At this time the owner is receiving inquiries as to Acme Fireworks ability to create fireworks displays on a regular basis. In this age of endless lawsuits and litigation from…. As awe-inspiring as such spectacles maybe. Words: 267 - Pages: 2. Acme Fireworks has been a sole proprietorship since it began two years ago. The owner is now considering changing the business entity, but he does not know what entity to form or how to form it.
Product liability laws cover consumer goods and goods used at a workplace. The price, consideration, was the bargained-for exchange. Academy Of Management Perspectives, 23 1 , 56-72. A corporation can have an unlimited number of owners, known as shareholders. Later, due to the separation, Mr. Recommend a new business entity, and provide rationale to support your recommendation. Explain why Acme Fireworks should not operate as a sole proprietorship.
Fireworks can even be a dangerous weapons in the hands of vandals. You are the manager of Acme Fireworks a fireworks retailer who sells fireworks puts on ground display fireworks and large aerial display fireworks. There are plenty of options for the company to go with but some might be more beneficial when it comes to thinking about long term. Since his business name was not his own name he had to fill out a Fictitious Name application. San Diego: Bridgepoint Education, Inc. Formed and Enforceable Contracts A.
No, there was not an offer. This type of employee would need an agreement in writing that sets out the length of the employment contract. The businesses were making inquiries, asking questions trying to find out what Acme Fireworks could handle. Must address the topic of the paper with critical thought. Analyze whether the owner formed a contract with the businesses, and apply the five essential elements of an enforceable contract.
Pricing of the firework displays was talked about, but that was just information given to answer question f the inquiry. Product liability laws cover consumer goods and goods used at a workplace. However, even under perfect circumstances improperly designed fireworks can often malfunction and cause severe harm. This means that if your business doesn't pay a supplier, defaults on a debt, or loses a lawsuit, the creditor can legally come after your house or other possessions. Discuss the different employment types and relationships relevant to agency law and analyze the advantages and disadvantages of each type specific to Acme Fireworks. It starts with finding out more about what law governs Acme fireworks, five essential elements of any contract, the live legal liability of the owner and company in regards to injuries, agency laws in regards to relationships, the advantages and disadvantages of those relationships and a change in the company type and reasoning for choosing style of company.
Fireworks displays are beautiful and exciting, but they are also very dangerous. A sole proprietor can be held personally liable for any business-related obligation. No, there was no acceptance. The owner has informed you that the company has received inquiries from several large businesses wondering if the company could create several fireworks displays on a regular basis. Next I will explain potential personal liability to Acme Fireworks if a spectator is injures by a stray firework from a fireworks display.
Acme Fireworks has to have the five elements of an enforceable contract with their customers to be able to have valid contracts, if offer, acceptance, consideration, legality and capacity are not present than a contract will not be valid. The company started as a sole proprietorship, and the owner has never changed the entity. Cost included labor, insurance, and setting off fireworks. Explain why Acme Fireworks should not operate as a sole proprietorship. To get the most out of a small business, a. As a sole proprietorship all liabilities for finances and operations are on the owner. It is an attempt to induce a proposal or offer.
Analyze whether or not the owner has any actual contracts. References Cornell University Law School n. No other details were discussed. This means that if your business doesn't pay a supplier, defaults on a debt, or loses a lawsuit, the creditor can legally come after your house or other possessions. Six feet under screams but no one seems to hear a thing Do you know that there's still a chance for you 'Cause there's a spark in you? Both producers and distributors can also face prosecution if they offer unsafe products for sale. In anticipation of increased business, the owner of Acme Fireworks is in need of some information.
Therefore, the Placer desired to claim the government for the payment. Shareholders can only remove profit from the Corporation according to their ownership percentage. Like a sole partnership, profits and losses of the business flow through the partners and are taxed at the individual rate. Or a limited liability company? If someone is injured by a defective product or suffers loss or damage to private As a sole-proprietorship it is easy for you, as an owner, to take money out of the business. The owner is now considering changing the business entity but he does not know what entity to form or how to form it. Instructions for the paper: You are the manager of Acme Fireworks, a fireworks retailer who sells fireworks, puts on ground display fireworks, and large aerial display fireworks. Recently the owner has advised me that he received inquiries from other large corporations wanting us to produce several more firework displays on a regular basis.
You are the manager of Acme Fireworks, a fireworks retailer who sells fireworks, puts on ground display fireworks, and large aerial display fireworks. He has called his best customers and asked them to make their usual January purchases by December 31. In this paper I will determine which contract the owner and the other business will need. Discuss the different employment types and relationships relevant to agency law and analyze the advantages and disadvantages of each type specific to Acme Fireworks. They would not have to give them any entitlements just work. He loved taking one insignificant firework and combining it with other insignificant fireworks, to create one amazing display. Possibly, they had an argue or what so ever misunderstanding and they seem to be hesitant to throw words.