Maricopa Community Colleges  LAS207   19946-20074 
Official Course Description: MCCCD Approval: 03/27/07
LAS207 19946-20074 LEC 3 Credit(s) 3 Period(s)
Business Law (General Corporate)
Legal and ethical aspects of agency, partnerships, corporations, bankruptcy, antitrust, securities, and other regulations of business.
Prerequisites: None.
Cross-References: GBS207
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MCCCD Official Course Competencies:
 
LAS207   19946-20074 Business Law (General Corporate)
1. Determine if a principal-agent or master-servant agency relationship or employer-independent contractor relationship exists between parties; ascertain the rights, duties, legal and ethical liabilities and obligations that exist between and among all parties; and describe how these relationships are created and terminated. (I)
2. Define the various conditions under which an employer can terminate an employee and the right, duties, legal liabilities, and ethical obligations that exist between and among all parties to this termination. (I)
3. Determine if a partnership relationship exists between/among individuals/entities and if so, how it is created, operated, and terminated to include the rights, duties, legal and ethical liabilities and obligations of each partner. (I)
4. Compare and contrast a partnership with other business associations. (II)
5. Compare and contrast a corporation with a partnership. (III)
6. Compare and contrast the rights and legal and ethical liabilities and obligations of directors, officers, shareholders and other key position holders in a corporation. (III)
7. Identify and define the regulatory impact of the U.S. Constitution in terms of the economic, legal, and ethical limitations imposed on the field of business. (IV)
8. Compare and contrast the securities regulations imposed on individuals and corporations, including the legal and ethical burdens and benefits created by these regulations. (V)
9. Compare and contrast antitrust and environmental regulations imposed on business in terms of their origin, application, limitations, and legal and ethical benefits and burdens imposed. (VI)
10. Compare and contrast the domestic regulatory environment with the international regulatory environment in terms of sales, antitrust, labor, employment, consumer, and environmental law issues. (VII)
11. Compare and contrast the bankruptcy process for an individual with that for a business organization in terms of origin, application, limitations, and legal and ethical liabilities and obligations imposed on the individuals and entities concerned. (VIII)
12. Compare and contrast personal and real property in terms of origin, application, limitations, and legal and ethical liabilities and obligations imposed on the individuals concerned. (IX)
13. Compare and contrast the rights and legal and ethical liabilities and obligations of the landlord with that of the tenant under both common and statutory law applicable in the state of Arizona. (IX)
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MCCCD Official Course Outline:
 
LAS207   19946-20074 Business Law (General Corporate)
    I. Agency Law
        A. Fundamentals
          1. Types of agents
          2. Independent contractors
        B. Creation
          1. By contract
          2. By law
        C. Authority
        D. 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
        E. Relationship between principal and agent
          1. Agent's duties to principal
          2. Principal's duties to agent
        F. Termination of agency
          1. By acts of parties
          2. By operation of law
        G. Employment relation regulations
        H. Legal and ethical liabilities and obligations
      II. Partnership Law
          A. Fundamentals
            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 partnerships
            2. Joint ventures
            3. Business trusts
            4. Limited liability companies
          E. Legal and ethical liabilities and obligations
        III. Corporations
            A. Fundamentals
              1. History
              2. Creating the corporate veil
              3. Classifications
            B. Corporate organization
              1. The charter
              2. State
              3. Promoter
              4. Stock subscriptions
              5. Filing of articles of incorporation
              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 and ethical obligations of directors and officers
              3. Corporate expansion
            D. Shareholders' rights and liabilities
              1. Rights
              2. Liabilities and ethical obligations
            E. Terminating the corporation
            F. Close corporations
            G. Liabilities and ethical obligations
          IV. Business and the Constitution
              A. The Commerce Clause
              B. The Contract Clause
              C. Other constitutional considerations
            V. Securities regulation
                A. Fundamentals
                B. Securities Act of 1933
                C. Securities Exchange Act of 1934
                D. Foreign Corrupt Practices Act
                E. Liabilities and ethical obligations of accountants and other professionals
                F. State securities statues
              VI. Antitrust and Environment Regulations
                  A. The Sherman Act
                  B. The Clayton Act
                  C. The Robinson-Patman Act
                  D. Federal Trade Commission Act
                  E. State antitrust statues
                  F. Environmental regulations
                    1. Federal
                    2. State and local
                  G. Liabilities and ethical obligations
                VII. Legal, Ethical, and Regulatory Environment for International Business
                    A. Transnational sales
                    B. Antitrust
                    C. Labor, employment, and employment discrimination issues
                    D. Consumer law
                    E. Securities regulations issues
                    F. Environmental issues
                    G. Liabilities and ethical obligations
                  VIII. Bankruptcy
                      A. Background and history
                      B. Alternatives
                      C. The Bankruptcy Reform Act
                      D. Liquidations
                      E. Chapter 13 repayment plan
                      F. Chapter 11 reorganization
                      G. Liabilities and ethical obligations
                    IX. Property
                        A. Personal
                        B. Real
                        C. Fixture
                        D. Bailments
                        E. Landlord and tenant
                        F. Estates and trusts
                        G. Liabilities and ethical obligations
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