Studies fundamental principles of agency law and the formation of business organizations. Includes sole proprietorships, partnerships, corporations, limited liability companies, and other business entities. Reviews preparation of the documents necessary for the organization and operation of businesses. Lecture 3 hours per week.

This course is designed to familiarize the student with the law governing the formation and operation of various types of business entities, and to prepare the student to assist a lawyer in all steps of formation and operation.

ENTRY LEVEL COMPETENCIES: Although there are no prerequisites for this course, proficiency (at the high school level) in spoken and written English is recommended for its successful completion.

Upon completion of this course, the students should be able to:

1. recognize the various types of business organizations
2. understand the basic principles of substantive law which govern the formation and operation of each type of business organization
3. recognize and use the documents commonly used to form business organizations
4. understand the relative advantages and disadvantages of each type of business organization in terms of organizational and operational costs, tax consequences, asset and income distribution, and liability
5. assist a lawyer in forming and advising business organizations

Your course grade will be determined by 1 introductory letter, 3 exams, 7 discussions, and 3 written assignments, according to the following points:

Please note that you must also pass at least 2 of the 3 exams in order to pass the course, regardless of your scores on the other assignments.

There are 3 exams in this course.

I am here to help you succeed in this course. Occasionally questions or problems may arise. Here is how to contact me when they do:

E-mail : ehaynes@nvcc.edu

Last Updated: August 13, 2010