Maricopa Community Colleges  LAS207   19926-19945 
Official Course Description: MCCCD Approval: 03/24/92
LAS207 19926-19945 LEC 3 Credit(s) 3 Period(s)
Business Law (General Corporate)
Examination of the Laws of Agency, Partnerships, and Corporations. Also includes laws that regulate business, bankruptcy, and property. Prerequisites: None.
Cross-References: GBS207
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MCCCD Official Course Competencies:
 
LAS207   19926-19945 Business Law (General Corporate)
1. Determine if an agency relationship exists between parties and if so, the type of agency, the relationship and liabilities that exist between and among all parties, and how this agency relationship can be terminated. (I)
2. Explain the various circumstances and corresponding regulations under which an employer can terminate an employee and the subsequent liabilities incurred by each party. (I)
3. Determine if a partnership relationship exists between or among individuals and if so, how this partnership was created, how it operates, what liabilities are incurred by all parties to each other and to outsiders, and how this partnership can be terminated. (II)
4. Compare and contrast a partnership with other unincorporated associations. (II)
5. Compare and contrast a corporation with a partnership in terms of how each is created, how each operates, what liabilities are incurred by all parties to each other and to outsiders, and how each can be terminated. (III)
6. Compare and contrast the rights and liabilities of Directors, Officers, Shareholders, and other key positions in a corporation. (III)
7. Explain the regulatory impact of the U.S. Constitution on the field of business in terms of the source of these regulations. (IV)
8. Compare and contrast the various securities regulations imposed on individuals, corporations and others. (V)
9. Describe the burdens and benefits imposed by key securities regulations on various interest groups at both the state and federal level. (V)
10. Compare and contrast the Anti-trust and Environmental regulations imposed on the field of business. (VI)
11. Compare and contrast the domestic regulatory environment with the international regulatory environment. (VII)
12. Compare and contrast the bankruptcy process of an individual with that of a business organization. (VIII)
13. Compare and contrast personal and real property in terms of origin, application, and limitations. (IX)
14. Compare and contrast the rights and liabilities of a landlord with that of the tenant under both common and statutory laws applicable in the state of Arizona. (IX)
15. Describe the process of estate planning in terms of wills, estates, and trusts. (IX)
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MCCCD Official Course Outline:
 
LAS207   19926-19945 Business Law (General Corporate)
    I. Agency law
        A. Introduction
          1. Types of agents
          2. Independent contractors
          3. Creation
            a. By contract
            b. By law
        B. Authority
        C. Relationship between principal and agents to third parties
          1. Contract liability of principal
          2. Tort liability of principal
          3. Criminal liability of principal
          4. Tort and contract liability of agent
        D. Relationship between principal and agent
          1. Agent's duties to principal
          2. Principal's duties to agent
        E. Termination of agency
          1. By acts of parties
          2. By operation of law
        F. Employment relation regulations
      II. Partnership law
          A. Introduction
            1. Importance and history
            2. Formation
            3. Tests of partnership existence
            4. Partnership by estoppel
          B. Operation
            1. Relationship among partners
            2. Partnership and third parties
          C. Dissolution and winding up
          D. Other unincorporated associations
            1. Limited partnership
            2. Joint ventures
            3. Business trusts
        III. Corporations
            A. Introduction
              1. History
              2. The corporate veil
              3. Classifications
            B. Corporate organization
              1. The Charter
              2. State
              3. Promotor
              4. Stock subscriptions
              5. Filing of Articles
              6. Organizational meeting of Directors
              7. Types of stock
              8. Consideration for stock
              9. Dividends
            C. Operating the corporation
              1. Duties and power of Directors and Officers
              2. Liabilities of Directors and Officers
              3. Corporate expansion
            D. Shareholder's rights and liabilities
              1. Rights of shareholders
              2. Liabilities of shareholders
            E. Terminating the corporation's business
            F. Close corporations
          IV. Business and the constitution
              A. The Commerce Clause
              B. The Contract Clause
              C. Other constitutional considerations
            V. Securities regulation
                A. Introduction
                B. Securities Act of 1933
                C. Securities Exchange Act of 1934
                D. Foreign Corrupt Practices Act
                E. Legal liability of accountants and other professionals
                F. State securities statutes
              VI. Antitrust and environmental regulations
                  A. The Sherman Act
                  B. The Clayton Act
                  C. The Robinson-Patman Act
                  D. Federal Trade Commission Act
                  E. Environmental regulation
                VII. Legal regulatory environment for international business
                  VIII. Bankruptcy
                      A. Background and history
                      B. Alternatives
                      C. The Bankruptcy Reform Act
                      D. Liquidations
                      E. Chapter 13 Repayment Plan
                      F. Chapter 11 Reorganization
                    IX. Property
                        A. Personal
                        B. Real
                        C. Fixture
                        D. Bailments
                        E. Landlord and tenant
                        F. Estates and trusts
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