business law with ucc applications,13e the corporate entity chapter 26 mcgraw-hill/irwin copyright...
TRANSCRIPT
![Page 1: Business Law with UCC Applications,13e The Corporate Entity Chapter 26 McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights](https://reader036.vdocuments.us/reader036/viewer/2022082518/56649ebb5503460f94bc40e4/html5/thumbnails/1.jpg)
Business Law with UCC Applications,13e
The Corporate Entity
Chapter 26
McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved.
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Learning Objectives
1. Describe the evolution of associative corporativism.
2. Explain the nature of a corporation.
3. List the constitutional rights of a corporation.
4. Describe the differences among a private, a public, and a quasi-public corporation.
5. Distinguish between a close and an S corporation.
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Learning Objectives (cont.)
6. List the typical elements within the articles of incorporation.
7. Distinguish between the articles of organization and the operating agreement of a limited liability company.
8. Distinguish between a de jure and a de facto corporation.
9. Identify the objective of piercing the corporate veil.
10. Distinguish between common and preferred stock.
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The Corporate Entity
• The Theory of Corporativism– The Corporate Balancing Act – Balancing Corporate Legal Principles
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The Corporate Entity
• The Corporate Balancing Act– The Model Business Corporation Act– State Common Law
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The Corporate Entity
• Balancing Corporate Legal Principles– Corporate Limited Liability– Corporate Entity Status– Corporate Constitutional Rights– Corporate Citizenship
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The Corporate Entity
• Types of Corporate Entities– Private, Public, and Quasi-Public – Domestic, Foreign, and Alien – Close and S Corporations – Limited Liability Companies
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The Corporate Entity
• Corporate Formation– Promoters – Articles of Incorporation– The Corporate Name – Approval of Articles – Commencement of the Business– Formation of a Limited Liability Company
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The Corporate Entity
• Promoters– Preformation Contracts– Novation
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The Corporate Entity
• Formation of a Limited Liability Company– The Articles of Organization– The Operating Agreement– Oral Modifications of the Operating
Agreement– Taxation of an LLC
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The Corporate Entity
• Corporate Identity– De Jure and De Facto Corporation– Corporation by Estoppel – Piercing the Corporate Veil
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The Corporate Entity
• Corporate Financing– Classes of Corporate Stock – Dividends
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The Corporate Entity
• Dividends– Common Stock– Preferred Stock– Stock Valuation