In a nutshell, for a hospital manager it is compulsory to have the sound knowledge of Operations Management, Financial Management, Information Management, Human Resources Management, Time Management and Communication. Prepared by Dr. Mohammad Bashaar MD, MBA. Hospital Management By Dr. Mohammad Bashaar.
Governing Laws. Contracts are mainly governed by state statutory and common (judge-made) law and private law (i.e. the private agreement). Private law principally includes the terms of the agreement between the parties who are exchanging promises. This private law may override many of the rules otherwise established by state law. Statutory law, such as the Statute of Fraud, may require some kinds of contracts be put in writing and executed with particular formalities, for the contract to be enforceable. Otherwise, the parties may enter into a binding agreement without signing a formal written document.
There are two sources of contract law: common law, which is based on case rulings, and statutory law, which is based on federal and state statutes. Contract law uses both common law and a set of statutory rules known as the Uniform Commercial Code. Unlike common law, the Uniform Commercial Code deals specifically with commercial contracts. It is actually a set of laws that governs transactions between states and in business transactions. It was designed to create a uniform set of standards that regulate fairness in commercial transactions.