Entity_Outline_v8

Entity_Outline_v8 - BUSINESS ASSOCIATIONS OUTLINE Business Associations Table of Contents I Overview of Business Associations 5 A Are Corporate

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Unformatted text preview: BUSINESS ASSOCIATIONS OUTLINE Business Associations Table of Contents I. Overview of Business Associations ......................................................................................... 5 A. Are Corporate Lawyers Necessary? ....................................................................................... 5 B. The Transaction Cost Trade-Off ............................................................................................. 5 C. Structuring a Business Association ........................................................................................ 6 D. Summary: Introduction to Business Associations .................................................................. 7 II. AGENCY – THE BUILDING BLOCK OF FIRMS ....................................................................... 8 I. Who is an Agent? ....................................................................................................................... 8 II. Liability of Principal to Third Parties in Contract ................................................................... 9 B. AUTHORITY .......................................................................................................................... 9 C. Apparent Authority ................................................................................................................. 9 D. Inherent Authority ................................................................................................................. 10 E. Authority Summary ............................................................................................................... 13 F. Ratification ............................................................................................................................ 14 G. Estoppel ............................................................................................................................... 15 H. Agent’s Liability on Contract ................................................................................................. 16 I. Summary – Agency Relationship/Liability of Principal in Contracts ....................................... 16 III. Liability of Principal to Third Parties in Tort ........................................................................ 17 J. What is the Justification for Imposing Liability? ..................................................................... 17 K. Servant Versus Independent Contractor .............................................................................. 18 L. Tort Liability and Apparent Agency ....................................................................................... 19 M. Scope of Employment .......................................................................................................... 20 N. Statutory Claims ................................................................................................................... 22 O. Liability for Torts of Independent Contractors O....
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This note was uploaded on 10/01/2008 for the course PRMD 101 taught by Professor Deangelis during the Spring '08 term at Seton Hall.

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Entity_Outline_v8 - BUSINESS ASSOCIATIONS OUTLINE Business Associations Table of Contents I Overview of Business Associations 5 A Are Corporate

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