The Place of Law in the Study of Business

Abstract

The study of commerce or business has always included some examination of laws which govern its operation. The earliest English writers1 on education for a career in commerce gave law an important place in their recommended studies, and it has become traditional to sing the praises of law as a subject of study for the future man of affairs2. As will be seen later in this essay, recent academic writing in America has cast doubt upon the present law courses3 and tradition is no longer enough to justify the retention of law in the syllabuses of business schools and commerce faculties. The purpose of this study is to find why law should be studied by those who do not intend to practise it; in particular whether it is a useful and proper study for those who seek in. a university an education which will specially fit them for a working life in business.