Author Description

The Fifth Edition has retained many cases from the previous edition, particularly those that teach well. Recent cases have not been substituted for older ones simply because they are newer. A number of changes, however, have been made to reflect new developments. These changes include the approval by NCCUSL of the Uniform Partnership Act (1993); the development and growth of Limited Liability Companies and Limited Liability Partnerships; developments in the area of piercing the corporate veil: tort liability, reverse piercing, and further amendments to the Texas statute; the SEC's so-called Small Business initiative; the American Law Institute's Corporate Governance Project and developments in the law of close corporations.