LEX 150 Commercial Law I

Lecture: 2 Lab: 2 Clinic: 0 Credits: 3

This course covers legally enforceable agreements, forms of organization, and selected portions of the Uniform Commercial Code. Topics include drafting and enforcement of contracts, leases, and related documents and selection and implementation of business organization forms, sales, and commercial papers. Upon completion, students should be able to apply the elements of a contract, prepare various business documents, and understand the role of commercial paper.

Co-requisite(s): LEX 120.
Course is typically offered in Spring.
Student Learning Outcomes (SLOs)
At completion of the course, the student should be able to do the following:

Identify the different types of contracts and the obligations that arise when a contract is formed.
Apply the elements of a legally binding contract through drafting business agreements.
Assess the significance of the Uniform Commercial Code and the Statute of Frauds on business transactions.
Compose common documents used by business entities when applied to specific business transactions.
Assess the legal rules governing management, liability, damages, and taxation in business structures, such as sole proprietorships, partnerships, LLCs, and corporations.