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Mar 28, 2024
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PRL 142 - Business & Corporate Law II Credits: 3 Lecture Hours: 3 Lab Hours: 0 Practicum Hours: 0 Work Experience: 0 Course Type: Open Continuation of Business & Corporate Law I. Survey of rights of debtors and creditors in collections and bankruptcy. Formation of proprietorships, partnerships and corporations, and a survey of the law applicable to each. Preparation of documents necessary to the organization and operation of each. Prerequisite: PRL 141 Competencies
- Define holder in due course
- Describe a security interest
- Explain perfection of security interest
- Define perfection
- Select appropriate method of perfection
- Define Bankruptcy
- List types of bankruptcy
- Define liquidation bankruptcy
- Define reorganization of debt bankruptcy
- Identify business organizations
- Explain a sole proprietorship
- Define sole proprietorship
- Outline effect of liability
- Compare general and limited partnerships
- Define general partnership
- Define limited partnership
- Explain liability effects on both
- Describe an agency relationship
- Explain the structure of a corporation
- Define corporation
- Distinguish between officers and directors
- Define shareholder
- Outline statutory requirements
- Prepare articles of incorporation
- Review necessary information
- Express stock ownership status
- Label incorporators
- Demonstrate correct format
- Discuss types of stock
- Define par value
- Define voting shares
- Define preferred stock
- Evaluate corporate liability
- Define corporate shield
- Explain piercing corporate veil
- Discuss liability of shareholders
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