LEGL 2773 - Business Organizations

Description
Covers the formation, operation, and dissolution of various business organizations. Subjects include sole proprietorships, partnerships, corporations, limited liability companies, the law of agency, and employment agreements.

Pre-Requisite
Completion of LEGL 1043 with a grade greater than or equal to C.

3 Credit Hour(s)

Contact Hours
45 lecture hours

3 Faculty Load Hour(s)

Semesters Offered
Spring

ACTS Equivalent
N/A

Grade Mode
A-F

Learning Outcomes

Understand the impact the legal system has on business organizations and evaluate factual situations with regard to business formation and government regulation of business.
Understand the basic principles of business formation and identify the fundamental differences and characteristics of the various business organizations.
Identify and evaluate the application of law regarding an invalidly formed corporation or LLC, including the potential liability of incorporators, corporate officers, shareholders, members, and managers.
Understand and apply the basic principles of agency law in the area of business organization relationships with application to factual situations.
Identify and evaluate the basic tax implications impacting the choice of a business organization.
Understand the role of the paralegal in assisting the attorney in the preparation of legal documents for business organizations.
Understand how other areas of the law impact business organizations, such as employment law, property law, and tort law. 8. Draft the initial documentation to form a general partnership agreement, limited partnership agreement, limited liability company, and the articles of incorporation.