- Sandra Day O'Connor College of Law
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This course introduces the student to the law of agency and examines the different forms of the most common business organizations in America today (sole proprietorships, partnerships (including limited partnerships and limited liability partnerships), limited liability companies (LLCs), and corporations. Regardless of an attorney’s specific area of practice, a basic understanding of the organization and management of business enterprises and of the law of agency is routinely needed across a broad and diverse range of legal specializations.
We study the fiduciary relationships between the investors, owners and managers of a business. We study the laws applicable to businesses and the legal standard of conduct expected of companies and their owners and managers.
While we study agency law, partnerships and LLCs, the major focus of the course is on the most popular form of business organization: the corporation, both public and close. We study how corporations are used to raise and manage capital, allocate risk, and divide ownership and management prerogatives. We focus on the responsibilities of boards of directors, the rights of shareholders, the issuance of stock, and corporate governance.
The course analyzes basic business and legal decisions faced by business people. We also examine broader policy questions such as how business needs shape laws and regulations in the United States and, conversely, how laws and regulations promote and impede business.
Readings from the Casebook are supplemented by readings from a book of Supplemental Materials. A Statutory Supplement is also required.
No background in business, accounting, or finance is required.
ATTENDANCE POLICY: Attendance and participation is expected. Points will be given for participation up to the maximum permitted under the law school grading policy. Students will be called upon to participate. Substantial information will be delivered in class lectures that is not in the written course materials.
A minimum of 10 students will be required for the class to be taught.
Credit Hours: 4
Grading Option: Letter Grade Only
Graduation Writing Requirement: No
Flexible Writing Requirement: No
Skills Requirement: No
Final Exam Given: Yes
Final Exam Type: In-Class - Completely Secure
Attendance Policy: Per Statement of Student Policies
Online Course Site: None