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)