Legal entities

There are many choices that must be made when setting up a business but the most important question is what type of business it will be. In today’s business world there are three types of businesses sole proprietorships, partnerships, and corporations. In this paper each type of business will be explained in detail by describing advantages, disadvantages, and examples of each type of business. The first form of business is the sole proprietorship. A sole proprietorship is a business that is…

The Franklin Business and Commerce Code §121 allows for an exception to the general rule of non-liability when a “party which acquires a manufacturing business and continues the output of its line previously manufactured or distributed by the entity from which the business was acquired.” If the Folke Corporation meets these two elements, then they can be held liable for Mr. Regan’s injuries. These two elements are: (1) “the virtual destruction of the plaintiff’s remedies against the original…

Starbucks does not have employees or associates, they have partners. That is the term of endearment used when discussing the individuals who work in their stores around the world. And the philosophy behind the moniker is that each partner contributes to the success of the company. Newly accepted partners complete 24 hours of indoctrination within the first two week of partnership. Areas covered during training sessions include covering the history of coffee history, drink preparation,…

2.1 Examine the Strategic Change and Needs for the Organization DFCC Bank Plc. (2016) is the only Licensed Commercial Bank in Sri Lanka to conduct all its operations under the principles of banking and the only bank in the country which is fully disengaged from interest based transactions and is one of the undisputed market leaders in the Sri Lankan banking industry (Morrison, 2010) This takes account of the centralized processing of transactions and a customer centric and performance driven…

Lord Sumption states that lifting the corporate veil is a convenient expression that the courts have granted rights to disregard separate legal personality of incorporation from its controllers (Lexis, 2013). With the increasingly adoption of the form of corporation, there may be some issues about the abuse of the principle (Dignam & Lowry, 2012). This essay will firstly explain part of the statements of Lord Sumption in Prest v Petrol and then providing arguments for and against them based on…

law when she denied a white person her bus seat. An example of ethics over legality is when Johnson & Johnson Co. went above and beyond legal measures when Tylenol capsules were compromised. In restaurants, however, ethics depend on employee relations, employee mishandlings, quality on food, and customer experiences. Simply put, just because something is legal does not always mean it is ethical. Ethics are more than just what the law…

Disclaimer: All characters and events depicted below are purely fictional. Any resemblance to a real person, living or dead is coincidental. However, this dialogue is a product placement for a real business enterprise. TARA-G Catering Services Characters: -STEVE OWOYOKUN, an undecisive maniac in his late 20s, easily agitated by unforeseen events, considers himself a scholastic democrat with high self-esteem and contemptuous gentility, most of all he relishes high-end delicacies. -MARK…

this sector so that they survive by making a profit, if a business doesn’t make a profit it won’t be able to succeed against its competitors in its market. Each different area of the uk private sector has different rules in which it must abide by for legal reasons. 1.0 Introduction This report will analyse the main types of business organisations in the UK private sector. Private sectors are the part of the economy that isn’t state controlled, they are ran by lots of individuals and companies.…

A. Business Entity Distinctions Business entities are chosen based on three criteria: liability, taxation, and recordkeeping. The first criterion (liability) focuses on how much debt an owner is personally liable for as well as how the debt ratio affects an owner’s ability to acquire capital. In his current election as a sole proprietorship, Mr. Jones is personally liable for all debts incurred while in operation. If Mr. Jones is unable to repay business debts; his personal assets can be seized…

EXECUTIVE SUMMARY The baker street dental practice is a private practice owned by Dr Samir Boulis. This practice is opened 24/7. It is based on Central London in Baker Street. This clinic offers all types of dentistry that people needs, such as emergency, general, cosmetic, specialists for all people. Because of the 24/7 this clinic is very flexible to the customers so that they have the large market share. Introduction In baker street dental clinic now they have doing marketing like they are…