Learning Objectives
Define and distinguish various types of business organizations,
including sole proprietorships, franchises, partnerships, LLPs, LLCs,
and special business forms
Identify how business entities are formed, how they operate, and the
advantages and disadvantages of each
Explain all aspects of the agency relationship including formation and
duties of the parties
Identify the circumstances under which principals are liable to third
parties as a result of the acts of an agent
Reading and Resources
Textbook: Dynamic Business Law, Chapter 33: Read only these two
sections: Types of Agency, Agency Relationships, and Chapters 34, 35, 36,
and 38
