Business Law Day 2

(note: links don’t work. This is a sample from my Moodle Course)

Business Corporation

  • Pre-Class Activites:

  • Complete Task #6 and then reply to the discussion issues posed.

  • In-Class Activities:

  • Task #7: Legal Disaster Strikes

  • The corporation has filed its Articles of Incorporation with the appropriate office. You are awaiting confirmation from the State Corporation Commission (SCC) about whether everything was done correctly. An officer of the corporation (the COO), has found an office building to lease at a rock bottom price. The COO does not consult the Board or any other Officers and goes ahead and signs the lease on behalf of the Corporation. He also writes a check off his personal account for the first month’s rent.  Later, the other members learn that the building is infested with rats and mold and cannot be used for their intended purpose- as the corporate headquarters. Can the company get out of the lease? Did the COO bind the corporation by signing the lease agreement? What personal liability does the COO have? Is it his fault?  How can the company get out of this?

    To figure out this problem watch and read the following resources along with any other resources you find:

    Read: LBS  pages 354-370 AND watch the following videos

Task #8 Assessment

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s