Business Associations I (BAI) is intended to provide a strong foundation in the principles of agency, so that students will understand why forms of business organizations differ from one another and how they are intended to operate. The course explains how a party may become liable for the acts of another in the context of both contracts and torts and demonstrates how these principles carry over to, and serve as a basis for, many aspects of the law of business organizations. Besides explaining the importance of agency with regard to business transactions in general, the course examines agency principles in the context of general partnerships, limited partnerships, and limited liability companies. In its examination of these forms of entities, the course also addresses issues such as the liability of business owners for company obligations, principles of governance, fiduciary duties, transfers of interests, withdrawal, and choice of entity issues. Students need not have completed the course in income tax to enroll in this course. BAI is not open to students who have completed the three- or four-credit Business Associations course. This course is a prerequisite for Business Associations II – Corporations.
Current & Previous Instructors:
|This course is not currently scheduled.|
Last offered Fall 2004.