Jun 17, 2019
BUS 186 - Business Law II Credits: 3
Lecture Hours: 3
Lab Hours: 0
Practicum Hours: 0
Work Experience: 0
Course Type: General
Provides for overview of negotiable instruments, debtor/creditor law (collecting judgments), secured transactions, agency relationships, and selecting the right business formation.
Prerequisite: BUS 185
- Explain the functions of negotiable instruments
- Outline the advantages of a limited liability company compared to a sole proprietroship and/or partnership.
- List the steps to form/terminate a limited liability company.
- Identify the two options for managing limited liability companies.
- Contrast the difference between blank, special, qualified, and restrictive endorsements.
- Identify the requirements for holder-in-due course status
- Summarize the bank-customer relationship.
- Discuss when the bank has a duty to honor or may properly dishonor a check presented for payment
- Identify the various types of checks, cashier’s checks, certified checks, and traveler’s checks.
- Identify the advantages and disadvantages of the Electronic Fund Transfer System.
- Contrast the laws that apply to e-money transactions and online banking services.
- Assess the scope of Article 9 of the UCC.
- Discuss the methods of creating a valid security interest and the requirements of attachment.
- Identify the various methods of perfecting a secured interest.
- Interpret the priority rules which govern the rights of secured creditors to the collateral.
- Summarize the rights and duties of both the debtor and the creditor in connection with a default.
- Explain the laws which assist creditors to collect debts.
- Compare the various types of statutory liens.
- Identify the steps in collecting a debt including prejudgment and post judgement attachment and garnishment.
- Compare suretyship and guaranty relationships.
- Compare and contrast various bankruptcy types: liquidation vs. reorganizations.
- Analyze the types of bankruptcies.
- Describe the automatic stay.
- Demonstrate an understanding of the concept of substantial abuse.
- Discuss how property of an estate will be distributed.
- Outline exceptions and objections to a discharge.
- Appraise the entrepreneur’s options.
- Assess the advantages and disadvantages of a sole proprietorship.
- Compare other organizational forms.
- Contrast the rights and duties of an agent.
- Differentiate between the various types of agencies.
- Express how an agency relationship may be formed and terminated.
- Identify the rights and duties of principal and agent relative to each other and to third parties.
- Examine general partnerships.
- Define partnership characteristics.
- Outline how partnerships are formed and terminated.
- Classify the rights, duties, and powers of partners.
- Determine the advantages of limited liability partnerships.
- Assess the key differences between the rights and liabilities of general partners and limited partners.
- Compare limited partnerships and limited liability partnerships.
- Define limited liability partnership characteristics.
- Define limited partnership characteristics.
- Identify the rights and duties of a limited partner.
- Investigate limited liability companies.
- Define a corporation.
- Classify the various types of corporations.
- Outline how corporations are formed and terminated.
- Compare the rights and liabilities of the shareholders to the rights and liabilities of the directors and officers.
- Differentiate between stocks and bonds.
- Discriminate between mergers, consolidations, purchases of assets, and purchases of controlling interests in another corporation.
- Investigate the purposes and regulations of the Securities Act of 1933 and the Securities and Exchange Act of 1934.
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