Instructional goals
The course examines the legal framework governing: Limited liability companies. Cooperative societies. Business contracts. Negotiable instruments. Corporate crises and insolvency proceedings for joint-stock companies (S.p.A.), limited partnerships with share capital (L.P.S.A.), and cooperatives, as well as corporate groups. This completes the Commercial Law 1 course, with which it shares the objective of highlighting the role of commercial law in the development of businesses and the economy, balancing regulatory frameworks with private autonomy.
Prerequisites
Having passed the Business Law 1 exam.
Intended learning outcomes
Knowledge and understanding: Through participation in both face-to-face and online classes, students complete the knowledge of corporate law, which began with the Commercial Law I course.
The course also provides opportunities for active student involvement through thematic seminars or in-depth meetings with instructors, industry experts, legal practitioners, and business and institutional representatives. These initiatives, closely related to the topics covered during the course, are designed to strengthen critical and practical understanding of the subject matter, fostering interdisciplinary discussion and ongoing dialogue between theoretical principles and operational practices of commercial law.
An oral exam will be held at the end of the course to assess the acquired knowledge.
Ability to apply knowledge and understanding: Students are equipped to interpret the legal provisions governing the organizational models being studied and to understand the relationship between mandatory rules and private autonomy. An oral exam will be held at the end of the course to assess the acquired knowledge.
Independent judgment: The investigative method developed during the course enables students to identify relevant data and materials for analyzing the legal sources of commercial law and to critically evaluate the various doctrinal and jurisprudential orientations developed in relation to each institution studied. Thus, students acquire the ability to analyze specific cases and qualify them from a legal perspective.
Communication skills: At the end of the course, students are able to use, with adequate terminological precision, the technical and legal vocabulary specific to commercial law.
Learning skills: The technical and legal knowledge acquired during the course enables students to understand and interpret, even independently, regulatory developments and doctrinal and jurisprudential orientations relating to the commercial law institutions studied
Course Contents
Limited liability companies. Cooperative societies. Business contracts. Negotiable instruments. Corporate crises and insolvency proceedings.
Reference Books
G. Presti, M. Rescigno, Corso di diritto commerciale, Volume Unico, Zanichelli, Bologna, 2025, 12ª ed., Volume I – Impresa, Contratti, Titoli di credito, Crisi e insolvenza e Volume II – Società, pp. 91-108, pp. 119-121, pp. 125-128, pp. 140-398, p. 465, pp. 627-693.
In alternativa al manuale di Presti-Rescigno gli studenti possono utilizzare:
G.F. Campobasso, Diritto commerciale 2. Diritto delle società, UTET, Torino, 2024, 11ª ed. a cura di M. Campobasso, pp. 561-648.
G.F. Campobasso, Diritto commerciale 3. Contratti, Titoli di credito, Procedure concorsuali, UTET, Torino, 2022, 6ª ed. a cura di M. Campobasso, pp. 25-36, pp. 105-161, pp. 175-524
Teaching Methods
Frontal teaching
Assessment Method
The examination consists of an oral test. The student must demonstrate an understanding of the principles and notions of Commercial Law 2 and the institutions characterising the course, such as shareholding companies, cooperative companies and groups of companies, also in the light of the supranational framework.
The student must also demonstrate the ability to correctly interpret and apply theoretical notions to practical cases.
The student is required to correctly use the legal vocabulary of the field, showing familiarity with the method of study and the learning skills needed to continue even, also autonomously, the study of the subject. The mark is on an 18-to-30 scale.
Monitoring and mid-term exams might be held to test the students’ progresses, provided anyway that the final mark will be given only during the final examination at the end of the course, according to the procedures and evaluation criteria specified above.
Thesis assignment criteria
Course attendance and successful completion of the exam
Week 1
WEEK 1 – THE LIMITED LIABILITY COMPANY: PRINCIPLES AND KEY FEATURES. FORMATION AND FINANCIAL STRUCTURE
The LLC: Key Features
Lect. XXI, 4.2 and Lect. XXX, 1 of the Presti-Rescigno Manual (Vol. II)
Chap. XVIII, 1 of the Campobasso Manual (Vol. II)
Variations of the LLC in the Civil Code and in special laws
Lect. XXXI, 4 of the Presti-Rescigno Manual (Vol. II)
Chapter XVIII, 13 of the Campobasso Manual (Vol. II)
Incorporation of the s.r.l. Capital and Contributions
Lecture XXX, 2-3.3 of the Presti-Rescigno Manual (Vol. II)
Chapter XVIII, 2-3 of the Campobasso Manual (Vol. II)
Shareholdings and Debt Securities.
Lecture XXX, 4-6 of the Presti-Rescigno Manual (Vol. II)
Chapter XVIII, 4-8 of the Campobasso Manual (Vol. II)
Shareholder loans
Lecture XXX, 3.4 of the Presti-Rescigno Manual (Vol. II)
Chapter XVIII, 3 of the Campobasso Manual (Vol. II)
Week 2
WEEK 2 – THE LIMITED LIABILITY COMPANY: THE ADMINISTRATIVE FUNCTION AND MODELS OF MANAGEMENT.
The division of responsibilities between shareholders and directors: statutory model and contractual models
The administrative function in limited liability companies: substantive aspects and decision-making procedures
Lecture XXXI, 2-2.6., 2.7.1., and 2.7.3. of the Presti-Rescigno Manual (Vol. II)
Chap. XVIII, 11-12 of the Campobasso Manual (Vol. II)
Models of administration and the liability of directors and shareholders
Lect. XXXI, 2.1, 2.8. of the Presti-Rescigno Manual (Vol. II)
Chap. XVIII, 11 of the Campobasso Manual (Vol. II)
Week 3
WEEK 3 – THE LIMITED LIABILITY COMPANY: SHAREHOLDERS’ RIGHTS AND DECISIONS. AUDITOR AND AUDIT. AMENDMENTS TO THE ARTICLES OF INCORPORATION: INCREASE AND REDUCTION OF SHARE CAPITAL
Shareholder Decisions: Powers and Procedures for Adoption
Lecture XXXI, 1.1–1.2 of the Presti-Rescigno Manual (Vol. II)
Chapter XVIII, 9 of the Campobasso Manual (Vol. II)
Invalidity of Decisions
Lecture XXXI, 1.3 of the Presti-Rescigno Manual (Vol. II)
Chapter XVIII, 10 of the Campobasso Manual (Vol. II)
Special Rights of Shareholders
Lecture XXX, 4.2 of the Presti-Rescigno Manual (Vol. II)
Chapter XVIII, 5 of the Campobasso Manual (Vol. II)
Auditor and audit
Lecture XXXI, 2.7.2. of the Presti-Rescigno Manual (Vol. II)
Chapter XVIII, 11 of the Campobasso Manual (Vol. II)
Amendments to the Articles of Incorporation
Section XXXI, 3 of the Presti-Rescigno Manual (Vol. II)
Chapter XVIII, 12 of the Campobasso Manual (Vol. II)
Week 4
WEEK 4 – COOPERATIVE SOCIETIES. BUSINESS CONTRACTS
Cooperative societies and mutualistic purpose
Lecture XXXII, 1, 2 of the Presti-Rescigno Manual (Vol. II)
Chapter XIX, A, 1–3 of the Campobasso Manual (Vol. II)
Organizational Principles of Cooperative Societies
Lecture XXXII, 3-5.5, 6-7 of the Presti-Rescigno Manual (Vol. II)
Chapter XIX, A, 5-16 of the Campobasso Manual (Vol. II)
The Joint Cooperative Group. Mutual Insurance Companies
Lecture XXXII, 5.6., 8 of the Presti-Rescigno Manual (Vol. II)
Chapter XIX, A, 17 and B of the Campobasso Manual (Vol. II)
The category of business contracts. Business-to-consumer and business-to-business contracts
Lecture VI of the Presti-Rescigno Manual (Vol. I)
Week 5
WEEK 5 – THE ESTIMATE CONTRACT. THE TEMPORARY EMPLOYMENT CONTRACT
The estimate contract
Lecture VII, 1.5 of the Presti-Rescigno Manual (Vol. I)
Chapter 2 of the Campobasso Manual (Vol. III)
The Supply Contract
Section VII, 1.6 of the Presti-Rescigno Manual (Vol. I)
Chapter 3 of the Campobasso Manual (Vol. III)
Week 6
WEEK 6 – DISTRIBUTION CONTRACTS. THE INSURANCE CONTRACT
Distribution contracts. Sales concessions. Franchising
Lecture VII, 2.1, 2.3 of the Presti-Rescigno Manual (Vol. I)
Chapter 4 of the Campobasso Manual (Vol. III)
The Insurance Contract
Lecture VIII, 4-4.3 of the Presti-Rescigno Manual (Vol. I)
Chapter 17, 1-5 of the Campobasso Manual (Vol. III)
Week 7
WEEK 7 – FINANCIAL INTERMEDIATION. BANKING CONTRACTS
Leasing, factoring, and securitization of receivables
Lectures IX, 4 and 4.1 of the Presti-Rescigno Manual (Vol. I)
Chapter 14, A of the Campobasso Manual (Vol. III)
Lecture IX, 4.2 of the Presti-Rescigno Manual (Vol. I)
Chapter 14, B of the Campobasso Manual (Vol. III)
Lecture IX, 4.2 of the Presti-Rescigno Manual (Vol. I)
Chapter 14, C of the Campobasso Manual (Vol. III)
Bank Contracts
Lecture IX, 1-3, of the Presti-Rescigno Manual (Vol. I)
Chapter 13 of the Campobasso Manual (Vol. III)
Week 8
WEEK 8 – NEGOTIABLE INSTRUMENTS. THE BILL OF EXCHANGE. THE CHECK
Origins, function, and characteristics of negotiable instruments as archetypes of payment and financing instruments. Circulation, exceptions, and amortization. Dematerialization. Improper instruments and documents of title.
Lect. XI and Lect. XII of the Presti-Rescigno Manual (Vol. I)
Chap. XIX of the Campobasso Manual (Vol. III)
The bill of exchange. The financial bill of exchange
Lecture XIII of the Presti-Rescigno Manual (Vol. I)
Chapter XX of the Campobasso Manual (Vol. III)
The check
Lecture XIII of the Presti-Rescigno Manual (Vol. I)
Chapters XXI and XXII of the Campobasso Manual (Vol. III)
Week 9
WEEK 9 – CORPORATE CRISIS AND THE INSOLVENCY PROCEDURES SYSTEM. JUDICIAL LIQUIDATION
Corporate crisis and the insolvency procedures system
Lecture XIV of the Presti Rescigno Manual (Vol. I)
Chapter XXIII of the Campobasso Manual (Vol. III)
Judicial Liquidation: Prerequisites, Bodies, and Main Effects
Lecture XVI of the Presti Rescigno Manual (Vol. I)
Chapter XXIV of the Campobasso Manual (Vol. III)
Judicial liquidation: the procedure
Lecture XVI, 4–6, of the Presti Rescigno Manual (Vol. I)
Chapter XXIV, D–E, of the Campobasso Manual (Vol. III)
Week 10
WEEK 10 – THE PREVENTIVE COMPOSITION. DEBT RESTRUCTURING AGREEMENTS
The preventive composition
Lectures XV, 6-6.5., 6.7.-6.10., 6.12, of the Presti Rescigno Manual (Vol. I)
Chapter XXV, A of the Campobasso Manual (Vol. III)
Reorganization Plans and Debt Restructuring Agreements
Lecture XV, 2, 4-4.5., of the Presti Rescigno Manual (Vol. I)
Chapter XXXIII, 6 and Chapter XXV, B of the Campobasso Manual (Vol. III)
Week 11
WEEK 11 – COMPULSORY ADMINISTRATIVE LIQUIDATION. THE EXTRAORDINARY ADMINISTRATION OF LARGE INSOLVENT COMPANIES
Compulsory administrative liquidation
Lecture XVII, 1-1.2., of the Presti Rescigno Manual (Vol. I)
Chapter XXVI of the Campobasso Manual (Vol. III)
The Extraordinary Administration of Large Insolvent Enterprises
Lecture XVII, 2-2.4., of the Presti Rescigno Manual (Vol. I)
Chapter XXVII, 1-5, of the Campobasso Manual (Vol. III)
Week 12
WEEK 12 – INSOLVENCY PROCEDURES IN CASES OF OVER-INDEBTEDNESS
Over-indebtedness: general principles
Lecture XVII, 4.1, 4.2, of the Presti Rescigno Manual (Vol. I)
Chapter XXVIII, 1, of the Campobasso Manual (Vol. III)
Controlled liquidation of over-indebtedness
Lecture XVII, 4.5, 4.6, of the Presti Rescigno Manual
Chapter XXVIII, A, of the Campobasso Manual (Vol. III)
Procedures for resolving over-indebtedness crises
Lecture XVII, 4.3, 4.4, of the Presti Rescigno Manual
Chapter XXVIII, B, of the Campobasso Manual (Vol. III)