BUS-307 is Southern New Hampshire University's three-credit second course in business law, taken after BUS-206 Business Law I.
SNHU's catalog says the study begun in Business Law I continues with commercial paper, real and personal property, creditors' rights and bankruptcy, agency, business organizations, estate planning and government regulation of business.
Where BUS-206 introduces the legal system, torts and contracts, BUS-307 moves into topics that affect money, assets and debt. Several are technical, so clear structure and accurate vocabulary matter more than ever.
Course at a Glance
| Item | Details |
|---|---|
| University | Southern New Hampshire University (SNHU) |
| Course code | BUS-307 |
| Credits | 3 |
| Prerequisite | BUS-206 Business Law I |
| Level | Undergraduate |
| Typical work | Case analyses, legal memos, discussions |
What BUS-307 Covers
| Topic | Core question |
|---|---|
| Commercial paper | How checks and promissory notes transfer value, and who can enforce them |
| Real and personal property | Ownership and transfer of land, buildings and movable goods |
| Creditors' rights and bankruptcy | How creditors secure and recover debts, and what happens when a debtor cannot pay |
| Agency | When agents bind principals and what duties they owe |
| Business organizations | Rights and duties within partnerships, LLCs and corporations |
| Estate planning | Wills, trusts and passing on property, including business interests |
| Government regulation | How agencies regulate business conduct |
Key Concepts Explained
Secured and Unsecured Creditors
A secured creditor holds an interest in specific property (collateral) and can usually look to that property if the debt is not paid. Unsecured creditors have only a general claim. In bankruptcy, this difference largely decides who recovers what.
Example: A bakery borrows from a bank to buy an oven, and the bank takes a security interest in the oven. A flour supplier is owed money on open account with no security. If the bakery fails, the bank's claim is tied to the oven; the supplier joins the general unsecured creditors.
Chapter 7 and Chapter 11 Bankruptcy
Under the US Bankruptcy Code, Chapter 7 generally involves liquidation: assets are sold and proceeds distributed. Chapter 11 is generally used for reorganization, allowing a business to keep operating under a court-approved plan.
Example: A struggling restaurant group with profitable locations might seek Chapter 11 to renegotiate leases and debts while staying open. A small shop with no realistic future might file under Chapter 7. Explaining why one fits better is a typical question.
Real Versus Personal Property
Real property is land and things permanently attached to it; personal property is everything else. Fixtures sit between the two, and disputes often turn on whether an item has become part of the building.
Typical Assignments and How to Approach Them
| Type of task | What it tests | How to approach it |
|---|---|---|
| Bankruptcy or debt scenario | Creditors' rights | Identify each creditor's status, then the likely outcome |
| Property case | Ownership and transfer rules | Classify the property first, then apply the rule |
| Regulation analysis | Agency power and compliance | Name the agency and rule, explain the business impact |
| Legal memo | Clear advice to a manager | Answer, rule, reasoning, practical steps |
Government Regulation of Business
Regulation closes the course's topic list and connects to many others. Federal agencies make and enforce rules in their areas, and businesses must comply whatever their contracts say.
| Agency | Main area |
|---|---|
| Federal Trade Commission (FTC) | Consumer protection and competition |
| Securities and Exchange Commission (SEC) | Securities markets and company disclosure |
| Environmental Protection Agency (EPA) | Environmental rules |
| Occupational Safety and Health Administration (OSHA) | Workplace safety |
A regulation question usually asks which agency is involved, what the rule requires, and what the business should do. Estate planning questions, by contrast, often concern how a small business owner passes on the business through a will or trust, and why planning ahead avoids disputes.
Where Students Get Stuck
- Technical vocabulary. Terms like holder in due course, lien and fixture need precise use.
- Classification first. Many answers go wrong by misclassifying property or a creditor.
- Federal versus state law. Bankruptcy is federal; property and estates are largely state law.
- Missing the business angle. End with what the business should do.
Study Tips for BUS-307
- Review your BUS-206 notes on contracts and agency before starting.
- Build a glossary for each topic, with a one-line business example per term.
- Use IRAC on every scenario, even short discussion questions.
- Draw a simple diagram of who gets paid first in a bankruptcy scenario.
How We Help with BUS-307
Send the assignment, rubric and readings. A business law writer can prepare a model case analysis or memo, explain technical rules in plain language, or edit your draft. Our law assignment help guide covers our wider legal writing support.
GradeEssays is independent of Southern New Hampshire University, and our work is not legal advice. Use models to learn, then submit your own work under SNHU's academic integrity policy. Every order is written from scratch and refunded in full if late.
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Frequently Asked Questions
SNHU lists BUS-206 Business Law I as the prerequisite.
SNHU's catalog lists BUS-307 at 3 credits.
Commercial paper, real and personal property, creditors' rights and bankruptcy, agency, business organizations, estate planning and government regulation of business.
Chapter 7 generally liquidates assets; Chapter 11 generally lets a business reorganize and keep operating under a plan.
Secured creditors can look to specific collateral, which usually puts them ahead of unsecured creditors in recovering what they are owed.
No. We offer tutoring, models and editing so you can write your own work.