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Business law Essays & Research Papers

Best Business law Essays

  • Business Law - 628 Words Case 1: In this case about 200 customers of Potter's business were not notified of the termination of the agency and Aker who had been a sales agent for Potter for twenty years was also fired along with the termination of the company. Typically when there is a termination of an agency or a agency relationship the agent no longer represents the principal (Potter). However, if an agency is terminated the principal is under a duty of notification of the termination of the agency to the third... 628 Words | 2 Pages
  • Business Law - 3136 Words HUTECH & OUM MBAOUM0512 INTAKE : MAY 2012 – OCTOBER SEMESTER 2012 STUDENT NAME: CHU THI HONG TUYEN ID No.: 2448481 BMLW5103 – BUSINESS LAW ASSIGNMENT Question 1 Discuss the enforceability of an agreement which lacks consideration. Using legal authorities (relevant statutes and cases) to support your discussion. Answer: A valid contract is an agreement made between two or more parties that creates rights and obligations that are enforced by law. What does the consideration mean? And what... 3,136 Words | 9 Pages
  • Business Law - 988 Words There are many laws in the world today that some may find are neither rational nor fair for all the parties involved in the situation. I have chosen two laws that I do not think are logical, these two are apparent authority and executory process. The first law I will be discussing is an agency this is the right one person has to execute business on behalf of another person or corporation. There are three important parties involved in an agency relationship; the agent (this is who can enter... 988 Words | 3 Pages
  • Business Law - 1984 Words Assignment Submission Form Module Name | Commercial and Company Law in Semester 2. | Name of Lecturer | Sheila McCarthy | | | Title of Assignment | Law CA Semester 2 -2013 | | | | | Campus | LIT Tipperary Thurles | Course | Bachelor Of Business Level 7 | Student ID(s) | P10011462 | Name of Student(s) | Martin G Lynch | Date | 13/03/13 | Word Count | 2004 | I declare that no element of this assignment has been plagiarised: Student Signature | | “An Agent is... 1,984 Words | 6 Pages
  • All Business law Essays

  • business law - 31649 Words  Text Reader Agency and Employment Law Dr. Jay-D Olivier INHOLLAND UNIVERSITY Diemen, Haarlem, Rotterdam Course Year 2010-2011 Term 5 Internal publication INHOLLAND University of Professional Education International Business Management Dr. Jay-D Olivier (BA Law, MA, D. Law, Ph.D) Contents Agency Law 3 Principal's Duties to the Agent... 31,649 Words | 92 Pages
  • Business Law Business Plan Business Law I January 31, 2013 Corporate Structure Assessments Part A: A sole proprietorship is a type of business entity that is owned and run by one individual and in which there is no legal distinction between the owner and the business. The owner receives all profits (subject to taxation specific to the business) and has unlimited responsibility for all losses and debts. The IRS does not consider the sole proprietorship as a separate business entity. The owner reports... 404 Words | 2 Pages
  • Legal Issues - Business Law Legal Issue A paper submitted in the course of Business Law BUS/415 University of Phoenix March 16, 2008 Introduction Agency Law in a Business Environment A principal is the party who employs another person to act on his or her behalf; an agent is a party who agrees to act on behalf of another. In order for the agent to successfully fulfill their tasks for their principal’s they have duties that they are expected to fulfill. The duty to obey instructions, to act with skill, loyalty,... 2,688 Words | 8 Pages
  • Importance of business law - 448 Words Importance of Business Law 1. To define Basic Setup of a business. Business law defines different types of business for setup, such as - Partnership, Proprietorship, Corporation (Private and Public), etc. Such definitions of types of business help clarify ownership of the business entities. 2. To define Regulations for Business Operations. There needs to be certain rules and regulations to carry on various timely operations in any business regardless of the type of business. For... 448 Words | 2 Pages
  • Business law Ch 4 The Legal Environment of Business Week Four Chapter Questions 17-3. Daniel is not liable for the debt Rubya defaulted on. The contract did not make Rubya a partner, even those she was given profit sharing and management responsibilities, she did not poses any ownership of the business. Also under UPA 202(c)(3) no presumption of partnership is made since the profits are wages of an employee or for the services of an independent contractor. Not to mention Daniel did not have any knowledge... 350 Words | 1 Page
  • Applied Business Law - 1 Contracts Tuwana Thompson Everest Online Bul 2131-44 Contracts Delilah, does not return with wood pulp, but brings back three contracts. Acting within the scope of her authority, she contracted with Evon, who knew your identity at the time; Felipe, who knew that Delilah was acting on behalf of someone but not whom; and Giorgio, who did not know that Delilah was acting on anyone’s behalf. For which contracts, if any, are you liable? For which contracts, if any, is Delilah liable?... 464 Words | 2 Pages
  • Questions on Business Law - 3197 Words QUESTION 1 (a) This Maksim nemo dat quod non habet state no one can give possession at something that he did not own. Apart from that too, it also meant if product bought from one who is not owner that is real or he never got truth from owner to sell, so buyer will not get title that is legal. This purpose maxim was to protect true owner product. Most of case that applicable with this maxim was case: Lim Chui Lai v Zeno Ltd (1946) 30 MLJ 314. In this case agreement was made between Zeno Ltd.... 3,197 Words | 11 Pages
  • Business law exam - 254 Words CFVG MBA 2011 Final Examination (1) – International Business Law Stephen MURDOCH There are 5 questions and each is worth 10 marks Total 50 marks and counts 50 % of your final mark for the course Please write so I can understand You are allowed any materials into the exam Use point form and short answer. No long paragraphs please You will be given higher marks for your opinions The examination will be marked in comparison to your other class members, so please use your imaginations... 254 Words | 2 Pages
  • Legal Underpinnings of Business Law Legal Underpinnings of Business Law OMM 670: Legal Environment February 25, 2013 Legal Underpinnings of Business Law Business | Type of Business | Liability Exposure | Compare | Contrast | Tinker’s Home Security Service | Sole proprietorship | Unlimited | Monetary rewards are from both the Proprietor & business | Sole Liability | Tinker & Tailor’s Home Security Service | General partnership | Unlimited | All partners are responsible whether silent or active | If you... 612 Words | 2 Pages
  • Business Law 531 - 1244 Words Legal Forms of Business James McCeavey Business Law 5331 October 22, 2012 Richard Simon Legal Forms of Business This paper will cover the different forms of business and who would benefit from that type of business. The types of business discussed will be sole proprietorship, partnership, limited liability partnership, Limited Liability Company (LLC), S corporation, franchise, and corporate form. Justification will be given why the type of company would benefit from each form of... 1,244 Words | 4 Pages
  • BUSINESS LAW AGENCY - 2617 Words USIU BUS 3010 BUSINESS LAW LAW AGENCY NOTES AGENCY LAW The law of agency in Kenya is basically that of the English Common Law. It deals with the relationships that arise when one person, the agent, is used by another, the principal, to perform certain tasks on his behalf. CREATION OF THE AGENCY RELATIONSHIP Agency may be created in four ways namely, i. By contract ii. By Ratification iii. By Estoppel iv. By operation of the law Agency by Contract This may either be by express... 2,617 Words | 8 Pages
  • Case Study for business law Case 1 1. Describe the different categories of agent in terms of their ability to contract. An agent is a person (which can include an entity, like a corporation, partnership, or LLC) who acts on behalf of and subject to the control of another by authority from him. The category of agent can affect their liability to any claims and the two main categories of agent: General agent: a general agent is an agent authorized by the principal to conduct a series of transactions involving... 3,424 Words | 9 Pages
  • Law 531 Business Forms Worksheet University of Phoenix Material Business Forms Worksheet There are seven forms of business: sole proprietorship, partnership, limited liability partnership, limited liability company (including the single member LLC), S Corporation, Franchise, and Corporation. 1. Research and provide three advantages and three disadvantages for each business form. 2. Provide a 100- to 200-word summary in which you provide an example business that you would start for each form. What is legally necessary to... 1,400 Words | 8 Pages
  • Business Law Chapter 31 Notes Chapter 31: Agency Formation and Duties • Agency – a relationship between two parties in which one party (the agent) agrees to represent or act for the other party (the principal) Section 1: Agency Relationships • The Restatement (Second) or Agency (an authoritative summary of the law of agency) defines agencies as fiduciary relationships • Fiduciary – (adj) involving trust and confidence • Agency relationships commonly exist between employers and employees • Agency relationships can... 1,489 Words | 6 Pages
  • Business Consumer Law Study Guide Law Midterm Chapter 13- The Agency Relationship (Pg. 297) • Agency: a relationship that exists when one party represents another party in the formation of legal relations Pg. 298 • Agent: a person who is authorized to act on behalf of another • Principle: a person who has permitted another to act on her behalf • Agency is a common relationship as is shown in the following examples: o A sports agent negotiates a multimillion-dollar deal on behalf of a hockey... 17,431 Words | 64 Pages
  • LAW 575 Week 2 Business Organization And ADR Business Organization and ADR Business Rrganization and ADR Nicole Christopher LAW575 Week 2 Professor Sonja Dickens June 8, 2015 Summary             Industry Outline Selections for Practices of Business Company Process Choice Aids Disadvantages What is ADR? ADR Approaches of Arguments Resolution Negotiation Why Negotiation? Proceedings Implication Industry Outline Machinery Resolutions       Maintained and controlled by a individual Association Computer Purposes... 397 Words | 8 Pages
  • Law of Agency - 2281 Words TOPIC THREE: LAW OF AGENCY * Nature and Creation of an Agent * Duties of an Agent to his Principal * Duties of a Principal to his Agent * Termination of Agency Contract NATURE OF AGENCY What is an agency? Section 135 of Contract Act 1950: “Agency is the relationship which subsists between the principal and the agent who has been authorized to act for him or represent him in dealings with others.” There are two types of agency contracts:- 1. Contract between... 2,281 Words | 8 Pages
  • Law & Practice - 2128 Words Introduction In this topic, we will try to find out about insolvent trading and how it is happened and while Company becomes insolvent what are the duties for directors in order to save unsecured creditors. We will also find out how directors become liable for their action in regard to insolvent trading and if they breach any law for insolvent trading what are the consequences they have to suffer and also law has given some defences for insolvent trading for directors in order to avoid... 2,128 Words | 6 Pages
  • Law Question - 1113 Words [pic] UNIVERSITI TEKNOLOGI MARA DEPARTMENT OF LAW TEST 1 COURSE : BUSINESS LAW COURSE CODE : LAW 416 DATE : 17 OCTOBER 2012 (WEDNESDAY) TIME : 1 ½ HOURS INSTRUCTIONS TO CANDIDATES 1. This question paper consists of THREE QUESTIONS: Answer TWO (2) questions only (1 Question x 25 Marks = 25 Marks) 2. Do not bring any notes or reading material into the test hall. If you have ‘accidentally’ done so, please surrender the... 1,113 Words | 7 Pages
  • Contract Law - 384 Words Law of Agency – the Contracts Act 1950 Great Northern Railway Co v Swaffield states that where impossible to get principal’s instructions, the agent’s action is necessary to prevent loss and the agent has acted in good faith, an agency of necessity arises. The Contracts Act 1950 states that an agent has to obey principal’s instructions. The Contracts Act 1950 states that an agent has to be careful, diligent and use any skill that he may... 384 Words | 2 Pages
  • Mcq Law - 1362 Words SAMPLE MULTIPLE CHOICE QUESTIONS QUESTIONS 1-3 Tricky, Esthero, and Macy decide to go into business together to promote new recording artists of alternative music genres, calling the business “Alternative Universe.” Assume for purposes of the following questions only, that they have chosen to operate the business as a general partnership, and that the partnership is formed in a jurisdiction that has adopted the Uniform Partnership Act (UPA). Tricky invested $1,000, Macy invested... 1,362 Words | 7 Pages
  • Agency Law - 613 Words This case comes under Law of Agency. Agency Law is concerned with any “principal, agent and third party” relationship; a relationship in which one person has legal authority to act for another. Agency involves three parties : • Principal – Mr. Smithfield • Agent – U.K. Rail • Third Party – Pig resort/Care Centre Agency relationship may arise in five ways and one them which arise in this case is “Agency Of Necessity” and the requirements are : • Genuine necessity – there was a delay in... 613 Words | 2 Pages
  • Business Organization - 623 Words Vanessa Lefler Bus 210 Week 2 Checkpoint A friend of mine and I are going to try and open a business doing accounting and bookkeeping but are having a hard time choosing if the form of business organization we will operate as will be joint stock, limited liability, partnership, or a sole proprietorship. A joint-stock company is where business owners raise capital by issuing stock certificates of its ownership. This means selling stock to investors that guarantee them a certain... 623 Words | 4 Pages
  • Business Organization - 659 Words  Business Organization Gerald Johnson BUS 311 Business Law I Leah Westerman January 19, 2015 Opening a business has many different parts form type, to formation and taxation. If I were to start a business it would be a sole proprietorship. My main reason behind this choice is because I would want full control of my own creation or business. The business would be my personal income, so any amount I make would be claimed on a personal income tax so the profits or losses would be... 659 Words | 3 Pages
  • Business Association - 44651 Words BUSINESS ASSOCIATIONS OUTLINE I. Overview A. Major Course Themes i. Authority – what is corporation legally empowered to do and at what point is a corporation overstepping its bounds? ii. Responsibility – once authority has been established, what are the limitations of that authority – what is the duty of care? iii. Liability – what actions should directors take to insulate themselves and when can they be held liable for breaching duty... 44,651 Words | 130 Pages
  • Types of Business - 671 Words Sole Proprietorship When entrepreneurs set out to start a business venture, many of them start with a sole proprietorship. A sole proprietorship usually involves a single person who runs a business on his or her own. Sole proprietorships are small businesses that often take off to form larger business entities when the owner desires to do so or when the right opportunities are presented. Some of the disadvantages of having a sole proprietorship are the simplicity of operating the business,... 671 Words | 2 Pages
  • Business Structures - 595 Words Business Structures Fin/571 June 15, 2013 Business Structures If someone wants to start a business, that person would have to decide which structure he or she would want to use. To know what kind of structure he or she has to know what kind of business he or she is trying to run and who will run it with him or her. Structures range from sole proprietorships and partnerships to corporations. When companies first start up, they consider sole proprietorships or partnerships, but as... 595 Words | 2 Pages
  • Business Entities - 1293 Words  Business Entities Jessica Perez BUS 311 Business Law Instructor: Janet Fiorentino 12/1/2014 As the manager of Acme Fireworks, I need to gather information to help the owner determine whether or not he should continue to be a sole proprietorship or if he should switch to another business entity. I will help him do so by explaining each entity and how they relate to his business situation. I am the manager of Acme Fireworks, a fireworks retailer who sells fireworks, puts on ground... 1,293 Words | 4 Pages
  • P1 business - 738 Words Unit P1 Assignment To; Mr Keith Spearing, Managing Director of Spearing & Sons Ltd From; Katie Hodge Date; 19th September 2013 Terms of reference; Mr White Deadline date; 27th September Procedure; Introduction; Organisations come in many different sizes, sectors, ownership and scale. The size of the business depends how many employees there are. For example they’re categorised into micro, small, medium and large. Micro organisations have a maximum of 9 employees, small... 738 Words | 2 Pages
  • business ownership - 719 Words BUSINESS OWNERSHIP Compare forms of business ownership. Three basic forms of business ownership Sole proprietorship Partnership Corporation Sole proprietorship A business owned and operated by one... 719 Words | 5 Pages
  • Starting a Business - 1997 Words Starting and Naming a Business Discussion Board 4 Case Study Dial S. Johnson Liberty University October 10, 2014 Introduction Betty Wilson is contemplating opening a Christian coffeehouse in North Carolina and as part of this process, she must make several important decisions before starting and naming her business. This paper will address the options confronting Betty by analyzing the various business forms available, selecting partners and assigning roles, determining whether or... 1,997 Words | 6 Pages
  • Business Structures - 528 Words  Business Structures Hazel Figueroa Fraticelli University of Phoenix FIN/571 February 25, 2015 Prof. Erick Ramos Business Structures Paper For this work, I will be describing the different business structures offered by the website of UOP. After watching the videos offered on this website, one has noticed that there are different types of business structures. Although each of them differs from each other giving options to people... 528 Words | 2 Pages
  • BUSINESS STRUCTURES - 835 Words  Business Structures Glenn Wilson Boerstler, II FIN/571 Corporate Finance August 18, 2014 Professor Susanne Elliot A business can be organized in one of several ways, and the form its owners choose will affect the company’s’ and owners' legal liability and income tax treatment. Business structures are selected based on the type of business and the intentions of the owner or owners. According to the Small Business Administration, there are six types of business structures that are based on... 835 Words | 3 Pages
  • Business Structure - 623 Words When beginning a business, it is extremely important that the owners of the business decide the organizational form that will be beneficial to maximize the value of the firm. The owners must consider the size of the business, the taxation of the business, the liability of the owners and the ability to raise capital to finance the business (Parrino, Kidwell & Bates, 2012). The owners will then choose one of the 3 different forms: sole proprietorship, partnership or corporation. Sole... 623 Words | 3 Pages
  • Business Structures - 773 Words  Business Structures Ruth Whitehead FIN/571 February 23, 2015 Oscar Lewis Business Structures Three types of business structures exist; Partnership, Sole Proprietorship, and Corporation. Essential deliberations are dimensions of the commercial, the method in which revenue from the trade is a tax, the lawful obligation of the proprietors, and the capability to obtain monies to fund the business. Few businesses start-up as a large capacity organization. All business structures have... 773 Words | 3 Pages
  • Business Report - 362 Words Business speech Today i will be speaking about the business i have discovered The business name i have chosen is tapcomp. John has established his own mobile computer and software business. It all started 18 years ago and it started from scratch. It began because he was an employee of a similar business and decided to start his own company, taking control of all decisions related to the business key functions, management, operation, human resource management and accounting. John is an... 362 Words | 2 Pages
  • Business Organization - 376 Words Faculty of Business and Environmental Studies T1/13 Coursework Assignment Diploma in Engineering Business Management Module: 102KM Business Organization Assignment Title: Types of Business Organizations Date & Time of Submission : Week 10 (22:00) Assignment Weighting : 50% Word Limit : 3000 words Description of Assignment This is an individual assignment and carries 50% of the module weightage. A business can have a number of different types... 376 Words | 3 Pages
  • Startin a Business - 811 Words WHAT’S TO BE CONSIDERED WHEN STARTING YOUR BUSINESS 1 What need to be considered when starting your own business? Tracey Thomas American Inter-Continental University WHAT’S TO BE CONSIDERED WHEN STARTING YOUR BUSINESS 2 Abstract While studying all of the legal perspectives of business and looking at exactly how... 811 Words | 3 Pages
  • Nature of a Business - 604 Words Business Studies PART 1 A) Social Function of a business: [Choice] Businesses provides goods and services to satisfy individual needs and wants by giving the choice of selecting something among a variety of products. Economic Function of a business: [Employment] By creating or providing employment for individuals this minimises the unemployment rate. B) Unincorporated enterprises is when the enterprise has NOT gone through the process of not separating the owner from its... 604 Words | 3 Pages
  • Business Organization - 481 Words There are many types of business organizations in the business world. Choosing the form of business organization is a key factor to success of any business organization. There are essentially three basic ways to set up a privately owned enterprise: a sole proprietorship, a partnership, and a corporation. Each form of business organization has its advantages and disadvantages. Sole proprietorship: a business that is owned by one person. Advantages of a Sole Proprietorship > A sole... 481 Words | 2 Pages
  • Business Organization - 306 Words bus * * Checkpoint: Business Organization * Robert Surls In 2005 my aunt left me an inheritance. It was a large sum of money. There was a stipulation to receiving this gift. I needed to invest in a company of my choice. My last employer was a cleaning company and I approached my old employer with a proposition. I and another business partner that I convinced in investing with me would organize a joint-stock company. This was to be a private partnership, as well as a limited... 306 Words | 1 Page
  • Business Organization - 630 Words Business Organization I’m going to tell you what an organization is, describe the structure of an organization, define different types and forms of business organization, to tell you about such things as sole proprietorship, partnership and corporation. Early in human existence people learned that their individual efforts often fell short of success. They found that they were unable to accomplish many tasks that require more than individual effort. So, the necessity of group activity appeared... 630 Words | 2 Pages
  • Business License - 845 Words Business License city Required for any person or entity doing business or carrying on a trade within the city limits. agency note: Additional information for Home-Based Businesses can be obtained from the City of Ontario's website ( applies to: Other Services to Buildings and Dwellings, General Business Information City of Ontario Finance Department Business Licenses 303 East 'B' Street Ontario, CA, 91762... 845 Words | 7 Pages
  • Business Organizations - 1778 Words The Differences of Business Organizations Michael Lilly Western Governors University Sole Proprietorship: This type of business organization is owned by one person. This person is the manager and makes all decisions regarding day to day operations. Any money earned is considered income of the sole proprietor. Any debt incurred by the business also falls on the shoulders of the proprietor. Some advantages of a sole proprietorship are that the formation of this type of company fairly easy... 1,778 Words | 6 Pages
  • business organization - 400 Words  Business Organization MD BUS/210 August 19, 2012 Colette Franklin Business Organization I have a one of a kind product that I want to put out into the global market but I do not have the money it takes to put this product to the level it needs to be. I could be the sole proprietorship, where I have a nonincorporated business entirely owned by one person but I may need investors to perform this task. The profits I have acquired have exceeded expectations and I am currently on... 400 Words | 2 Pages
  • Business Organization - 310 Words  In a joint stock company, each member has shares in the business depending on the amount of capital contributed. For example a company with $100, 000 can be formed by 5 members who has contributed equally to the capital. Every member will get 20% of the shares. The company has a separate identity and files its own tax return and each shareholder files their individual personal tax return If the company has a tax liability of say $10000 then the individual shareholders cannot be made liable... 310 Words | 1 Page
  • Kinds of Business - 624 Words De Gula, Shiela Mae BSBA-HRDM 1-6D 3 kinds of business 1 Sole Proprietorship A sole proprietorship places all liabilities for finances and operations on the owner. The owner's personal property is tied to the business, so he assumes a risk against his personal assets should the business experience financial hardship. Annual income tax returns are filed on a Form 1040, and the owner must also file self-employment taxes. The profits and losses of the business are reported through the... 624 Words | 3 Pages
  • Creating a Business Idea and Types of Business Organizations Small-Business Idea Recently the United States government has released funds for creating small businesses. An opportunity to acquire government funding for a business venture is one to take advantage of and to put dreams into reality. The intent of this paper is to outline the three main forms of business organizations including the tax and legal implications as well as the accounting requirements for each structure. In addition, this paper proposes creating a small business of a women’s only... 1,541 Words | 4 Pages
  • Laws and Contracts Lesson 29 LAW AND CONTRACTS 1.Eagle Stores, Inc. borrows $5,000 each from EZ Loan Corporation, First National Bank, and Great Products Corporation. Eagle uses its "present inventory and any thereafter acquired" to secure the loans from EZ Loan and First National. EZ Loan perfects its interest on April 1, followed by First National on April 5. Eagle buys new inventory on April 10 from Great Products and signs a security agreement, giving Great Products a purchase-money security interest (PMSI) in the... 1,963 Words | 6 Pages
  • Commercial Law - Agency Contract Question 1. Outline and describe the ways in which an Agency Contract may be established. Agency According to Nicole Busby, an agency is a contractual relationships that entitles one party to act on behalf, or in favour of, the other party in contractual arrangements with a third party. In this regardthese circumstances, the former is known as an “agent” and the entity on whose behalf the agent performs is called a “principal”. Generally, the agency relationships arises in commercial... 1,846 Words | 5 Pages
  • Agency Law Notes - 3597 Words Agency (1) AGENCY RELATIONSHIP? (2) AUTHORITY? Agency is an agreement, express or implied, by which the principal entrusts to the agent, the management of the business; to be transacted in his name, or on his account, and by which the agent assumes to do the business and to render an account of it. Agency involves: Principal, who passes authority to Agent to effect the legal relations between the principal Third party, acted with principal through the agent Section 135 CA (Definition of... 3,597 Words | 12 Pages
  • Business Environment Assignment. Understanding the Organisational Purpose of Business In this assignment I will try in learning outcome 1.1 to identify the objectives of different types of organisations and in outcome 1.2 demonstrate the level to which a business organisation meets the goals of different stakeholders and finally in the outcome 1.3 explain the responsibilities of an organisation and tactics used to achieve them. I am also going to give examples based on my own personal experience. Lo1.1 Identify the purposes of different types of organisation Business... 547 Words | 2 Pages
  • Legal Underpinning of Law - 1937 Words Legal Underpinnings of Business Law Valarie Murphy-Taylor BUS 670 Marla Muse June 09, 2014 Abstract The aim of this paper is to discuss business structure and organization and how liability differs between each organizational form. Society has set standards that govern our interactions with others. In addition, though not often obvious to the naked eye, most businesses have standards that similar to one another in governing their activities and abilities to function... 1,937 Words | 6 Pages
  • Business Case Study - Types of Business Organizations Case Studies – Types of Business Organization (Ownership) Case 2: Joseph LeBlanc, a student looking for summer employment, opened a bait shop in a small shed on a local fishing dock. For this case, I think the type of business here is Sole Proprietorship. Joseph LeBlanc a student looking for a summer employment and decides to open his own bait shop is a very big responsibility. If his business is Sole Proprietorship, it will benefit him in a lot of ways. He will be the boss of himself, which... 487 Words | 2 Pages
  • Business Essay Topic: Forms of Business Organizations Business Essay Topic: Forms of Business Organizations It is important that the business owner seriously considers the different forms of business organization — types such as sole proprietorship, partnership, and corporation. Which organizational form is most appropriate can be influenced by tax issues, legal issues, financial concerns, and personal concerns. This essay explains the general impression of business organizations. A Sole Proprietorship, also known as the sole trader or... 943 Words | 3 Pages
  • case digest for corporation law National Coal Co. v. CIR Facts: The National Coal Co.(NCC) was created by a special law and was enacted by virtue of Act 2705 in order to develop a coal industry. It was engaged in coal mining on reserved lands belonging to the government. The National Coal Co.(NCC) filed a case against the CIR for the recovery of sum of money it paid on protest as specific tax on 24,089 tons of coals claiming exemption to tax pursuant to Sec. 14 and 15 of Act 2719. Issue: Whether or not NCC is a private... 9,125 Words | 26 Pages
  • Employment Law Compliance Plan University of Phoenix Material Business Forms Worksheet There are seven forms of business: sole proprietorship, partnership, limited liability partnership, limited liability company (including the single member LLC), S Corporation, Franchise, and Corporation. 1. Research and provide three advantages and three disadvantages for each business form. 2. Provide a 100- to 200-word summary in which you provide an example business that you would start for each form. What is legally necessary... 1,314 Words | 5 Pages
  • A Brief Introduction to Commercial Law EXECUTIVE SUMMARY According to Wikipedia, “Commercial law (sometimes known as business law) is the body of law which governs business and commerce. It is often considered to be a branch of civil law and deals both with issues of private law and public law. Commercial law regulates corporate contracts, hiring practices, and the manufacture and sales of consumer goods.” The Law is a system of rules usually enforced through a set of institutions. It affects politics, economics and society in... 5,110 Words | 18 Pages
  • Types of Business in America - 427 Words Types of Businesses in America American society has always been optimistic towards their future. The American nation is a capitalistic country. Many individuals are influenced to start up their own businesses with their own ideas. The government helps and regulates all business. There are three types of businesses sole proprietorships, partnerships and corporations. A sole proprietorship would be my best choice to start up my own business. This form of business is the easiest to start. In... 427 Words | 2 Pages
  • Business Forms and Attributes - 3347 Words 1 Forms of Business Organizations and Their Attributes 2 Forms of Business Organizations And Their Attributes Sole Proprietorship A sole proprietorship is the easiest business organization to form because ownership consist of a single individual. The sole proprietor has ultimate control over the focus and direction of the entire business. This feature sets the sole proprietorship apart from all other business organizations. The advantages of a sole proprietorship are that the only... 3,347 Words | 11 Pages
  • An Assignment on Business Ownership - 1153 Words July 4, 2011 An assignment on Business Ownership Ba-1105: Introduction to Business Business Administration Discipline, Khulna University Among a few types of Business Ownerships Sole-Proprietorship, Partnership and Corporation Business will be discussed below. * Sole-Proprietorship * This is the most oldest and common form of business ownership. It is a individually operated organization. * The sole proprietorship is the form of business... 1,153 Words | 6 Pages
  • Types of Business Ownership - 1058 Words 1. Sole Proprietorship Single proprietorship is the simplest form of organization in most of the countries in the world. Unlike other forms of entity, it is usually not governed by special laws. A proprietorship is a type of business entity which legally has no separate existence from its owner. Hence, the limitations of liability enjoyed by a corporation and limited liability partnerships do not apply to sole proprietors. All debts of the business are debts of the owner. The single proprietor... 1,058 Words | 4 Pages
  • Selecting a Form of Business Ownership Selecting A Form of Business Ownership Outline Introduction A. The Learning Goals of this chapter are to: 1. Describe the advantages and disadvantages of a sole proprietorship. 2. Describe the advantages and disadvantages of a partnership. 3. Desribe the advantages and disadvantages of a corporation. 4. Explain how the potential return and risk of a business are affected by its form of ownership. 5. Describe methods of owning existing businesses. B. One of the most important... 2,502 Words | 7 Pages
  • The Invention and Business Organization Forms The Invention and Business Organization Forms Lorraine Smalls and Editorial Broad, 2011 American InterContinental University ABSTRACT Lorraine said that invention has been the growth of technology over the years. The simplest ideas she believes have made life easier for people all over the world. Lorraine stated that many inventions have started within a person home just messing around with a thought of something he or she would love to have patent. Lorraine’s invention thought pertains... 924 Words | 3 Pages
  • Legal Aspect of Business - 1330 Words Legal Aspects of a Business Subjecc: Princples of Business Introduction When starting up a new business it is very important to look at the legal aspects which will influence the company in the future. In this part of the information file there will be the most important legal aspects for running a student company. First there is the selection of business form, in which there will be a compairison between the different possible forms. Afterwards a... 1,330 Words | 5 Pages
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