REG Business Law Foundations and Legal Relationships

This part covers the business-law segment of REG. The point is not to turn the section into a law-school outline. It is to understand the legal relationships and transaction rules that affect enforceability, authority, liability, creditor rights, and entity structure.

In This Part

• Agency Relationships, Authority, and Termination covers authority, principal-agent relationships, and liability.
• Contract Law for REG explains formation, performance, breach, and remedies.
• Debtor-Creditor Law, Bankruptcy, and Security Interests addresses secured transactions, creditor rights, and insolvency-related issues.
• Federal Laws Affecting Business Operations covers selected federal-law topics that appear in REG scope.
• Business Structures and Internal Governance explains entity form and governance from a legal perspective.

How to Use This Part

• Read these chapters as applied law for CPA candidates, not as abstract doctrine.
• Focus on what legal fact changes the result, obligation, or enforceability outcome.
• Return here when a REG miss is really about legal relationships rather than tax treatment.

In this section

• Agency Relationships, Authority, and Termination
  REG agency-law coverage for formation, authority, duties, liability, and termination.
  • Agency Formation and Relationship Types
    How agency relationships arise and which types of agency matter for REG fact patterns.
  • Actual, Apparent, and Ratified Agent Authority
    How actual authority, apparent authority, and ratification bind principals in agency law.
  • Agent and Principal Duties, Liability, and Remedies
    Fiduciary duties, liability exposure, and remedies within principal-agent relationships.
  • Agency Termination, Notice, and Third-Party Effects
    How agency ends and how notice affects third-party reliance and lingering liability.
• Contract Law for REG
  REG contract-law coverage for formation, defenses, performance, remedies, and special contract types.
  • Offer, Acceptance, and Consideration in Contract Formation
    The elements required to form an enforceable contract and the common traps around them.
  • Fraud, Mistake, Duress, and Illegality as Contract Defenses
    The main defenses that can make an apparent agreement void, voidable, or unenforceable.
  • Contract Performance, Discharge, and Breach Remedies
    How contract duties are performed, discharged, breached, and remedied.
  • Sales, Employment, and Online Contract Rules
    How contract law changes in UCC sales, employment agreements, and online contracting.
• Debtor-Creditor Law, Bankruptcy, and Security Interests
  REG debtor-creditor coverage for guarantor liability, bankruptcy basics, secured transactions, and priority rules.
  • Rights and Liability of Debtors, Creditors, and Guarantors
    The legal relationships, duties, and recourse rights among debtors, creditors, and guarantors.
  • Bankruptcy Basics, Automatic Stay, and BAPCPA
    Core bankruptcy concepts for REG, including chapters, priority claims, the automatic stay, and BAPCPA.
  • Secured Versus Unsecured Transactions Under the UCC
    How secured and unsecured creditor positions differ under UCC Article 9.
  • Perfection, Priority, and Enforcement of Security Interests
    How security interests are perfected, ranked, and enforced after default.
• Federal Laws Affecting Business Operations
  REG coverage of worker classification, ACA rules, anti-bribery law, and other business requirements.
  • Worker Classification and Employment Tax Consequences
    How employee versus contractor status changes payroll tax and compliance obligations.
  • ACA Mandates, Qualified Plans, and Tax Credits
    The ACA rules in REG that affect employer coverage, qualified plans, and health-related tax credits.
  • FCPA Anti-Bribery and Recordkeeping Rules
    The anti-bribery and accounting-control rules that matter under the FCPA.
  • Other Federal Business Statutes and Compliance Rules
    Additional federal statutes and industry rules that can change legal or compliance outcomes in REG scenarios.
• Business Structures and Internal Governance
  REG entity-law coverage for legal characteristics, formation, governance, authority, and compliance.
  • Legal Characteristics of Sole Proprietorships, Partnerships, Corporations, and LLCs
    How the major entity forms differ in liability, formation, governance, and tax posture.
  • Entity Formation, Operation, and Termination
    How business entities are formed, operated, maintained, and dissolved.
  • Owner and Management Rights, Duties, and Authority
    How owners, directors, managers, and partners allocate control and authority inside business entities.
  • Governing Documents, Internal Rules, and Compliance
    Operating agreements, shareholder documents, recordkeeping, and compliance controls across entity forms.