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National College Credit Recommendation Service

Board of Regents  |  University of the State of New York

National Paralegal College | Evaluated Learning Experience

Business Law and Bankruptcy (PLG-105)


Varies;self-study format.

Various, distance learning format.
September 2008 - Present.
Instructional delivery format: 
Online/distance learning
Learner Outcomes: 

Upon successful completion of the course, students will be able to: describe various documents that must be filed with government agencies in order to create various types of businesses; explain characteristics of various business formations, specifically as they relate to tax and liability issues; outline the formation of a corporation including the certificate of incorporation and corporate bylaws; determine which form of business is most appropriate in a particular situation; list various remedies available to shareholders in claims of mismanagement against key personnel of the corporation; outline the basics of mergers, acquisitions, and hostile takeovers; outline procedures through which mergers and hostile takeovers are accomplished and apply some of the laws surrounding those events to hypothetical situations; define functioning of major stock exchanges such as the New York Stock Exchange and NASDAQ; explain various types of bankruptcy protection available under federal law; identify the most appropriate type of bankruptcy protection to seek, given an individual's financial situation; compare and contrast various types of bankruptcy filings, including liquidation bankruptcy under Chapter 7 of the Bankruptcy Code and reorganization under Chapters 11 and 13; outline the bankruptcy process including various timetables involved; and define and apply the rule of creditors and determine which debts will most likely have priority over others.


This course is designed to provide students with a basic understanding of the principles of the most significant laws pertaining to business organizations. The Business Organization Law component of the course focuses on individual characteristics of various business organizations, including publically held and closely held corporations, general partnerships, sole proprietorships, limited liability partnerships and limited liability corporations. These various forms of business are compared and contrasted to determine the advantages and disadvantages of creating and maintaining each form. Evaluation criteria include: required readings, essay assignments, class participation, and final exam.

Credit recommendation: 

In the lower division baccalaureate/associate degree category OR in the upper division baccalaureate degree category, 3 semester hours or Business Law or Bankruptcy (1/13) (3/18 revalidation) (5/23 revalidation).