Understanding
Corporate Law
CAROLINA ACADEMIC PRESS UNDERSTANDING SERIES
Understanding Administrative Law, 6e
William Fox, Jr.
Understanding Alternative Dispute Resolution
Kristen Blankley and Maureen A. Weston
Understanding Animal Law
Adam Karp
Understanding Antitrust and Its Economic Implications, 6e
E. Thomas Sullivan and Jeffrey Harrison
Understanding Bankruptcy, 3e
Jeffrey Ferriell and Edward Janger
Understanding California Community Property Law
Jo Carrillo
Understanding Capital Punishment Law, 4e
Linda Carter, Ellen Kreitzberg, and Scott Howe
Understanding Civil Procedure, 5e
Gene Shreve, Peter Raven-Hansen, and Charles Geyh
Understanding Civil Procedure: The California Edition
Walter W. Heiser, Gene Shreve, Peter Raven-Hansen, Glen Earl Weston, and Charles Geyh
Understanding Civil Rights Litigation, 2e
Howard M. Wasserman
Understanding Conflict of Laws, 4e
William Richman, William Reynolds, and Chris Whytock
Understanding Constitutional Law, 4e
John Attanasio and Joel Goldstein
Understanding Contracts, 4e
Jeffrey Ferriell
Understanding Copyright Law, 6e
Marshall Leaffer
Understanding Corporate Law, 5e
Arthur Pinto and Douglas M. Branson
Understanding Corporate Taxation, 3e
Leandra Lederman and Michelle Kwon
Understanding Criminal Law, 8e
Joshua Dressler
Understanding Criminal Procedure: Vol. 1: Investigation, 7e
Joshua Dressler, Alan C. Michaels, and Ric Simmons
Understanding Criminal Procedure: Vol. 2: Adjudication, 4e
Joshua Dressler and Alan C. Michaels
Understanding Disability Law, 2e
Mark C. Weber
Understanding Election Law and Voting Rights
Michael R. Dimino, Bradley A. Smith, and Michael E. Solimine
Understanding Employee Benefits Law
Kathryn Moore
Understanding Employment Discrimination Law, 2e
Thomas Haggard
Understanding Employment Law, 2e
Jeffrey M. Hirsch, Paul M. Secunda, and Richard Bales
Understanding Environmental Law, 3e
Philip Weinberg and Kevin Reilly
Understanding Estate and Gift Taxation
Brant Hellwig and Robert T. Danforth
Understanding Evidence, 4e
Paul Giannelli
Understanding Family Law, 4e
John Gregory, Peter N. Swisher, and Robin Wilson
Understanding Federal and California Evidence
Paul Giannelli
Understanding Federal Courts and Jurisdiction, 2e
Linda Mullenix, Martin H. Redish, and Georgene Vairo
Understanding Federal Income Taxation, 5e
J. Martin Burke and Michael Friel
Understanding the First Amendment , 6e
Russell L. Weaver
Understanding Immigration Law, 2e
Kevin R. Johnson, Raquel Aldana, Ong Hing, Leticia Saucedo, and Enid Trucios-Haynes
Understanding Insurance Law, 6e
Robert H. Jerry, II and Douglas Richmond
Understanding Intellectual Property Law, 3e
Donald Chisum, Tyler T. Ochoa, Shubha Ghosh, and Mary LaFrance
Understanding International Business and Financial Transactions, 4e
Jerold Friedland
Understanding International Criminal Law, 3e
Ellen S. Podgor and Roger S. Clark
Understanding International Law, 2e
Stephen McCaffrey
Understanding Jewish Law
Steven Resnicoff
Understanding Juvenile Law, 5e
Martin Gardner
Understanding Labor Law, 4e
Douglas E. Ray, Calvin William Sharpe, and Robert N. Strassfeld
Understanding the Law of Terrorism, 2e
Erik Luna and Wayne McCormack
Understanding the Law of Zoning and Land Use Controls, 3e
Barlow Burke
Understanding Lawyers' Ethics, 5e
Monroe H. Freedman and Abbe Smith
Understanding Local Government, 2e
Sandra Stevenson
Understanding Modern Real Estate Transactions, 4e
Alex M. Johnson, Jr.
Understanding Negotiable Instruments and Payment Systems
William H. Lawrence
Understanding Nonprofit and Tax Exempt Organizations, 2e
Nicholas Cafardi and Jaclyn Cherry
Understanding Partnership and LLC Taxation, 4e
Jerold Friedland
Understanding Patent Law, 3e
Amy Landers
Understanding Products Liability Law, 2e
Bruce L. Ottley, Rogelio Lasso, and Terrence F. Kiely
Understanding Property Law, 4e
John Sprankling
Understanding Remedies, 3e
James Fischer
Understanding Sales and Leases of Goods, 3e
William H. Henning, William H. Lawrence, and Henry Deeb Gabriel
Understanding Secured Transactions, 5e
William H. Lawrence, William H. Henning, and R. Wilson Freyermuth
Understanding Securities Law, 7e
Marc I. Steinberg
Understanding Taxation of Business Entities
Walter Schwidetzky and Fred B. Brown
Understanding Torts, 6e
John Diamond, Lawrence C. Levine, and Anita Bernstein
Understanding Trademark Law, 3e
Mary LaFrance
Understanding Trusts and Estates, 6e
Roger W. Andersen and Susan Gary
Understanding White Collar Crime, 4e
J. Kelly Strader
Terms of Use
Your use of this electronic publication (eBook) from LexisNexis, a division of RELX Inc., a Massachusetts corporation, or its affiliates, is subject to the following terms and conditions. This eBook is for your personal use only. All access to and use of this eBook is subject to U.S. and international copyright law. All intellectual property rights are reserved to the copyright holder. Redistribution or duplication of this eBook to any other electronic media or a third party is strictly prohibited. Under no circumstances may you redistribute this eBook commercially or post this eBook on an intranet, internet or SharePoint site. Finally, use of this eBook is further subject to the terms and conditions of use which were accepted at the time you completed your purchase of this eBook from the point of purchase.
Understanding
Corporate Law
FIFTH EDITION
Arthur R. Pinto
Professor of Law Emeritus
Brooklyn Law School
Douglas M. Branson
W. Edward Sell Chair in Business Law
University of Pittsburgh School of Law
CAROLINA ACADEMIC PRESS
Durham, North Carolina
Copyright 2018
Carolina Academic Press, LLC
All Rights Reserved
Library of Congress Cataloging-in-Publication Data
Names: Pinto, Arthur R., author. | Branson, Douglas M., author.
Title: Understanding corporate law / Arthur R. Pinto and Douglas M. Branson.
Description: Fifth edition. | Durham, North Carolina : Carolina Academic Press, LLC, [2018] | Series: Understanding series | Includes bibliographical references and index.
Identifiers: LCCN 2018011007 | ISBN 9781531010003 (alk. paper)
Subjects: LCSH: Corporation law--United States.
Classification: LCC KF1414 .P56 2018 | DDC 346.73/066--dc23
LC record available at https://lccn.loc.gov/2018011007
eISBN 978-1-53101-001-0
Carolina Academic Press, LLC
700 Kent Street
Durham, North Carolina 27701
Telephone (919) 489-7486
Fax (919) 493-5668
www.cap-press.com
Printed in the United States of America
Contents
Preface
now incorporates material on limited liability companies (LLCs). This book is designed to be used with all of the major corporate law casebooks.
Next page