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Business Associations - Coggle Diagram
Business Associations
Corporations
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Federal Securities Law
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Elements
misrep of material fact; knowledge by D, scienter, reliance of P, damages
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Partnership
Creation = ass'n of 2> ppl to carry on as co-owners a business for-profit. Formation Consider: writing, stat formalities, types, test, sharing profits
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Working Life. Consider = powers, authority, remuneration, liability
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Dissociation/Dissolution
Consider - right to dissociate?, whether partnership is dissolved?, Dissolution
Agency
Definition = fiduciary relationship that arises when one person (a ‘principal’) manifests intent to another person (an ‘agent’) that the agent shall act on the principal’s behalf and subject to the principal’s control, and the agent manifests assent or otherwise consents to so act.”
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Contracts
3rd Party v. Principal
AGENT MUST HAVE AUTHORITY TO ENTER THE AGREEMENT. Actual, apparent, or ratification
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