How Do Business Relationships Can Affect The Business Entity?

1739 Words Nov 17th, 2015 null Page
Businesses often establish relationships with other companies, this is networking which creates profits and sometimes emerges, and this action is supported by a contract. According to our text entitled Essentials of Business Law, It defines contracts as a binding an agreement most of all contracts are enforceable by law. A contract is started by two different agents who are both required to fulfill duties in agreement with the contract.
A contract is described as a report showing agreement to any business trade, it is done orally but the written contract is upheld by law. Contracts create a plan and a guide for responsibility for both parties to up hold. Business relationships can affect the business entity. This business venture will explain how a contract can change the format of a business, it also highlight changes that ACME will undergo.
While appointed as a manager of retail manufacture firm I am supervising 15 employees, and respond to orders, the company is described as a sole proprietor, however recently there has been a new business proposal from other companies that want us to produce more products. A contract was created to allow both agents to fulfill these requirements.

As,a manager, we may have to change the business entity. Due to the demand of our fireworks, inquiries from several large businesses wondering if the company could create several fireworks displays on a regular basis, as a result steps must be taken to ensure this venture as a success.…

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