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Understanding Business Law

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Understanding Business Law
Commercial law, also known as business law, is the body of law that applies to the rights, relations, and conduct of persons and businesses engaged in commerce, merchandising, trade, and sales. It is often considered to be a branch of civil law and deals with issues of both private law and public law. Business law is very important when starting a business. It will help you operate your business without the hindrances of ignorance. Business law will help you prepare for issues pertaining to Zoning Laws, Licensing Laws, Tax Laws, Trademark and Patent Laws. Once you got your business running, you will need to know how to protect your business from things like lawsuits, creditors, the IRS and other government agencies. …show more content…

“Fiscal Law is extremely important to our profession and not following it can have a detrimental effect on our careers. Not to mention the fiscal uncertainty that it can cause the federal government”. (George, 2016)
Do you receive additional training to prepare yourself for issues related to business law? “Yes, I was trained for a week at the ARMY JAG School on Fiscal Law and Federal Appropriations Law. We are also required to take refresher training every 2-3 years”. (George, 2016)
Other than Business law, do you also have to deal with Military law or Army regulations being that you work on a Military base? “Yes, Army Regulation 37–104–4. This regulation covers Military Pay and Allowances Policy. This regulation covers the section of my division that deals with issues on Military allotments, BAH etc.… We cannot deviate from this regulation non what so ever”. (George, 2016)

Thoughts and findings of the …show more content…

When dealing with Military allotments, Soldiers will go out and purchase lavish and expensive items such as cars, furniture, computers and gaming systems with ridiculous interest rates. The soldiers were allowed to walk into businesses and purchase items with no money down and take it home the same day. With no cap on how many allotments a Soldier can have, he or she will miscalculate their monthly spending and at the end of the month have no money left for necessities. The Soldiers then cancel the allotments in turn failing to fulfill and obligation to pay for their goods. Once the Soldier stop making payments, companies will then file for an involuntary allotment to get their money. “It is Department of Defense (DoD) policy that military members pay their just financial obligations in a proper and timely manner. Creditors who have been awarded a civil judgment against a military member may seek enforcement of the judgment by applying for an involuntary allotment from the member's military pay”. (Collecting a Debt, 2014) Mrs. George also stated that so many Soldiers were getting suits filed against them that the Army started to investigate the companies and found that the companies were targeting and taking advantage of Soldiers and their families. On 1 June 2015, Defense Secretary Chuck Hagel changed the policy pertaining to military allotments. The new policy prohibits service

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