Your paper should be on something that interests you, something that advances your understanding of your major and something that is topical/current. Believe me, if it interests you, it will easier to research and a lot more enjoyable for me to read. Advance notice -- I apply the University's Academic Honesty Policy as set forth in the Fogcutter Student Handbook and personally submit all papers to Turnitin.
Given our turbulent economic times there are many business law related topics to research, to mention just a few, the: pending J.P. Morgan $13B settlement surrounding the quality of the mortgage-backed securities it sold before the 2008 financial crisis; SAC's offer to plead guilty to criminal misconduct and pay more than $1 billion in penalties for insider trading; and the continuing Bernie Madoff Ponzi scheme prosecutions.
There are scores more topics. If you find yourself having difficulty finding a topic, pick up several copies of the Wall Street Journal -- it's divided into discrete sections covering: general business news (A section); marketing (B); finance/investment (C); and personal finance (D). On Mondays there are rotating sections on technology, health and other specific topics.
A "business law topic" is purposefully broad to allow you to write on a topic related to your particular major. Ideally, the paper will serve as a foundation for other endeavors undertaken in your area of emphasis.
I expect you to conduct legal research using the library, academic journals and reviews, publications e.g., Wall Street Journal, Barons, Business Week, Harvard Business Review, on-line resources and interviews. No WIKIPEDIA, textbook or Griffis lecture references or citations, I want original verifiable research and cited authorities. WIKIPEDIA is a good place to find source material, but do not cite the site.
Be creative, several years ago one enterprising Legal Scholar knocked on the front door of Roomy Khan's Atherton (San Mateo County) home. Mrs. Khan had just been named a suspect in the Galleon Hedge Fund federal insider trading case against Raj Rajaratnam, Galleon's founder. She later pleaded guilty and was an important witness against Rajaratnam. Our scholar briefly interviewed Ms. Khan regarding her involvement in the fraud -- the interview ceased the moment after Khan called her attorney to inquire if it was proper for her to talk to a BUS 301 Legal Scholar. Rajaratnam was convicted and sentenced to serve 11 years in Butler Federal Prison where Bernie Madoff and his "cellie" Bubba also reside.