Professional Documents
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Question
Ben Barros
This is a class in business organizations, so one way of organizing the course is by type
of organization.
1. With an exam question, the first thing to do is figure out what type of
organization you are dealing with.
2. The second thing to do is to categorize the parties to the dispute. Is it between:
3. Partners and partners?
4. Partners and creditors?
5. Shareholders of a corporation and creditors?
6. Principal and party seeking to bind principal to actions of an agent?
7. Shareholders and directors?
8. Majority shareholder v. minority shareholder?
Agency is not an organization per se, though you can think of an agent and principal as a
two-person organization of sorts.
LLCs offer the limited liability of a corporation and the tax treatment and flexibility of a
partnership.
Corporations.