ICCSSL Business Law study guide
ICCSSL Business Law · Work through your exam, one topic at a time.
ICCSSL Business Law is a subject examination in the legal framework that governs commercial activity - how agreements are formed and enforced, how businesses are organized and governed, and how transactions, employment relationships, and intellectual property are structured and regulated. It is aimed at candidates who need working fluency in business law rather than the depth of a bar admission course: commercial and contracts professionals, compliance and risk staff, paralegals and legal operations specialists, managers who negotiate and sign on behalf of an organization, and students building a business-law foundation. The ICCSSL Business Law study guide has 11 sections and about 2,875 words.
01Contract Formation, Terms, and Defenses
Contract Formation, Terms, and Defenses tests whether a candidate can spot an enforceable agreement, interpret its terms, and select defenses that excuse performance. Common law requires offer, acceptance, consideration, capacity, and legality.
310 words, about 2 min02Business Organizations and Corporate Governance
Business Organizations and Corporate Governance tests entity choice, authority, fiduciary duties, and liability shields. General partnership: default joint and several liability; RUPA default rules; limited partners are passive investors.
265 words, about 1 min03Sales of Goods and Commercial Transactions
Sales of Goods and Commercial Transactions tests UCC Article 2 scope, performance, risk of loss, warranties, and remedies. Article 2 applies to transactions in goods; contracts for services, real estate, and intangibles fall outside, though mixed contracts use the predominant purpose.
270 words, about 1 min04Agency, Employment, and Labor Relations
Agency, Employment, and Labor Relations tests authority, liability, employment classification, and statutory workplace rights. Agency arises from assent, benefit, and control.
257 words, about 1 min05Torts, Product Liability, and Consumer Protection
Torts, Product Liability, and Consumer Protection tests negligence, strict liability for defective products, and consumer statutes. Negligence: duty, breach, causation (actual and proximate), damages.
261 words, about 1 min06Negotiable Instruments and Secured Transactions
Negotiable Instruments and Secured Transactions tests Article 3 negotiability and holder-in-due-course status, plus Article 9 attachment, perfection, and priority. Negotiable instrument: signed writing, unconditional promise or order to pay a fixed sum, payable on demand or at a definite time, to order or bearer, with no unauthorized additional undertaking.
299 words, about 1 min07Regulatory Compliance and Antitrust
Regulatory Compliance and Antitrust tests the Sherman, Clayton, and FTC Acts, plus compliance program fundamentals. Sherman §1: contract, combination, or conspiracy in restraint of trade.
250 words, about 1 min08Intellectual Property and Technology Licensing
Intellectual Property and Technology Licensing tests IP categories, ownership, and license drafting. Patent: novel, nonobvious, useful, enabled; 20 years from filing.
234 words, about 1 min09Bankruptcy, Insolvency, and Creditors' Rights
Bankruptcy, Insolvency, and Creditors' Rights tests the automatic stay, claims priority, avoidance actions, and reorganization. Chapter 7: liquidation; exempt property; discharge of most debts.
254 words, about 1 min10Ethics and Professional Responsibility
Ethics and Professional Responsibility tests lawyer duties and corporate compliance boundaries. Competence, diligence, communication, confidentiality, and reasonable fees.
224 words, about 1 min11International Trade and Cross-Border Transactions
International Trade and Cross-Border Transactions tests Incoterms, CISG, payment, export controls, and sanctions. Incoterms 2020 allocate cost, risk, and delivery: EXW, FCA, FOB, CIF, DAP, DDP.
251 words, about 1 min