Read this section. It would be foolish to operate in the business world in any capacity without being familiar with the application of law. The law impacts every area of business, from accounting and finance to management and marketing. As a business professional, you will be particularly interested in private law, since it sets forth legal requirements that allow parties to determine how they want to assign legal rights, duties, and obligations in their business dealings. Be sure to do the exercises at the end of the section.