Unincorporated Business Associations – 6049
This course introduces students to the main features of leading forms of unincorporated business associations, including limited liability companies (LLCs), partnerships, limited partnerships, and limited liability partnerships. Topics covered include authority and management structure, fiduciary duty, financial rights, transfer rights, and dissociation and dissolution. The course is structured around a series of exercises in which students negotiate, draft, and analyze the governing agreement for a simulated LLC. The course is strongly recommended for students who have taken the 1L Corporations elective.