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The Ninth Edition continues the basic approach of its predecessors: using problems as a vehicle for discussing cases and textual material to develop an understanding of the law of business enterprises and the policy issues that influence its evolution. The new edition adds significant new material on agency, partnerships and LLCs to enable its use in a course in Business Associations. It is divided into four parts: Part I introduces the different types of entity and their essential features, including legal personality and limited liability; Part II is devoted to closely-held entities; Part III deals with accounting, finance, and formation of enterprises; and Part IV focuses on the publicly held corporation.