Business Associations* (4 credits) - California Bar Tested
This course offers coverage of both fundamental agency law principles and an in-depth study of the law governing various business forms/entities, including sole proprietorships, general partnerships, corporations, limited partnerships, limited liability companies, and limited liability partnerships. In addition to addressing basic questions of formation, students will acquire an understanding of the law governing various aspects of business operations and growth, the means by which investors and other stakeholders may legitimately obtain a return on their investment, the extent of personal stakeholder liability with respect to business obligations, and other topics of relevance. Coverage of various business entities in the context of a single course offers students the opportunity, via comparison and contrast, to appreciate the unique legal character of specific business forms. This knowledge will enhance their ability to advise clients with respect to which business entity best achieves their clients’ overall business objectives. The course also serves to prepare students for advanced study in arenas in which prior knowledge of various business entity fundamentals is assumed.
Corporations* (3 credits)
This course provides a basic understanding of both closely held and publicly held for-profit corporations. Particular attention is given to the way in which corporations organize and operate. The course also examines the respective roles, relationships, responsibilities, and liability exposure of shareholders, directors and officers. The study of corporate litigation and regulation under key portions of the Securities Exchange Act of 1934 and the rules and regulations of the S.E.C. is included.
Federal Income Tax (3 credits)
This course introduces students to the system of federal income taxation of individuals. The tax system is studied with emphasis on basic concepts rather than detailed computations. Significant attention is given to the public policy served by various provisions of the Internal Revenue Code. Primary consideration is given to principles and policies relating to the taxation of individuals including procedure, income, deductions, gains and losses, and transactional aspects of income taxation. The Internal Revenue Code and Regulations are emphasized. (This course is a J.D. graduation requirement for students who matriculated at the Law School prior to Fall 2021.)
Financial Accounting** (3)
This course represents an introduction to accounting for students with little background in the field. Initial emphasis is on established accounting principles and the analysis of financial statements. The course’s perspective is that of a business attorney who might use financial statements to advise clients in various legal settings (e.g., the drafting of financial contracts and the valuation of businesses). Applications to securities law are also considered.
*Students must take either Business Associations or Corporations as one of the core courses in this program. Students may not take both courses. These courses are already required for the JD degree.
**This course may be waived upon verification that the student previously completed a comparable course in their undergraduate/graduate studies. The course previously taken will not be accepted in transfer, but it is only to waive out of this requirement for the emphasis. Students must contact the Associate Dean for Academic Affairs to request a waiver based on an accounting course previously taken.