Distinguish between an employee and an independent contractor.
Explain the duties that agents and principals owe to each other.
Describe the advantages and disadvantages of the various forms of business organizations.
Identify the rights, duties, and powers among partners in a partnership.
Distinguish between general and limited partnerships.
Describe the limited liability company and the limited liability partnership.
Describe the major documents involved in forming a corporation.
Explain the concept of the corporation as a “person” in the eyes of the law.
Describe the responsibilities of corporate officers and board members.
Define real property.
Distinguish among the various possessory ownership interests in real property.
Identify the characteristics of nonpossessory interest in real property.
Discuss the acquisition of property by sale, adverse possession, and eminent domain.
Define personal property.
Define a bailment and describe how a bailment comes into being.
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