Law 230 - Business Associations
Steven A. Bank
J.D. University of Chicago, 1994
This is an introductory course on the law of business associations. We will examine the evolution of the business form from the sole proprietorship and general partnership through the rise of corporations (including both closely-held and public) and finally to the more recent development of hybrid forms such as limited partnerships and limited liability companies. In addition to examining the roles, obligations, duties, rights, and remedies of owners, managers, and other stakeholders in each business form under common law and various statutory schemes (including under the foundational principles of agency law), we will consider the financing and operation of the various entities and briefly introduce and consider the effects of other federal regimes (e.g., securities and taxation) on choice of entity decisions.
At the end of this course students will be able to:
1. provide planning advice on how to structure a business organization or transaction involving a business organization to meet a client's objectives while complying with relevant case law, statutes and regulations;
2. interpret and apply case law, statutes and regulations to determine how a court might resolve a dispute involving a business association, and
3. provide thoughtful advice to policymakers on the pros and cons of particular legislative proposals in the area of business associations