Lecture 1 (WK4)
The Core Learning Outcomes addressed this week are:
Demonstrate the ability to brief a case.
Describe the relationship between an agent and a principal.
Describe the legal construction of sole proprietorships, corporations, and partnerships.
Describe the rights and liabilities of shareholders.
Discuss the most common forms of bankruptcy.
Explain how legal principles affect management decisions.
Other Key Concepts:
judgement-proof debtor, garnish,
, right of subrogation, right of
security interests in real property:
(right to redeem,
subject to v. assume), deed of trust, land contract, mechanic's lien,
What is the difference
between unsecured and secured if you're a creditor?
, collateral, consumer goods, attachment, after-acquired property,
purchase money security interest in consumer
financing statement, automatic
Types of bankruptcy: Ch 7, 11, and 13 (see lecture below), involuntary