LAW 320 - Business Associations

An introductory examination of the law applicable to contemporary forms of business enterprise: the general partnership, the limited partnership, the limited liability partnership (LLP), the limited liability company (LLC), and the corporation. The course begins with an introduction to the principles of agency, which govern all these forms of enterprise. The course then explores the process of organization, formation and capitalization, limits on investors personal liability, and the role of fiduciary duties in different business contexts. We will then examine how these duties are enforced under state (and some federal) law. This course is a general introduction to the field. Students who take Business Associations may not take Alternative Business Entities, or Corporations, or Small Business Entities.