In this paper, we study a coupled dynamic system describing nematic liquid
crystal flows. The system was motivated by the Ericksen-Leslie equations mo
deling the flow of nematic liquid crystals. The purpose of studying the sim
plified system is to understand the flow properties of more complicated mat
erials, the material configurations, as well as the interactions between th
em. Unlike in the previous studies where the Dirichlet boundary conditions
are prescribed, we consider here the free-slip boundary conditions which po
ssess a number of distinct advantages. The results in this paper form the a
nalytical background for the forthcoming numerical simulations of the syste
m.