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Law

J.D./LL.M.

As a student in the J.D./LL.M. joint degree program, you complete both your J.D. degree and your LL.M. degree in Bankruptcy or Real Estate in as little as seven semesters.

The J.D./LL.M. Option

The joint degree program can reduce by half both the time and expense of obtaining your LL.M.in Bankruptcy or LL.M. in Real Estate Degree. How does it work? The LL.M. courses you take as a J.D. student will count toward the credits needed for your J.D.degree. In addition, up to 12 of those credits can also count toward the 24 credits needed for your LL.M. degree. You will receive your J.D. degree upon completion of the J.D. degree requirements and your LL.M. degree upon the completion of the additional LL.M. degree requirements. (You must complete your J.D. degree and be formally admitted into the LL.M. program in order to receive the LL.M. degree.) 

A Flexible Option

The joint J.D./LL.M. degree program is designed to be as flexible as possible. The program is open to both St. John’s students and J.D. candidates at any ABA-accredited law school. While we strongly recommend that you apply to and be admitted into the J.D./LL.M. program before taking any LL.M., LL.M. courses completed before you apply may count toward your LL.M. degree if you are later admitted into the LL.M. program. Indeed, as long as you are admitted into the LL.M. program within two years after graduating from the J.D. program, any LL.M. courses you completed as a J.D. student will count toward the requirements for your LL.M. degree. Thus, you may apply before you take any LL.M. courses, while you are taking LL.M. courses, or within two years after your J.D. graduation. However, the program is selective and admission is not guaranteed regardless of how many LL.M. courses you completed as a J.D. student. Thus, you must be accepted into the LL.M. program before taking.

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Degree Type
JD/LLM
Area of Interest
Law, Policy & Government
Associated Colleges or Schools
Program Location
  • Queens Campus
Required Credit Hours
24

Admission

J.D./LL.M. Admission Standards

The J.D./LL.M. option is available to St. John’s law students and to students attending other ABA-accredited law schools (subject to the consent of the home school’s Dean). Our program is small and we are looking for strong students who have the character and intelligence needed to flourish in a rigorous academic program. Acceptance will be based on your academic record, recommendations, published and unpublished written work, interest in bankruptcy and other relevant factors. 

Students From Other Schools

Under ABA rules, our LL.M. courses may be applied as transfer credits to satisfy the J.D. requirements of other ABA-accredited law schools. You may obtain the full benefit of the joint degree program by spending your final semester of law school as a visiting student at St. John’s, taking courses for J.D. credit while completing half of your LL.M. degree requirements. (Alternatively, if you attend a nearby law school, you may enroll on a visiting student basis in one or more specific LL.M. courses while taking other J.D. courses at your home school.) Your home school is not required to accept transfer credits. Thus, before enrolling at St. John’s you must obtain a letter from your Dean stating that our credits will be accepted for transfer for your J.D. degree. You will receive your J.D. degree from your home school, but will already have completed much of the work on your St. John’s LL.M. in Bankruptcy degree. 

Application Process

You may apply for admission to the joint degree program at any time after you have completed 54 J.D. credit hours (the equivalent of two years of J.D. coursework), including at least one introductory course in bankruptcy or real estate. Applications may be obtained from the LL.M.office or the program website (listed below). There is no deadline and your application will be processed as soon as it is complete. However, if you attend a school other than St. John’s, please apply well in advance of the semester you wish to matriculate so that there will be time to obtain necessary approvals from your Dean and make any necessary student loan and housing arrangements. If you are not a St. John’s student, you must also submit a letter from your Dean stating that our credits will be accepted for transfer for your J.D. degree.

Additional Information

Financial Aid

The joint degree option has the effect of a half-tuition LL.M. scholarship since you may double-count up to half of the credits needed for the LL.M. degree. In addition, several LL.M. scholarships are available for exceptional students. However, LL.M. scholarship aid will be applied only to the credit hours you take in the LL.M. program after completion of your J.D. degree (and thus is not available for the J.D. portion of the joint-degree program). If you attend a school other than St. John’s University, we can arrange a consortium agreement (if your home school agrees) so that your student loans will be available for credits taken at St. John’s before you receive your J.D. degree. Various student loan and work-study programs are available for your post-J.D. work in the LL.M. program. 

 

Courses

Courses

What Do I Take?

The joint degree program is flexible so you can take as few or as many LL.M. courses as you like—and you can take them whenever you like. The only limitations are that you must have the appropriate pre-requisites (typically Creditors’ Rights) and that no more than 12 credits can count toward the LL.M. degree (although you may take more than 12 LL.M. credits as a J.D. student). 

Special Course Considerations

Our curriculum is rich and interdisciplinary. In addition to more than two dozen specialized LL.M. in Bankruptcy courses, the full range of J.D. courses plus many M.B.A. courses are available as electives, subject to the Director’s approval. Special rules apply to J.D. and M.B.A. elective courses taken by joint degree students. Contact the Director if you want to apply these credits to your LL.M. degree requirements. The Advanced Research Seminar (thesis preparation) presents a special challenge if taken during the J.D. phase of the joint degree program. Students rarely complete a thesis early, but you must at least produce a draft that can be graded during the semester if you intend to apply any thesis credit to your J.D. degree. 

Required Courses

Bankruptcy Procedure (two credits)

This course will include simulation and exercises in practice under the Federal Rules of Bankruptcy Procedure.  The students will also draft pleadings, discovery requests, orders and judgments in bankruptcy.

Bankruptcy Taxation (two credits)
This course will examine the tax aspects of bankruptcy practice.  Taxation is a major aspect of many bankruptcy cases and an emerging sub-specialty in the bankruptcy field.  The course will consider such areas as the post-confirmation carry forward of losses, and tax planning for entities in financial difficulty.

Business Bankruptcy Reorganizations (two credits)
The course will examine the reorganization of financially distressed enterprises under Chapter 11 of the Bankruptcy Code and the theoretical and economic underpinnings of reorganization.  The course will consider all aspects of Chapter 11 from filing to confirmation of a plan of reorganization, conversion or dismissal.  The following topics will be covered: good faith; venue; retention and compensation of professionals; the extent of the court’s equitable powers; use, sale and lease of the debtor’s property; successor liability; post-petition financing.

Consumer Bankruptcy (two credits)
This course will examine Chapter 7 and 13 of the Bankruptcy Code, including the principles of the fresh start and equality of distribution; the roles of the case trustee and United States Trustee; good faith and substantial abuse; the automatic stay; property of the estate; discharge, challenges to discharge and dischargeability; rights to convert and dismiss; bankruptcy petition preparers; and recent research concerning trends and developments in consumer bankruptcy filings.  

Elective Courses (offerings vary by semester)

Advanced Bankruptcy Research Seminar Parts I and II (three credits each)
This seminar will be devoted entirely to the preparation by the student of a Masters thesis.  The professor will be able to work closely with each student in selecting the topic, performing the research, and writing the thesis.  

Bankruptcy Clerkship Seminar

Bankruptcy Financial Planning and Accounting (two credits)
This course will provide a working knowledge of accounting practice and procedures related to bankruptcy.  This is not a general accounting course, but is specifically related to the accounting principles and financial documents required in a bankruptcy case including monthly operating statements, and disclosure statements, as well as pro-forma financial statements prepared as part of a proposed bankruptcy plan.  LL.M. students without a substantial accounting background (e.g., CPA or equivalent) are strongly urged to take this fundamental course to comprehend, interpret and analyze financial data in order to determine whether an entity is financially viable and whether it can be reorganized under Chapter 11 of the Bankruptcy Code.

Bankruptcy Policy

Bankruptcy Practice – Litigation (one credit)
This course focuses on the types of research, writing and oral skills that are common to most bankruptcy practices.  The course will be structured around a problem that raises a difficult bankruptcy issue.  Students will research and draft a legal memorandum analyzing the law, prepare a motion and brief, and argue the motion orally.   The course is intended to be an advanced and intensive research and writing course and students will be expected to produce at least two drafts of each written exercise.  The course will be graded on a letter grade basis, with evaluation based primarily on the quality of the exercises.  J.D. prerequisite: Creditors’ Rights.

Bankruptcy Practice – Opinion Drafting (one credit)
This course focuses on the types of transactional research and writing skills that are common to most bankruptcy practices.  The course will be structured around a common opinion issue in bankruptcy practice.  Students will conduct legal research on the issue and draft a legal opinion of the type common to bankruptcy practice (e.g., a non-consolidation or true sale opinion).   Additional exercises may be required.  The course is intended to be an advanced and intensive research and writing course and students will be expected to produce at least two drafts of each written exercise.  The course will be graded on a letter grade basis, with evaluation based primarily on the quality of the exercises.  J.D. prerequisite: Creditors’ Rights.

Bankruptcy Sales (one credit)
This course examines the bankruptcy sale process.  The course will cover the basic rules governing bankruptcy sales and will explore the motivations of the parties and creative uses of the sale process.  Evaluation will be based on an examination, but class participation or a paper may be factored into the final grade.  Pre-requisite for J.D. students: Creditors’ Rights.

Complex Bankruptcy Litigation Seminar (two credits)
This course will examine litigated aspects of fraudulent conveyances, equitable subordination, substantive consolidation, preference proceedings and contested proceedings for confirmation of chapter 11 reorganization plans, and civil RICO, lender, and CERCLA liability. The course will also address ethical issues such as conflicts of interest.

Domestic Relations in Bankruptcy (two credits)
This course will examine issues such as the enforceability and dischargeability of ante-nuptial, divorce, and separation agreements; maintenance and support obligations and other pre-bankruptcy consensual arrangements including the rights and obligations of spouses of persons in bankruptcy.  Evaluation will be based on class participation as well as a final project assigned by the professor.

Drafting Bankruptcy and Commercial Agreements and Documents (two credits)
This is a practice-oriented course intended for students interested in transactional work.  Students will learn how to draft documents such as agreements pertaining to cash collateral, loans, asset purchases, disclosure statements, reorganization plans and post-petition loans.  The students will be required to submit various drafting exercises throughout the semester.  

Executory Contracts in Business Bankruptcy Cases (1 Credit)
This course examines the treatment of executory contracts in bankruptcy. The course will cover the basic rules governing assumption, rejection and assumption and assignment, and the course will explore the motivations of the parties. Evaluation will be based on an examination, but class participation may be factored into the final grade. Pre-requisite for J.D. students – Creditors’ Rights.

International Bankruptcy (2 Credits)
This course covers all aspects of international bankruptcy.  The comparative insolvency law component of the course will cover the major bankruptcy systems used around the world.  Then students will study how those systems interact in the component devoted to managing cross-border cases.  Finally the course will review the European Union regulation on cross-border insolvency and the use of the U.S. Chapter 11 procedure by foreign companies.  The course will be taught by a variety of guest lecturers from around the world who are leading experts on these topics. The lectures will be offered in real-time interactive audio/video format.  In addition, a St. John’s professor will be on-site to supervise each session and answer questions students may have. Evaluation will be based on an examination.  Class participation may be factored into the final grade.  Pre-requisite for J.D. students – Creditors’ Rights (Reorganization Under Chapter 11 is a recommended pre- or co-requisite).

Negotiation in Bankruptcy (one credit)
The Bankruptcy Code is designed to encourage debtors and creditors to reach accommodations.  In Chapter 11, a negotiated, consensual plan of reorganization is considered desirable.  This course will focus on negotiation problems and techniques, involving simulated negotiation problems, to increase students' awareness of negotiation issues and to enhance their ability to negotiate the successful resolution of bankruptcy issues and cases.

New Developments in Business Bankruptcy (one credit)
This course explores recent important developments in the area of Business Bankruptcy that may not be addressed fully in other courses.  The instructor will moderate seven two-hour sessions that will bring to St. John’s the foremost experts on the subjects covered.  The topics covered by the guest lecturers will vary from year to year.   Students will be assigned readings for each class, which will generally include a paper prepared by the lecturer and assigned cases.  Evaluation will be based on an examination, but active class participation is required and participation in class exercises may be factored into the final grade.   Pre-requisite for JD students – Creditor’s Rights.

Partnership Bankruptcy, LLC and Alternative Entity Bankruptcy (one credit)
This course considers bankruptcy issues uniquely confronting general- and limited liability partnerships and LLC’s, with an emphasis on partnerships. Issues include: case commencement; scope of property of the estate; scope of the automatic stay; treatment of partnership agreements under Section 365; rights and claims between (and among) a partnership and its constituent partners (including a study of Section 723); discharge of individual partners' debts, and specialized plan confirmation issues. Various proposals for legislative reform, such as those of the National Bankruptcy Review Commission will considered. Tax issues will be touched upon, but not considered in depth.

Pension Benefits in Bankruptcy (one credit)
This course will examine the effect of the bankruptcy of an employer on the pension benefits, both ERISA and non-ERISA, of employees.  It will also examine the effect of bankruptcy on life insurance and health benefits.  It will discuss when and if ERISA benefits become part of the estate of an employee who files in bankruptcy.  Attention will be given to issues arising in representing the employer or individual employee when one or the other files in bankruptcy and the limits on the reach of creditors with respect to benefits otherwise available to the employee and the employee's family.

Real Estate Workouts and Bankruptcy (two credits)
This course will examine the consequences of real estate defaults, emphasizing major current problems faced by real estate mortgagees, landlords, tenants and partners in default situations and mitigating drafting techniques that may be employed in the documentation stage.  Among the areas covered will be: negotiating and drafting a workout agreement; lender liability; cramdown of bankruptcy plans; and the effect of bankruptcy of a real estate partner.

Representing Trustees in Bankruptcy (one credit)
This course examines current issues that arise in the representation of trustees in the bankruptcy process.  Among other issues, the course will examine the powers and duties of a trustee, the process of appointment and compensation of a trustee, the role a trustee plays in different contexts, and the relationship between a trustee and the Office of the United States Trustee.  The differing powers, duties, & roles of a trustee in Chapter 7, 11, 12 & 13 cases will be explored.

Secured Transactions in Bankruptcy (two credits)
This course examines the effect of Article 9 personal property security interests on the rights of creditors in bankruptcy cases.  Particular emphasis is placed on the interplay between the provisions of UCC Article 9 and the Bankruptcy Code.  The course explores the array of secured creditor issues that can arise in both consumer and business cases.  

Securitization, Structured Finance and Capital Markets (two credits)
This course will examine the legal structure of securitization, a trillion-dollar industry.  Securitization is the process by which a company sells its receivables (debts owed to it) to a special purpose entity (SPE) created specifically for that purpose.  This form of financing can realize lower interest rates to the company selling the receivables than if the company borrowed against its receivables and kept title.  The most common securitization is GNMA certificates, representing collections of promissory notes secured by home mortgages.  In recent years, car loans, consumer receivables and bank loan portfolios have been securitized in this manner. Indeed, even entertainers such as David Bowie have securitized their music royalties.  The course will touch on various legal issues raised by this industry, including secured transactions, bankruptcy, corporate finance, securities regulation, corporate governance, and the role that legal opinions play throughout the deal process.

Selected Topics in Bankruptcy (one credit)
This course will be offered in the LL.M. Bankruptcy program periodically to explore a topic of major significance to the insolvency community that is not covered or covered sufficiently in some other course.  It will be a thorough, in depth, review of the issue and the problems arising therefrom.  It will be taught by an expert or experts in the area involved.  Students may enroll for multiple “Selected Topics” course offerings but may not take the same offering for credit more than once. 

Small Business Bankruptcy (one credit)
This course will address and discuss the problems encountered by, and the possible solutions for small business entities (corporations, partnerships, and LLC’s) in financial distress.  In addition to facing all the same inherent problems that large businesses have in reorganizing and restructuring, small businesses face added burdens with regard to the inherent costs of successful reorganization and access to quality financial and legal advice.  Likewise, small business creditors often look at huge write-offs that might be mitigated by a successful reorganization process. The goal is for the students to obtain a thorough understanding of the many issues involved in small business and agricultural bankruptcies.

Supreme Court Amicus Brief Part I (2 credits over 2 semesters)
Under the supervision of the professor, the class will research, draft and file an amicus brief in a pending U.S. Supreme Court bankruptcy appeal (or Court of Appeals case if there is no appropriate Supreme Court appeal).  Students will also study brief writing and the amicus concept.  Written assignments will include at least one research memo and a section of the amicus brief.  Grading will be based on the quality of the student’s research and written work, and on the student’s contribution to the amicus brief project.  Although there is a classroom component to the course, the majority of the work will be concentrated in the period when the brief is written.  Since the brief deadline could be in either semester, students must commit to both semesters of the course.  Enrollment is limited and open only to LL.M. students.

Designated J.D. Level Elective Courses

Students may elect, subject to approval, a limited number of the following group of designated existing courses offered at St. John’s provided they have not taken similar courses in seeking their J.D. degree and meet any necessary prerequisites for the courses. Students may take other J.D. courses with permission where the course is necessary in connection with the student’s thesis or contemplated area of expertise.

Advanced Real Estate Transactions (two credits)
This course is designed to acquaint the student with current real estate concepts and trends. It studies institutional lending practices, sale and leaseback financing, real estate investment trusts, syndication, air rights projects, and cooperatives and condominiums. The income tax ramifications of various legal arrangements are studied in conjunction with an analysis of the legal framework of the transaction.

Alternative Dispute Resolution (two credits)
This course is designed to give both the theoretical and practical approaches to the various forms of the dispute resolution process including mediation, conciliation, fact-finding, court-annexed arbitration and hybrid combinations of these processes. The course is concerned with the factors underlying these methods of dispute resolution and the ethical issues arising in the ADR context. Simulated ADR situations will be videotaped and critiqued. Grades will be based on a written paper.

Business Planning (three credits)
This course is designed to coordinate several areas of business-related law and to sensitize students to the constant practical interplay of these areas. Students will be assisted in verbalizing and drafting responses to the problems encountered. Significant emphasis is placed on out-of-class drafting of legal documents.

Consumer Protection (three credits)
This course explores the laws governing a variety of oppressive sales practices, including unfair and deceptive advertising, bait and switch transactions, and referral sales. The course also examines the law governing credit cards and other consumer credit transactions, including credit reporting, credit discrimination, abusive collection practices, and usury, and covers relevant federal and state statutes.

Corporate Finance (three credits)
The course consists of a detailed study of legal, business, economic, corporate and accounting aspects of corporate valuation and of capital structure, issuance and reacquisition of various types of securities (including new financial instruments and financing techniques), dividend policy, interplay with financial markets, and the use and legal regulation of commodity and financial futures, options and markets. It will also deal with financing in connection with corporate mergers and acquisitions and related issues in contemporary corporate finance.

Federal Corporate Income Taxation (two credits)
This course applies the principles of federal income taxation to problems arising from the use of the corporate form. The tax consequences to the corporation and to the shareholders are considered. Major topics covered in the course include what entities are considered corporations for tax purposes, tax-free incorporation, the treatment of dividends and Section 306 stock, redemptions, partial and complete liquidations, and mergers, divisions and other corporate reorganizations.

Federal Securities Regulation (three credits)
The course focuses on the Securities Act of 1933 and the Securities Exchange Act of 1934. Particular emphasis will be placed on the public distribution process, registration, proxy regulation, regulation of tender offers and corporate repurchases, short-swing trading by corporate insiders and the anti-fraud provisions (including Rule 10b-5 and civil liability). The course will also examine the professional responsibilities of securities lawyers and other professionals andwill touch upon regulation of securities exchanges and the over-the-counter market and regulation of brokers and dealers.

Secured Transactions (two credits)
In this course, the history, structure and operation of Article 9 of the Uniform Commercial Code (secured transactions) are studied in detail. The course material is supplemented by problems designed principally to familiarize the student with the terminology and basic concepts of Article 9.

Designated M.B.A. Elective Courses:
Students may elect, subject to approval, a maximum of six credit hours of graduate level courses offered by the Peter J. Tobin College of Business.  (Students in the joint J.D./LL.M. degree program are permitted to apply such M.B.A. course credits to the LL.M. degree even if the M.B.A. credits are received prior to completion of the J.D. degree.)  The following designated courses generally would be allowed as LL.M. electives.  Students may take other M.B.A. courses with permission where the course is necessary in connection with the student’s thesis or contemplated area of expertise.

ECO 600 Managerial Economics and Forecasting
Prerequisite: ECO 506. This course focuses on applied microeconomics. It addresses practical business problems, including analysis of industries within national and international contexts. The course also analyzes the problem of forecasting as an integral part of decision-making. Credit: 3 semester hours.

FIN 634 Investment Analysis
Prerequisites: FIN 633. This course covers the microstructure of the securities markets, trading mechanisms, investment processes, investment objectives, risk analysis and security valuation. The course examines the applicability of fundamental analysis, efficient market theory and technical analysis. Hedging and alternative investments are also covered. Credit: 3 semester hours.

FIN 635 Capital and Money Markets
Prerequisite: FIN 507. The course focuses on structure, operation, instruments and players of the capital markets in the United States, Japan, Europe and emerging markets. The course also discusses impact of government policy on interest rates, exchange rates, market practices, development of securities design, financial risk management and international monetary policies. Credit: 3 semester hours.

FIN 655 Financial Risk Management
Prerequisite: FIN 633. Topics include risk identification, risk measurement, risk monitoring and risk management/control. The primary objective is to expose students to primary areas of risk management and enable them to understand risk reports and data and their implications to the institution. (Overlaps with Rmi. 614, students may take only one.) Credit: 3 semester hours.

MGT 640 Entrepreneurship
Students learn how to plan and implement a new venture. Entrepreneurial processes are examined in the context of organizing a planning team, isolating key planning premises and establishing objectives, strategies and policies to achieve planning and operational success. Planning and control are examined and practiced from the perspective of entrepreneurs who develop ideas for new ventures, then marshal and manage the resources to bring their ideas to reality. The course uses case studies, application projects and oral and written reports. Credit: 3 semester hours.

RMI 614 Risk Funding Tools
Derivatives, swaps, hybrid securities, indexed debt, contingent financing and insurance. Results in students able to hedge pure and financial risk singularly and jointly. (Overlaps with Fin. 655, students may take only one.)  Credit: 3 semester hours.

Courses

What Do I Take?

In completing the 24 credits of coursework required for the Real Estate LL.M., you may choose from a diverse roster of courses in the Law School and the Peter J. Tobin College of Business, subject only to the following requirements:

  • You must take two Required Courses, comprising a total of five credits: Real Estate Transactions (in your first semester of study) and Advanced Topics in Real Estate Law (in your final semester of study).
  • You must take Real Estate Elective Courses that, together with the Required Courses, aggregate at least 15 credits.
  • You may take Designated Elective Courses (provided that you have not taken a similar course in seeking their J.D. degree and meet any necessary pre-requisites).
  • You may take Designated Tobin Elective Courses and may apply up to 6 credits of such courses to the Real Estate LL.M. degree.
  • You may take other courses at the Law School or the Peter J. Tobin College of Business with permission where the course is necessary in connection with your particular area of study or contemplated area of expertise.

Required Courses

Required Courses comprise five total credit hours: Real Estate Transactions (3 credits), which is required to be taken in the student’s first semester of study, and Advanced Topics in Real Estate Law (2 credits), which is required to be taken in the student’s last semester of study.

REAL ESTATE TRANSACTIONS
(PROPERTY - 1090)
3 credits
This course examines the fundamental legal and business building blocks of real estate transactions. Topics include the role of the lawyer, broker participation and responsibilities, the contract of sale and remedies for breach, deeds and closing, the title system, mortgages and foreclosure. This course provides a foundation for other advanced real estate courses. Grades are based upon a final examination. Pre-requisite: PROPERTY.

ADVANCED TOPICS IN REAL ESTATE LAW
(PROPERTY – 2050)
2 credits
In this seminar, students will explore cutting-edge issues in real estate law and deepen their understanding of concepts related to the financing, development, ownership and operation of real estate not covered in depth in any other course. Topics covered will change from year to year to reflect the most recent developments and trends in real estate, and the instructor's particular areas of expertise. Case studies of actual and simulated transactions will be used to increase students' understanding of the issues explored. The course will be taught as a mixture of lecture, directed discussion and seminar, and is anticipated to include distinguished guest lecturers with expertise in the particular topics covered. Course is SWR- eligible with prior approval of the professor. Grades will be based on a research paper (50%), several short response papers (25%), and class participation (25%). Pre-requisites: REAL ESTATE TRANSACTIONS and four additional credits of advanced PROP coursework. Enrollment requires permission of the Program Director.

Real Estate Elective Courses (offerings vary by semester)

Real Estate Elective Courses, together with the Required Courses must comprise not less than 15 of a student’s total credit hours.

COMMERCIAL REAL ESTATE LEASING
(PROPERTY - 2010)
2 credits
This course introduces students to the negotiation, drafting and interpretation of commercial real estate leases.  Topics include: letters of intent, term, permitted use, assignment and subleasing, rent, alterations, maintenance, building services, regulatory compliance, options, brokers, casualty, insurance, indemnities, subordination, defaults and remedies. The course will also address ancillary lease documentation such as non-disturbance agreements, estoppel certificates and guaranties; certain tax consequences of commercial leasing; and ethical issues that arise in commercial leasing practice. Special attention will be paid to New York State and City laws impacting commercial leases.  Students will gain an understanding of the key negotiating points in a commercial lease, the interests of the parties in relation to those points, and the process of negotiation which results in lease documentation memorializing these interests. Grades will be based on a final examination. Prerequisite: Property.

CONDOMINIUMS, COOPERATIVES & HOMEOWNER ASSOCIATIONS 
(PROPERTY - 1000)
2 credits
This course examines modern forms of shelter from the viewpoint of the community, the developer, the institutional lender and the consumer. The relative advantages of each form of development, the legal problems involved in selling and re-selling individual units, and the controls that may be exercised over unit owners are examined. The economic, social and legal aspects of conversion of rental properties to cooperative or condominium status are discussed. Rights and remedies in the event of defaults by unit owners/developers are also considered. Students will work with applicable statutes, governmental regulations and documents of existing projects. Grades are based upon a midterm examination (10% of final grade) and a final examination (90% of final grade).

CONSTRUCTION LAW
(PROPERTY - 2040)
2 credits
This course is designed to provide students with a working knowledge of the field of construction law, beginning with the parties to a typical construction project, the types of contracts used, the competitive bidding process, labor law issues, and the resolution of disputes, with a concentration on issues related to construction in New York State and City. The students will review a standard construction contract published by the American Institute of Architects, participate in a mock mediation of a construction dispute, review and complete NYC Vendex Questionnaires required of all NYC municipal contractors, and review and complete a notice of mechanic's lien. The objective will be to provide the students with the ability to advise clients working in the construction field in reviewing contracts, participating in the competitive bidding process, handling disputes and labor issues, and filing claims for public and private works projects. Grades will be based on a final examination and class participation.

DIRECTED RESEARCH
(DIRECTED RESEARCH - 1000)
2 credits
The course in Directed Research is designed to afford students the opportunity to prepare a major research paper of publishable quality under the direction of a faculty adviser who has expertise in a particular area of the law. Students are responsible for obtaining the sponsorship of a faculty member prior to registering for the course. Students must complete an “Approval of Directed Research” form with the signatures of the faculty adviser and the Associate Dean to be submitted to the Registrar prior to the end of the semester drop/add period. Academic credit will be awarded only if the student has successfully completed all requirements by the end of the student's penultimate semester at the Law School. Completion of requirements means that the student shall have produced a final writing of at least 6,700 words in length (approximately twenty-five pages), inclusive of footnotes, that, except for the minimum grade, satisfies the guidelines in place at the time of registration and shall have prepared a detailed outline and have satisfied any other preparatory steps required by the instructor. Pre-requisite: LEGAL WRITING II. As with any course, Directed Research may be taken only once in a student’s academic program.

DRAFTING: REAL ESTATE TRANSACTIONS
(PROPERTY - 1050)
2 credits
This course provides intensive instruction in the drafting of real estate-related contracts and documents, including contracts of sale, deeds, mortgages, brokerage agreements and leases. Students learn how to translate a business deal into contract concepts, how to structure an agreement, and how to draft contract provisions clearly, precisely, and efficiently. Students will study New York State statutes and caselaw setting forth legal principles relevant to the drafting of key provisions. Students will be responsible for a series of written exercises, culminating in a full-length agreement at the end of the semester. Some negotiation is included. Grades will be based on several short-written assignments (totaling 30%), an initial and a revised draft of a full-length agreement (totaling 55%) and class participation (15%) Students will be required to complete an ungraded take-home midterm examination. This course satisfies the Advanced Practice Writing Requirement. Pre-/Co-requisites: REAL ESTATE TRANSACTIONS.

EMERGING ISSUES IN REAL ESTATE LAW SEMINAR (INTENSIVE)
(PROP - _____)
1 credit
In this seminar, students will explore cutting-edge issues in real estate law and deepen their understanding of concepts related to the financing, development, ownership and operation of real estate not covered in depth in any other course. Topics covered will change from year to year to reflect the most recent developments and trends in real estate, and the instructor’s particular areas of expertise. Grades will be based on a final examination (75%) and class participation (25%). Pre-requisites for JD students: Real Estate Transactions and four additional credits of advanced PROP coursework. Enrollment requires permission of the Program Director.

ENVIRONMENTAL LAW
(ENVIRONMENTAL LAW - 1000)
3 credits
This course covers the legal responses to current environmental problems, including climate change, air and water quality, toxic substances, solid and hazardous waste and the preservation of parks, wetlands and the habitats of endangered species. The course starts with the common law of nuisance and the public trust doctrine, foundations of the current law. It then traces the development of federal and state environmental statutes and the administrative law that governs agencies implementing these statutes’ provisions. Grades are based upon a final examination.

EXTERNSHIP SEMINAR (LL.M.)
(_____-____)
2 Credits
This 2-credit seminar is required when an LL.M. student is taking an Externship Placement during the fall or spring semesters. The students will be required to submit weekly time sheets and reflect on their work at the placement. The first thirty minutes or so of each class will be devoted to the students’ reflections. Students will be required to write a 2000 word paper of the type that would appear in a practice-oriented bar-type journal on a topic encountered during the placement, and present the paper to the class. Students will be required to attend three hours of continuing legal education on a topic relevant to the student's chosen area of practice and make an oral presentation to the class on what was learned. Grades will be based on 30%: 2000-word practice-oriented paper; 20%: Oral in-class presentation of practice-oriented paper; 20% oral presentation of CLE learning; 20% weekly reflection papers and any oral presentations thereof; and 10%: class participation. Co-requisite: EXTERNSHIP PLACEMENT (ADVOCACY AND LEGAL SKILLS - 2015).

INTERNATIONAL ENVIRONMENTAL LAW
(ENVIRONMENTAL LAW - 1030)
(INTERNATIONAL LEGAL STUDIES - 1030)
3 credits
This course surveys the leading legal instruments and approaches to dealing with regional and global environmental problems. It will address transboundary air and water pollution, mass catastrophes, protection and allocation of freshwater supplies, stewardship of ocean resources such as fisheries, protection of the atmosphere (including the ozone layer and climate change), transport and trade in hazardous chemicals and waste, and biodiversity. The course will explore the environmental side of new approaches to economic regulation, including the world trade regime, and emerging ideas about sustainable development. Grades are based upon a final examination.

LAND USE PLANNING
(PROPERTY - 1010)
3 credits
This course provides an analysis of the legal and administrative aspects of land use control, and of the problems and techniques of urban planning. The course includes a study of building codes, zoning, subdivision, public acquisition of land tax controls and urban redevelopment. Grades are based upon a research paper of law review quality on a topic approved by the faculty member conducting the seminar.

REAL ESTATE DEVELOPMENT
(PROPERTY - 1040)
2 credits
This course examines the law and practice of real estate development, including substantive discussion of such areas as: assemblage of a development site; entitlements, air/development rights and permits; ownership structures; construction financing; agreements with contractors, designers, property managers and leasing agents; and exit strategies. Students will be introduced to the economic considerations associated with a real estate development. Special attention will be given to laws and regulations that impact the real estate development process in New York City. Students will also be instructed on ethical issues that arise in this area of practice.  Grades are based upon a midterm (20% of grade) and a final examination (80% of grade). Students would benefit from taking REAL ESTATE TRANSACTIONS prior to or concurrent with enrollment in this course.

REAL ESTATE FINANCE
(PROPERTY - 1070)
3 credits
This course examines the law and process of real estate finance in its many forms. It covers topics distinct from those covered in Real Estate Transactions. Topics will include commercial real estate financing techniques such as leasehold mortgages, mezzanine loans, preferred equity, CMBS and REITs. The course will also address participations, syndications, and intercreditor arrangements. Federal and state consumer protection laws affecting consumer mortgages will be covered, as will foreclosures, in both the commercial and residential contexts. Students will learn to review and analyze key provisions in financing documentation from the perspective of multiple stakeholders. Students will also be instructed on ethical issues that arise in this area of practice. Grades will be based on a midterm (10%) and a final examination (90). Pre- or Co-requisite: REAL ESTATE TRANSACTIONS.

REAL ESTATE WORKOUTS & BANKRUPTCY
(PROPERTY - 2030)
2 credits
This course will examine the consequences of real estate defaults, emphasizing the major current problems faced by real estate mortgagees, landlords, tenants and partners in default situations and mitigating drafting techniques that may be employed in the documentation stage. Among the areas covered will be: negotiating and drafting a workout agreement; lender liability; cram down of bankruptcy plans including classification and “new value” issues; and effect of bankruptcy of a real estate partner. Grades are based upon a research paper and a final examination. Pre-requisite for J.D. students: CREDITORS' RIGHTS OR REAL ESTATE FINANCE or BUSINESS BANKRUPTCY REORGANIZATIONS.

Designated Elective Courses (offerings vary by semester)

A student may take Designated Elective Courses provided the student has not taken a similar course in seeking their J.D. degree and meets any necessary pre-requisites. Students may take other Law School courses with permission where the course is necessary in connection with the student’s particular area of study or contemplated area of expertise.

ALTERNATIVE DISPUTE RESOLUTION
(ADVOCACY AND LEGAL SKILLS - 1020)
2 credits
This course gives students an overview of the law and practice of the three primary forms of extrajudicial dispute resolution: negotiation, mediation, and arbitration. The course includes both instruction in the legal doctrines regulating these forms of dispute resolution and exposure to the skills these processes require, through simulations, exercises, and other forms of experiential learning. Grades are based on participation in class discussions and exercises, written assignments, and a final examination. Alternative Dispute Resolution is a required course for Dispute Resolution Society students. Pre-requisite: Lawyering. This course satisfies the Applied Skills Requirement

ADVANCED INTERVIEWING AND COUNSELING
(ADVOCACY AND LEGAL SKILLS - 7020)
2 credits
Building on the first year course in Lawyering, this course offers students an opportunity to develop skills in interviewing and counseling, including but not limited to gathering information, ascertaining the client's interests, developing specific goals and strategies, advising the client, negotiating an acceptable settlement, and addressing ethical considerations. Classroom work will involve the exploration of techniques of interviewing and counseling, focusing on the unique relationship of lawyer and client. Students will develop the skills studied by participating in simulated exercises that involve realistic situations raising common legal and ethical issues. Grades are based on classroom participation, demonstration of the skills taught, and the submission of written work. Pre-requisite: Lawyering. This course satisfies the Applied Skills Requirement

BANKING LAW & REGULATION
(BUSINESS AND FINANCE LAW - 1030)
3 credits
This course provides an introduction to the rapidly-growing and constantly-changing area of banking law in the United States. The course explains the following areas: the historical background of the industry and public policy considerations, the duality of the system, bank holding companies, branching and other market entry problems, limitations on power of various banking organizations, the various regulatory systems and the agencies and their functions, controls in the monetary system, consumer protection, non-bank competition, the process of deregulation, and present conditions and problems. The course does not include a study of the Uniform Commercial Code. Grades are based upon a final examination.

BANKRUPTCY AND SECURITY INTERESTS
(BANKRUPTCY LAW - 3010)
2 credits
This course will examine the effect of bankruptcy on the rights of creditors holding UCC Article 9 security interests in assets of a debtor. Topics will include the impact of the automatic stay on foreclosure rights; limitations on the post-petition effectiveness of security agreements; the estate's ability to use and sell collateral; the estate's ability to avoid security interests; and the treatment and modification of secured claims in bankruptcy. Pre-requisite for J.D. students: CREDITORS' RIGHTS or SECURED TRANSACTIONS.

BANKRUPTCY SALES
(BANKRUPTCY LAW - 5020)
(BUSINESS AND FINANCE LAW - 5070)
1 credit
This course examines the bankruptcy sale process. The course will cover the basic rules governing bankruptcy sales and will explore the motivations of the parties and creative uses of the sale process. Evaluation will be based on an examination, but class participation or a paper may be factored into the final grade. Pre-requisite for J.D. students: CREDITORS' RIGHTS or BUSINESS BANKRUPTCY REORGANIZATIONS.

BUSINESS BANKRUPTCY REORGANIZATIONS
(BANKRUPTCY LAW - 1080)
(BUSINESS AND FINANCE LAW - 5050)
2 credits
The course will examine the reorganization of financially distressed enterprises under Chapter 11 of the Bankruptcy Code and the theoretical and economic underpinnings of reorganization. The course will consider all aspects of Chapter 11 from filing to confirmation of a plan of reorganization, conversion or dismissal. The following topics will be covered: good faith; venue; retention and compensation of professionals; the extent of the court's equitable powers; use, sale and lease of the debtor's property; successor liability; post-petition financing. 

BUSINESS PLANNING
(BUSINESS AND FINANCE LAW - 1060)
3 credits
This course is designed to coordinate several areas of business-related law previously studied and to sensitize students to the constant practical interplay of these business-related areas of the law. Students will be assisted in verbalizing and drafting responses to the problems encountered by employing materials and documents which provide the framework for the practical application of previous legal training to commercial topics. Significant emphasis is placed on out-of-class drafting of and solutions to legal-business problems. Grades are based upon class performance and short written assignments. Pre-requisite: BUSINESS ORGANIZATIONS and TAX BASIC FED PERSONAL INCOME. This course satisfies the Advanced Practice Writing Requirement.

CONSUMER BANKRUPTCY
(BANKRUPTCY LAW - 1070)
(BUSINESS AND FINANCE LAW - 5020)
2 credits
This course will examine Chapter 7 and 13 of the Bankruptcy Code, including the principles of the fresh start and equality of distribution; the roles of the case trustee and United States Trustee; good faith and substantial abuse; the automatic stay; property of the estate; discharge, challenges to discharge and dischargeability; rights to convert and dismiss; and the preparation and presentation of contested matters and adversary proceedings. Grades are based upon a final examination. (The credit hours decision will be in advance each semester and clearly disclosed in the registration packet and schedule). 

CONSUMER PROTECTION
(INDIVIDUAL RIGHTS - 1020)
3 credits
This course explores the laws governing a variety of oppressive practices merchants engage in, including unfair and deceptive advertising, bait and switch transactions, and referral sales. The course also examines the law governing credit cards and other consumer credit transactions, including credit reporting, credit discrimination, abusive collection practices, and usury. Also covered are cooling off periods, debit cards, the cutting off of consumer claims and defenses, and how consumers can assert their rights. The course covers the Federal Trade Commission Act, the Consumer Credit Protection Act (including the Equal Credit Opportunity Act, the Fair Credit Reporting Act, the Fair Debt Collection Practices Act, the Electronic Fund Transfers Act, the Truth in Lending Act, and the Fair Credit Billing Act), the Magnuson-Moss Warranty Act, and various New York State statutes. Grades are based upon a final examination.

CORPORATE FINANCE
(BUSINESS AND FINANCE LAW - 2010)
3 credits
This course consists of a detailed study of legal, business, economic, corporate and accounting aspects of valuation of the firm and of securities, capital structure, issuance and reacquisition of various types of securities (including new financial instruments and financing techniques), dividend policy, interplay with financial markets, the use and legal regulation of commodity and financial futures, options and markets (subject to time), and related issues in contemporary corporate finance. The course culminates in a study of similar aspects and techniques of mergers and acquisitions. Grades are based upon a final examination. Pre-requisite: BUSINESS ORGANIZATIONS

CREDITORS' RIGHTS
(BUSINESS AND FINANCE LAW - 4080)
3 credits
This course deals with proceedings to enforce judgments, problems with respect to fraudulent conveyances, alternatives to bankruptcy, and a complete analysis of the Bankruptcy Code. Grades are based upon a final examination.

EXECUTORY CONTRACTS IN BUSINESS BANKRUPTCY
(BANKRUPTCY LAW - 5050)
(BUSINESS AND FINANCE LAW - 5040)
1 credit
This course examines the treatment of executory contracts in bankruptcy. The course will cover the basic rules governing assumption, rejection and assumption and assignment, and the course will explore the motivations of the parties. Evaluation will be based on an examination, but class participation may be factored into the final grade. Pre-requisite for J.D. students: CREDITORS' RIGHTS or BUSINESS BANKRUPTCY REORGANIZATIONS.

INSURANCE LAW
(BUSINESS AND FINANCE LAW - 2030)
2 credits
Insurance is a product that members of society purchase in order to distribute the risk of potential misfortune.  If it were not for the availability of insurance, a modern commercial society could not function.  Businesses unable to obtain insurance would be unwilling to produce many essential products. Without life and health insurance, families would be financially destroyed if a death or serious illness were to occur. This course studies the important legal and policy issues surrounding several different forms of insurance, including property, life, disability, health, commercial general liability, malpractice, and directors and officers liability insurance. Grades are based upon a final examination.

NEGOTIATION (INTENSIVE)
(ADVOCACY AND LEGAL SKILLS - 8020)
2 credits
The Intensive Negotiation course is a compressed, inter- active course examining the skills, constraints, and dynamics of the negotiation process. Students will explore the theoretical framework for understanding negotiation practice in a variety of contexts, including both the settlement of disputes and the creation of value through bargaining. Legal and ethical constraints on lawyers in negotiation will be considered. Students will apply the concepts learned by participating in simulated exercises involving realistic negotiation situations. Grades are based on a final examination, along with classroom participation, the submission of written work, and performance on the simulations and exercises. A student may take only one of the following: Negotiation, Negotiation (Intensive), or Negotiation (Comprehensive). This course satisfies the Applied Skills Requirement.

SECURED TRANSACTIONS
(BUSINESS AND FINANCE LAW - 2050)
3 credits
In a secured transaction, a borrower gives the lender rights in the borrower's personal property in the event that the loan is not repaid. This course provides broad coverage of the primary pertinent statute, Article 9 of the Uniform Commercial Code, but also gives attention to key related provisions of the Bankruptcy Code. Grades are based upon a final examination.

SECURITIES REGULATION
(BUSINESS AND FINANCE LAW - 2070)
3 credits
This course will focus on the Securities Act of 1933 and the Securities Exchange Act of 1934. With respect to the former, the course will particularly emphasize the public distribution process, registration, proxy regulation, regulation of tender offers and corporate repurchases, short-swing trading by corporate insiders and the anti-fraud provisions (including Rule 10B-5 and civil liability). The course will also examine the professional responsibilities of securities lawyers and other professionals and will touch upon regulation of securities exchanges and the over-the-counter market and regulation of brokers and dealers. Grades are based upon a final examination.
Pre-requisite: BUSINESS ORGANIZATIONS

SECURITIZATION, STRUCTURED FINANCE & CAPITAL MARKETS
(BANKRUPTCY LAW - 4010)
(BUSINESS AND FINANCE LAW - 5060)
2 credits
This course will examine the legal structure of securitization, a trillion-dollar industry. Securitization is the process by which a company sells its receivables (debts owed to it) to a special purpose entity (SPE) created specifically for that purpose. This form of financing can realize lower interest rates to the company selling the receivables than if the company borrowed against its receivables and kept title. The course will touch on various legal issues raised by this industry, including secured transactions, bankruptcy, corporate finance, securities regulation, corporate governance, and the role that legal opinions play throughout the deal process. The course will be graded based upon an inclass exam (80%) and class participation (20%). Pre-requisite for J.D. students: CREDITORS' RIGHTS or BUSINESS ORGANIZATIONS or SECURED TRANSACTIONS or BUSINESS BANKRUPTCY REORGANIZATIONS.

SMALL BUSINESS BANKRUPTCY
(BANKRUPTCY LAW - 4030)
(BUSINESS AND FINANCE LAW - 5090)
1 credit
This course will address and discuss the problems encountered by, and the possible solutions for small business entities (corporations, partnerships, and LLC's) in financial distress. In addition to facing all the same inherent problems that large businesses have in reorganizing and restructuring, small businesses face added burdens with regard to the inherent costs of successful reorganization and access to quality financial and legal advice. Likewise, small business creditors often look at huge write-offs that might be mitigated by a successful reorganization process. The goal is for the students to obtain a thorough understanding of the many issues involved in small business and agricultural bankruptcies. Evaluation will be based on an examination, but class participation maybe factored into the final grade. Pre-requisite for J.D. students: CREDITORS' RIGHTS or CONSUMER BANKRUPTCY or BUSINESS BANKRUPTCY REORGANIZATIONS.

TAX FEDERAL CORPORATE INCOME (TAXATION – 1020)
3 credits
This course applies the principles of federal income taxation to problems arising from use of the corporate form.  The tax consequences to the corporation and to the shareholders are considered.  Major topics covered in the course include the tax treatment of incorporations, dividends, stock redemptions, liquidations, mergers and other corporate reorganizations. Grades are based upon a final examination. Pre-requisite: TAX BASIC FEDERAL PERSONAL INCOME

TAXATION OF BUSINESS ENTITIES
(TAXATION - 1070)
3 credits
A comparative survey of the federal income taxation of partnerships/limited liability companies, Subchapter C corporations (i.e., taxable corporations) and Subchapter S corporations (i.e., nontaxable corporations) - the principal entity choices for conducting business in the United States. Coverage includes formations, operations, distributions, sales of interests and liquidations. This course is especially suitable for students seeking an introduction to this material for a business or real estate practice. Students desiring more detailed exposure to corporate tax principles may also enroll in Tax: Federal Corporate Income. Grades are based upon a final examination. Prerequisite: TAX BASIC FED PERSONAL INCOME

Designated Tobin Elective Courses:

Students may elect, subject to approval, a maximum of six credit hours of graduate level courses offered by the Peter J. Tobin College of Business. The following designated courses generally would be allowed as LL.M. electives. Students may take other M.B.A. courses with permission where the course is necessary in connection with the student’s particular area of study or contemplated area of expertise.

BUSINESS ANALYTICS
(DS - 602)
3 credits

CONSTRUCTION PROJECT MANAGEMENT
(MANAGEMENT - 610)

FINANCIAL MANAGEMENT
(FINANCE - 607)
3 credits

GLOBAL FINANCE & MANAGERIAL REPORTING
(ACCOUNTING - 602)
3 credits

INDUSTRIAL ECONOMICS
(ECONOMICS - 606)
3 credits

MANAGING FOR GLOBAL SUCCESS
(MANAGEMENT - 601)
3 credits

REAL ESTATE ACCOUNTING AND TAXATION
(ACCOUNTING - 673)

REAL ESTATE DEVELOPMENT
(FINANCE - 674)

REAL ESTATE FINANCE
(FINANCE - 671)

REAL ESTATE INVESTMENTS & CAPITAL MARKETS
(FINANCE - 673)

REAL ESTATE MANAGEMENT
(MANAGEMENT - 611)

REAL ESTATE VALUATION AND FEASIBILITY
(FINANCE - 672)

RISK MANAGEMENT
(RISK MANAGEMENT & INSURANCE - 601)

SEMINAR IN ENTREPRENEURSHIP
(MANAGEMENT - 640)

URBAN ECONOMICS
(ECONOMICS - 670)

 

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