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LEGAL ENVIRONMENT OF BUSINESS EXAM 2 REVIEW CHECKLIST While studying for the second exam in this course, you might find it helpful to gain  or check on your familiarity with the following concepts/ definitions/ ideas: Chapter 8 1. agent / principal 2. fiduciary duty 3. principal liability for agent’s torts 4. respondeat superior  5. 6. 7. principal liability for agent’s contracts 8. types of authority 9. ratification 10. sole proprietorship 11. definition of partnership 12. partnership formation 13. 14. partners’ interest in partnership property v. interest in entire partnership 15. withdrawal / dissolution / termination 16. limited partnerships Chapter 9 17. corporation  18. promoters 19. adoption 20. shareholder/director/officer liability 21. 22. limited liability
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