About this course: This course is the second course in a two-part series on corporate and commercial law. In this part, we focus on three main topics: business organizations, business financing, and governmental regulation. In the first module, we discuss the characteristics of a number of the most common forms of business entities, such as corporations and LLCs. Module two is devoted to debtor-creditor relationships, including bank financing, debt financing, secured transactions, and bankruptcy. We wrap up the course with two modules that focus on the most important aspects of governmental regulation, including the process by which administrative agencies make rules, and the regulation of anti-competitive behavior and securities transactions.
Who is this class for: Primarily students preparing for the REG section of the CPA exam, but also anyone interested in business law.
Created by: University of Illinois at Urbana-Champaign
Taught by: Professor Michael R Fricke, Teaching Assistant Professor
Department of Business Administration
| Level | Intermediate |
| Commitment | 4 weeks of study, 6-8 hours/week |
| Language | English |
| How To Pass | Pass all graded assignments to complete the course. |
Syllabus
WEEK 1
Introduction to course
In this module, you will become familiar with the course, your instructor and your classmates, and our learning environment. This orientation will also help you obtain the technical skills required to navigate and be successful in this course.
2 videos, 4 readings, 1 practice quiz
- Video: About Professor Fricke
- Reading: Syllabus
- Reading: About the Discussion Forums
- Practice Quiz: Orientation Quiz
- Reading: Update Your Profile
- Discussion Prompt: Get to Know Your Classmates
- Reading: Build a Learning Community with Social Media
Module 1: Business Organizations
In this module, you will learn about the most common forms of business organizations. Beginning with sole proprietorships and moving on through various forms of partnerships, corporations, and limited liability companies, we will discuss how each type of business entity is formed and how it operates. By the end of this module, you will be able to differentiate between the most important types of business organizations and understand which form is most appropriate for achieving certain business goals.
8 videos, 1 reading, 8 practice quizzes
- Reading: Module 1 Overview and Resources
- Practice Quiz: Lesson 1.1 Knowledge Check
- Video: Partner Rights & Duties
- Practice Quiz: Lesson 1.2 Knowledge Check
- Video: Special Forms of Partnerships
- Practice Quiz: Lesson 1.3 Knowledge Check
- Video: Introduction to Corporations
- Practice Quiz: Lesson 1.4 Knowledge Check
- Video: Corporate Formation
- Practice Quiz: Lesson 1.5 Knowledge Check
- Video: Shareholder Rights, Powers, & Liability
- Practice Quiz: Lesson 1.6 Knowledge Check
- Video: Director & Officer Rights, Duties, & Liability
- Practice Quiz: Lesson 1.7 Knowledge Check
- Video: Limited Liability Companies
- Practice Quiz: Lesson 1.8 Knowledge Check
Graded: Module 1 Quiz
WEEK 2
Module 2: Debtor-Creditor Relationships
In this module, we will learn about the laws that govern the relationship between a lender and a borrower. We will discuss the basics of bank financing and debt financing, with special attention paid to loans that are secured by collateral consisting of personal property. We wrap up the module with several lessons explaining the bankruptcy process, and how debtors and creditors navigate the three most common forms of bankruptcy.
9 videos, 1 reading, 8 practice quizzes
- Reading: Module 2 Overview and Resources
- Video: Interview with Banker
- Practice Quiz: Lesson 2.1 Knowledge Check
- Video: Bank Financing: Collection of Debts
- Practice Quiz: Lesson 2.2 Knowledge Check
- Video: Debt Financing
- Practice Quiz: Lesson 2.3 Knowledge Check
- Video: Secured Transactions: Foundations & Remedies
- Practice Quiz: Lesson 2.4 Knowledge Check
- Video: Secured Transactions: Perfection & Priority
- Practice Quiz: Lesson 2.5 Knowledge Check
- Video: Bankruptcy: Foundations & Procedure
- Practice Quiz: Lesson 2.6 Knowledge Check
- Video: Bankruptcy: Exempt Property & Fraudulent Transfers
- Practice Quiz: Lesson 2.7 Knowledge Check
- Video: Types of Bankruptcy
- Practice Quiz: Lesson 2.8 Knowledge Check
Graded: Module 2 Quiz
WEEK 3
Module 3: Regulation Part I: Foundations, Consumers, and the Environment
In this module, you will learn about administrative agencies and how they regulate many aspects of business. We will talk about how agencies make rules and then how they enforce those rules. Then we will look at a series of important federal agencies and learn about how they operate within the scope of their authority. By the end of this module, you will understand the basics of the administrative rule-making process and know some of the primary regulatory activities of the FTC, CFPB, FDA, and EPA.
7 videos, 1 reading, 7 practice quizzes
- Reading: Module 3 Overview and Resources
- Practice Quiz: Lesson 3.1 Knowledge Check
- Video: The Rule-Making Process
- Practice Quiz: Lesson 3.2 Knowledge Check
- Video: Agency Investigations & Administrative Courts
- Practice Quiz: Lesson 3.3 Knowledge Check
- Video: FTC Regulation of Commercial Activity
- Practice Quiz: Lesson 3.4 Knowledge Check
- Video: CFPB Regulation of Financial Institutions
- Practice Quiz: Lesson 3.5 Knowledge Check
- Video: FDA Regulation of Food, Drugs, & Cosmetics
- Practice Quiz: Lesson 3.6 Knowledge Check
- Video: EPA Regulation of Pollution
- Practice Quiz: Lesson 3.7 Knowledge Check
Graded: Module 3 Quiz
WEEK 4
Module 4: Regulation Part II: Antitrust and Securities
In this module, we continue our discussion of administrative regulations from the previous module, focusing specifically on antitrust and securities regulation. Prohibiting anticompetitive behavior and ensuring fair securities transactions are two of the most important ways the government regulates commerce. By the end of this module, you will understand the basics of federal antitrust and securities laws.
10 videos, 2 readings, 9 practice quizzes
- Reading: Module 4 Overview and Resources
- Video: Interview with Venture Capitalist
- Practice Quiz: Lesson 4.1 Knowledge Check
- Video: Antitrust: Horizontal & Vertical Restraints of Trade
- Practice Quiz: Lesson 4.2 Knowledge Check
- Video: Antitrust: Mergers
- Practice Quiz: Lesson 4.3 Knowledge Check
- Video: Antitrust: Enforcement & Exemptions
- Practice Quiz: Lesson 4.4 Knowledge Check
- Video: Securities Laws & the SEC
- Practice Quiz: Lesson 4.5 Knowledge Check
- Video: Initial Public Offerings: Procedures & Liability
- Practice Quiz: Lesson 4.6 Knowledge Check
- Video: Initial Public Offerings: Shortcuts & Exemptions
- Practice Quiz: Lesson 4.7 Knowledge Check
- Video: Trading Securities: Section 10(b) & Rule 10b-5
- Practice Quiz: Lesson 4.8 Knowledge Check
- Video: Trading Securities: Insider Trading & Short-Swing Profits
- Practice Quiz: Lesson 4.9 Knowledge Check
- Reading: Course Wrap-Up
- Discussion Prompt: Final Reflection: What Will You Do with It?
Graded: Module 4 Quiz
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