Jun 17, 2019  
2018-2019 Course Catalog 
    
2018-2019 Course Catalog [ARCHIVED CATALOG]

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



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