After passed exam, student will be able to: describe and explain the social system, the legal system and state legal system; connects and distinguishes legal norms, legal acts, legal institutes and branches of law; describes and explains the basic institutions of the obligation and economic rights; describes and explains the basic institutions of property law; explains and compares the basic forms of business organization; different securities of other written documents and points to their importance in business relations; independently compiled and different basic obligation law contracts.