Entity

Edelweiss Tokio Life – Protection – Overview Edelweiss Tokio Life – Protection is a non-linked, non-participating, term insurance plan. This pure protection plan offers complete protection to the loved ones in the event of the demise of the life insured (primary breadwinner of the family). This cost friendly solution allows the family to realise their dreams and maintain the same lifestyle even in the absence of the life insured. It provides a lump sum amount to the nominee on the death of the…

Marketing has the 4 Ps which are product, price, placement and promotion. In the insurance industry, the products are the policy documents, the wordings of which are fixed and cannot be changed by any insurance company. Placement and promotion of the insurance products is almost same for all companies and thus the main aspect to be considered is price. Due to the cut throat competition and price being fixed and non-negotiable, the insurance companies then have two option in front of them, which…

In response to learning activity 1 question 1, I agree that Beta Corporation is the principal. It is clearly stated in the text that “under corporation law the officers and all employees are agents of the corporation” (Advanced Business law and the Legal Environment, 2014, pg. 1325). However, I do not agree with your evaluation of the employees as principals. Arnold, Carol, Dave, and Erin are all agents of Beta Corporation. However, I may be inclined to argue that Carol, Dave, and Erin are all…

Nevada Restaurant Association is a non-profit organization, which makes the accounting quite different from other organizations. To get the details and more specific information regarding the financial aspect of the organization, I interviewed my supervisor Scott Olson, who is a Director of Accounting and Administration in Nevada Restaurant Association. To cover the main aspects of accounting and finance of the company, I have divided my questions into three groups: reporting procedures, payroll…

A S-Corporation is a closely held corporation that makes an election to be taxed under Subchapter S. Generally, S-Corporation is pass-through entity, which means the corporation’s income and losses passes through to you and you must report those on your individual income tax returns. S-Corporation shareholder who is actively engaged in the business is owner/employee. As an employee, you receive compensations for your services and are only personally responsible for 7.65% social security and…

The Limited Partnership is a business form in which investors known as limited partners agree to share in the profits of a partnership without having a voice in partnership management. · Liability: General partners are seen as legally the same entity as the partnership. They are jointly and severally unlimitedly liable to their creditors. Creditor may go after the assets of partnership unit, and further may go after each individual general partner’s personal assets to satisfy a liability. A…

658 N.E.2d 1058, citing Crosby v. Beam (1989), 47 Ohio St.3d 105, 107, 548 N.E.2d 217. A corporation is a separate legal entity from its shareholders, even when there is but one shareholder. An attorney 's representation of a corporation does not make that attorney counsel to the corporate officers and directors as individuals. Because the corporation is a separate entity from its directors and officers, causes of action belonging to the corporation may not be litigated by the officers for…

Ethel Carew Tax Exemption Assignment #2 Due 3/16/15 The key to a mutually beneficial corporate sponsorship agreement is for both parties involve to enter into a written, legally enforceable agreement. One that will spell out the scope of the agreement in terms of fees, mutual expectations, ongoing oversight, follow-up procedures and procedure (s) for termination should any party default. Corporate sponsorship income is vigorously scrutinized by the IRS and a non- profit organization such as…

people together over delicious cupcakes and engaging in spreading the gospel and love of Jesus by means of cupcakes. The primary goal of this business entity will be to glorify God in all business transactions. This business will be located in the state of Virginia. II. Description and Explanation of Type of Business Entity The type of business entity, which would be best for Neverland Cupcakes to be operated as, would be a limited liability partnership. Firstly, an LLP would be the best option,…

veil is most often used as a tool to uphold statutory corporate formalities. It ensures that corporations are conducting mandatory meetings and are following proper statutory guidelines. It reinforces that shareholders are in fact held as a separate entity with the absence of conflict of interests. Second, piercing will also be used in order to remedy fraudulent misconduct, specifically “constructive fraud” that serves to disrupt the corporations’ legal contractual obligations…