and principles of the legal environment in which financial services companies operate. The first part describes general principles of business law, and the second part describes the special types of legal issues that affect financial services companies. Major topicsinclude: legal environment of business; civil disputes; regulation of business; contract law; agency law; property law; commercial transactions; regulation of financial services companies; sale of financial services products; ownership of financial products; rights of third parties; contests and remedies; contract performance; and group products.
In the upper division baccalaureate degree category, 3 semester hours as an elective in Business Law, Legal Studies, Financial Services or Insurance (12/04) (3/10 revalidation) (11/17 revalidation) (5/23 revalidation). NOTE: This course overlaps in content with Business Law for Financial Services Professionals - Canada (LOMA 316), Legal Aspects of Life and Health Insurance - U.S. (LOMA 310) and Legal Aspects of Life and Health Insurance - Canada (LOMA 315). Credit is recommended for the completion of only one course.