KIDD_BusAssocPM-SR080911

8/3/2019 KIDD_BusAssocPM-SR080911

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Business Associations

Instructor: Jeremy Kidd

Office: Hazel Hall 312Office Phone: 703-993-5620

Office Hours: Tues. 2:00 - 4:00 p.m., Wed. 1:30 - 4:30 p.m.; 8:00 9:00 p.m., or by appointmentEmail:[email protected]

Class Hours: Mon. & Wed., 6:00 p.m. to 7:50 p.m.

Participation: By now, you should be used to preparing the required readings prior to the classin which they will be discussed. I do use the Socratic method, and I expect that you will be

prepared to discuss the topics and readings assigned for class. However, I do not believe that the

Socratic method requires abusing or belittling students, so the process should not be too painful.I also promise that I will try very hard never to hide the ball.

I will often ask for volunteers, but to incentivize adequate preparation for class, I will alsorandomly call on students from a deck of cards with your names on them. The deck is shuffled

every day, so you may be called on two or more days in a row, or you may not be called on for

weeks. I may adjust class grades based on exceptional class participation. Repeatedly being

unprepared for class will constitute unacceptable class participation, but simply volunteering toparticipate on a repeated basis will not, by itself, qualify you for a positive grade adjustment

its about quality, not quantity. If youre not prepared for a class (it happens to all of us from

time to time), tell me before class starts, and I will not call on you that day. Fair warning,however repeatedly requesting a pass will make you ineligible for a positive grade adjustment.

Exam: December 12, 2011 @ 6:00 p.m.

Reading: Readings average 30 pages per class. I will e-mail students on Thursday the readingassignment for the following week. The casebook is WILLIAM T.ALLEN, ET AL.,COMMENTARIES

AND CASES ON THE LAW OF BUSINESS ORGANIZATION (3d ed. 2009) (AKS). The background

materials are in the Statutory Supplement to the casebook; I will point out important sections aswe progress through the semester.

During the term, additional readings may be mentioned. I will attempt to be clear as to whether

these readings are useful (helpful if you are interested in a particular point), suggested (helpfulfor understanding points that each of you should know to be proficient in the material), or

compulsory (helpful for understanding concepts that will be tested). I will provide hotlinks

whenever possible on this courses TWEN page, for which you should all register. Registeringfor this course on TWEN will also be beneficial, in that I will use TWEN to regularly post brief

synopses of the important concepts which you should study in preparation for your final.

First Assignment: AKS 1-13 (introduction to enterprise organization), AKS 15-16 (introduction

to agency), AKS 41-42 (introduction to partnership), AKS 85-87 (introduction to corporations).

Second Assignment: AKS 16-40


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Provisional List of Topics: This list is preliminary, and will almost assuredly be supplemented by

outside readings. Also, I may choose to bypass certain sections, so pay attention to your e-mail

on Thursdays, and I will let you know what to read for the coming week.

Agency

1. The Agency RelationshipAKS 15-21

Restatement (Second) 1-7, 118

Restatement (Third) 1.01-.04, 5.01-.04

2. Liability in ContractAKS 21-29Restatement (Second) 8, 8A, 8B, 26-27, 35, 43, 82-83, 94, 124A, 136,

140, 144, 159, 161, 186, 194-95

Restatement (Third) 2.01-.03, 2.05-.07, 3.01-.03, 3.06, 3.09-.11, 4.01-.08, 6.01-.04, 6.10-.11

3. Liability in TortAKS 30-34Restatement (Second) 215-216, 217C, 217D, 219-20, 228, 230-32

Restatement (Third) 2.04, 7.03-.08

4. Agency DutiesAKS 34-40Restatement (Second) 13, 379, 381, 385, 387-91, 393, 395

Restatement (Third) 8.01-.11, 8.14-.15

Partnership

5. Introduction to PartnershipAKS 41-52

Uniform Partnership Act (UPA) 101-03, 106, 201, 203

6. Partnership FormationAKS 52-55

UPA 202

7. Relations with Third PartiesAKS 55-60

UPA 301, 303, 305-08

8. Partnership GovernanceAKS 61-62UPA 401, 403-04, 501-04


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9. TerminationAKS 63-75

UPA 601-03, 701-04, 801-04, 807

10.

Limited Liability FormsAKS 75-83UPA 1001-03

Delaware Revised Uniform Limited Partnership Act

Delaware Limited Liability Company Act

Corporation Law

11. Introduction to the Corporate FormAKS 85-87

Delaware General Corporation Law (DGCL)

Model Business Corporation Act (MBCA)

12. CreationAKS 87-95

DGCL MBCA Chapters 2-5

13. Limited LiabilityAKS 96-99

DGCL MBCA 6.22(b)

14. ManagementAKS 99-113

DGCL

MBCA

15. Capital Structure and ValuationAKS 115-130

DGCL MBCA

Protection of Creditors

16. Capital RegulationAKS 131-140

17. Director LiabilityAKS 140-145


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18. Shareholder LiabilityAKS 145-168

Corporate Governance

19.

Shareholder VotingAKS 169-208

20. Proxy RulesAKS 208-238

21. Duty of CareAKS 239-291

DGCL 141, 251, 271MBCA 8.30-8.31

22.

Knowing Violations of LawAKS 291-294

23. Duty of LoyaltyAKS 295-330, 348-362DGCL 141-144

24. Director and Management CompensationAKS 330-348

Shareholder Lawsuits

25. Direct vs. Derivative ClaimsAKS 363-375, 411-412

26. Demand RequirementAKS 375-388

27. Special Litigation CommitteesAKS 388-407

28. Settlement and IndemnificationAKS 407-411

Issues of Control

29. Introduction to Control IssuesAKS 413-433


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30. Tender OffersAKS 433-439

Mergers and Acquisitions

31.

Introduction to M&AAKS 443-452

32. Transactional FormsAKS 452-462

33. Structuring the TransactionAKS 462-474

34. Duties and RightsAKS 474-510

35. Hostile Takeovers and Poison PillsAKS 511-533, 588-597, 606-613

36. Friendly DealsAKS 533-588

37. Proxy ContestsAKS 597-605

Securities Regulation

38. Rule 10b-5AKS 629-646, 672-690

Exchange Act 10(b)

Exchange Act Rule 10b-5

39. Insider TradingAKS 615-629, 646-672, 690-696

40. Recent Developments: Sarbanes-Oxley and Frank-DoddReadings to be Announced

KIDD_BusAssocPM-SR080911

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