BUSINESS ASSOCIATIONS GADINIS FALL 2016

BUSINESS ASSOCIATIONS FALL 2016

1. ATTACK OUTLINE
1.1.

2. INTRODUCTION
2.1.

Introduction to the Law of Enterprise Organization

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3. ACTING THROUGH OTHERS: THE LAW OF AGENCY

3.1.

Introduction to Agency
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3.2.

Agency Formation & Termination

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3.3.

Liability in Contract
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3.4.

Liability in Tort
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3.5.

The Governance of Agency

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4. THE PROBLEM OF JOINT OWNERSHIP: THE LAW OF

PARTNERSHIP
4.1.

Introduction to Partnership
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4.2.

Partnership Formation
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4.3.

Partnership Governance & Issues of Authority

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4.4.

Statutory Dissolution of Partnership at Will

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4.5.

Opportunistic Dissolution and the Partners Duty of Loyalty

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4.6.

Agency Conflicts Among Co-Owners: Fiduciary Duties

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4.7.

Limited Liability Successors of the General Partnership

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BUSINESS ASSOCIATIONS GADINIS FALL 2016

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5. THE CORPORATE FORM

5.1.

Introduction
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5.2.

Creation of a Fictional Legal Entity

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5.3.

Limited Liability
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5.4.

Transferable Shares
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5.5.

Centralized Management
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5.6.

State Competition in Corporate Law

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6. THE PROTECTION OF CREDITORS

6.1.

Mandatory Disclosure
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6.2.

Capital Regulation
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6.3.

Fraudulent Transfer & Equitable Subordination

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6.4.

Piercing the Corporate Veil

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6.5.

Multinationals and Veil Piercing

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7. NORMAL GOVERNANCE: THE VOTING SYSTEM

7.1.

The Role & Limits of Shareholder Voting

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7.2.

Electing & Removing Directors

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7.3.

Shareholder Meetings and Alternatives

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7.4.

Proxy Voting and Its Costs

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7.5.

Class Voting
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BUSINESS ASSOCIATIONS GADINIS FALL 2016

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7.6.

Shareholder Information Rights

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7.7.

Techniques for Separating Control from Cash Flow

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7.8.

Vote Buying
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7.9.

Controlling Minority Structures

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7.10. The Federal Proxy Rules
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7.11. Case Study: Shareholder Activism
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8. NORMAL GOVERNANCE: THE DUTY OF CARE

8.1.

Introduction
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8.2.

The Duty of Care & the Need to Mitigate Director Risk

Aversion
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8.3.

Statutory Techniques for Limiting Director & Officer Risk

Exposure
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8.4.

The Business Judgment Rule

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8.5.

The Boards Duty to Monitor: Losses Caused by Board

Passivity
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8.6.

Knowing Violations of the Law

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9. CONFLICT TRANSACTIONS: THE DUTY OF LOYALTY

9.1.

Duty to whom?
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9.2.

Self-Dealing Transactions
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9.3.

The Effect of Approval by a Disinterested Party

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9.4.

Controlling Shareholders and the Fairness Standard

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9.5.

Corporate Opportunity Doctrine

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9.6.

Executive Compensation
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10.SHAREHOLDER SUITS
10.1. Distinguishing between Direct & Derivative Claims
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10.2. Solving a Collective Action Problem: Attorneys Fees and the
Incentive to Sue
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10.3. Standing Requirements
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10.4. Balancing Rights of Boards and Shareholders
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10.5. Special Litigation Committees
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10.6. Settlement and Indemnification
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10.7. When Are Derivative Suits in Shareholders Interests?
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11.TRANSACTIONS IN CONTROL
11.1. Seller of Control Blocks: The Sellers Duties
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11.2. Tender Offers: Buyer's Duties
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12.MERGERS & ACQUISITIONS

12.1.
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12.2.
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12.3.
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12.4.
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12.5.

Economic Motives for Mergers

Evolution of the U.S. Corporate Law of Mergers
The Allocation of Power in Fundamental Transactions
Overview of Transactional Form
The Appraisal Remedy
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12.6. The De Facto Merger Doctrine
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12.7. The Duty of Loyalty in Controlled Mergers
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13.PUBLIC CONTESTS FOR CORPORATE CONTROL

13.1. Introduction
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13.2. Defending Against Hostile Tender Offers
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13.3. Private Law Innovation: The Poison Pill
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13.4. Choosing a Merger or Buyout Partner: Revlon, Its Sequels,
and Its Prequels
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13.5. Pulling Together Unocal and Revlon
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13.6. Protecting the Deal
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13.7. Proxy Contests for Corporate Control
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13.8. Current US Debate
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13.9. Corporations Outside of Business Law
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