Business Entities

Catalog description

This course begins with a study of agency law and then examines the most common business entities: the partnership, the limited liability partnership (LLP), the limited liability company (LLC), and the corporation. The course includes an examination of the formation, operation, and termination of the agency relationship and each of the basic business entities. The liability of the principal, agent, and third party are studied in the context of the agency relationship as well as in the context of each different business entity. Comparative analysis is conducted, including a study of the relative advantages and disadvantages of the different business entities. A substantial portion of the course is devoted to the corporate entity, including public, private, and close corporations.