The legal form of a debtorís business may represent a key risk factor for creditors and thus it is important that credit professionals understand the different forms of business and how they affect the rights of creditors and debtors. This learning module focuses on the legal form of an organization as a factor in credit analysis. Discussion will focus on how those vendors and bankers dealing with a business are affected. Topics covered include the Creditorís Interest in Legal Composition; Proprietorships; Partnerships; Corporations; S Corporations; Estates; Limited Liability Companies (LLCs); Limited Liability Partnerships (LLPs); and Common Law Trusts. After successful completion of this learning module the student should understand the importance of the customerís legal form of organization in credit decisions; the major features of proprietorships, partnerships, corporate organizations, and S corporations; the major features of estates, limited companies, common law trusts, joint ventures and cooperative societies.
Debie Wangsgard, CCE, has a Bachelorís degree in Business from Westminster College and has been working in the field of credit for over 32 years , first working in the construction industry, and then as the Corporate Credit Manager for Swire Coca Cola, and most recently for Stock Building Supply in the Credit Training Department. She was recognized as Instructor of the year in 2008 by NACM Business Credit Services. She has given numerous seminars, online webinars, and developed over 40 training programs to strengthen credit managers in their profession and has taught CAP classes for