Caan is absent because his wife was expecting their first child and the due date coincided with filming so Danny's character was written out temporarily,
Yes...they are first-year law students (in the US, law school is usually for 3 years). The 5 students who are working as interns at the professor's own law firm are learning a bit more by working for her, but even so, they're still not allowed to practice law and the academic content of the class isn't completely appropriate for any first-year student, intern or not.
I've read books where the past catches up to the present--sorta the same thing as the present catching up with future. Usually the chapters alternated so it got a bit confusing character-wise until you got used to the style.
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