Business Associations, Agency, Partnerships and Corporations
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Business Associations law books, corporation law, study aids, Business outlines, Business Association law exams, agency, partnership and LLC's
For Business Associations study aid I recommend the Agency, Partnership and LLC'c Examples and Explanations. There is a list of outlines below that you can go over but you really need to develop your own outline. Use these only as a guide and to be sure you have not missed anything. The Business Associations essay is where you need to pick out and discuss the issues. Your professor has a grading sheet and has assigned a value to each issue. The key is to recognize and then discuss each issue in the short amount of time allotted. The best way is to go over old Business Associations and Corporations exams and do a timed practice.
The Business Law course offers a comprehensive survey of the law of business associations from sole entrepreneur through partnership and corporate formation. It includes a broad examination of merger, acquisition, director's liability and other corporate and business law topics. Principal emphasis is on the law as it applies to the organization and functioning of corporations. Shareholder agreements, classes of shares, rights of first refusal, methods of financing, and voting trusts are also incorporated.
The Law of Agency
There are four ways to create an agency relationship:
- Contract: The principal and agent expressly agree that the agent will act on the principal’s behalf;
- Ratification: The agent acts without the principal’s consent, but the principal accepts the agent’s acts;
- Estoppel: The agent and principal have no agreement, but the third party reasonably believes they do, and it would be unjust not to let the third party rely on that belief (especially if the principal or agent knew the third party believed agency existed, but didn’t try to correct him);
- Necessity: The agent and principal have no agreement, but the agent has to act to prevent an injury to people or property.
The Law of Partnerships
A partnership is a for-profit business association of two or more
persons. Because the business component is defined broadly by state laws
and because "persons" can include individuals, groups of individuals,
companies, and corporations, partnerships are highly adaptable in form
and vary in complexity. Each partner shares directly in the
organization's profits and shares control of the business operation. The
consequence of this profit sharing is that partners are jointly and
independently liable for the partnership's debts. LLI
Recent Supreme Court Cases on Partnerships
The Law of Corporations
A corporation is a legal entity created through the laws of its state of
incorporation. Individual states have the power to promulgate laws
relating to the creation, organization and dissolution of corporations.
Many states follow the Model Business Corporation Act. State corporation laws require articles of incorporation to document
the corporation's creation and to provide provisions regarding the
management of internal affairs. Most state corporation statutes also
operate under the assumption that each corporation will adopt bylaws to
define the rights and obligations of officers, persons and groups within
its structure. States also have registration laws requiring
corporations that incorporate in other states to request permission to
do in-state business. LLI
Business Associations Outlines
Business Association Outline Law School 2004 California
Business Law and Corporations Exams and Model Answers
Corporations Exams and Model Answers
Multiple Choice Business Law Exam
University of Chicago Law School Exams
Business Law Websites
Powerpoint on Agency
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