Lecture 13

Entities

Entities are the legally recognized existences used to define the relationship between a business owner and (1) other owners of the same business, (2) the government (taxes), and (3) third parties (contract and tort liability). This lecture is an introduction to entities as a legal category, and we will take a brief look at the issue of ethics in business. The emphasis will be on the distinction between dissolving an entity and terminating a business. As a practical matter, one of the key forms of doing both involves filing for bankruptcy.

Materials: Read Miller & Jentz Chapter 21 (just the portion on Bankruptcy), Chapter 24 (just the introduction), and Chapter 27 (just the part on Corporate Governance). These are the lecture slides and this is the downloadable file of the lecture, available during and after the TTh 12-2 class meeting.

 Quizzes:

       Quiz 24 will be available from 0800 on 15 November until 1400 on 16 November. It covers only the readings & slides for this lecture.

       Quiz 25 will be available from 1600 on 17 November until 1400 on 18 November. This will cover all the material from this lecture.