Acme Fireworks is a small business that sells and displays fireworks in multiple aspects. Whether they are stationary, multi-use, or single use, Acme can do it all in regards to anything fireworks related. That being said, the owner has informed me that we have received multiple inquiries from various; large businesses asking if we (Acme Fireworks) could produce multiple firework displays on a regular basis and that he had already made an offer that they both mutually agreed upon. An offer must contain an unequivocal (clear, unambiguous) promise to enter into a contract, must have reasonably certain terms, and must be communicated by the promisor (the person making the promise) to the promisee (the person to whom the promise is made) (Rogers,
…show more content…
The owner’s business ventures could fall through at a later time frame. Especially if he were to maintain a sole proprietorship, that would have him liable for anything negative that happens within the business. As a manager of Acme Fireworks I am technically a compensated agent operating under the principle owner of Acme Fireworks. That being said, I suggested to the owner that we should make some changes with the business structure since the owner stated that he was worried about the possibility of the large orders of fireworks discontinuing at some point in time. Rightfully so due to not having any sort of time frame with this current contractual agreement between the two parties. Having a sole proprietorship has its positives, but it would behoove him to make the changeover from sole proprietorship to something more suiting such as a corporation. A corporation is a form of business organization that owes its existence to statutes in all states that provide guidelines for its creation and …show more content…
The UCC is an attempt to unify state laws affecting commerce into a single code that all states could adopt to make interstate commerce easier and more efficient. As a result of effort by some of this country’s leading legal experts, the UCC was enacted in whole or in part with only small changes by the legislatures of all states. While the UCC represents a significant effort toward a uniform national law, it should be remembered that there will still be variations from state to state, as different courts interpret the provisions of the statute. (Unit 3, Rogers,
The owner’s business ventures could fall through at a later time frame. Especially if he were to maintain a sole proprietorship, that would have him liable for anything negative that happens within the business. As a manager of Acme Fireworks I am technically a compensated agent operating under the principle owner of Acme Fireworks. That being said, I suggested to the owner that we should make some changes with the business structure since the owner stated that he was worried about the possibility of the large orders of fireworks discontinuing at some point in time. Rightfully so due to not having any sort of time frame with this current contractual agreement between the two parties. Having a sole proprietorship has its positives, but it would behoove him to make the changeover from sole proprietorship to something more suiting such as a corporation. A corporation is a form of business organization that owes its existence to statutes in all states that provide guidelines for its creation and …show more content…
The UCC is an attempt to unify state laws affecting commerce into a single code that all states could adopt to make interstate commerce easier and more efficient. As a result of effort by some of this country’s leading legal experts, the UCC was enacted in whole or in part with only small changes by the legislatures of all states. While the UCC represents a significant effort toward a uniform national law, it should be remembered that there will still be variations from state to state, as different courts interpret the provisions of the statute. (Unit 3, Rogers,