McCain Foods Limited

losses of the corporation. Corporations pay a different tax rate then companies and individuals. A limited liability company (LLC) does not have stockholders, it is comprised of members that have an interest in the company but do not have any personal liability if the company were to be sued. A LLC must file an Articles of Organization with the Secretary of State in order to become a limited liability company. A sole proprietorship is a business that one person owns. They are personally…

Free Enterprise System Free enterprise is a system where the government has very few limitations on business activities and ownership. In this system this government has minimal ownership of an enterprise. The U.S. economic system of free enterprise operates according to five main parts: the freedom to choose our businesses, the right to private property, the profit motive, competition, and consumer sovereignty. In free enterprise you have a right to own and do all of the main parts the the…

Limited finance. Liability of Sole Proprietorship Sole Proprietorship is defined as an unlimited liability, legally, a sole proprietor is personally liable for all of the obligations of the company. Moreover, if anyone has a reason to prosecute your business…

Hayes was forced to pay for the van because promoters can be held liable for the contracts they made for corporations that are not yet created. This liability can only be lifted with a novation, which is an agreement between the corporation and the third party to release a promoter. Since no corporation was created, the novation process cannot occur and Hayes will be held liable for the contract. Hayes was forced to pay for the van because promoters can be held liable for the contracts they made…

RV Consignment versus RV Rental Meta: RV consignment companies versus an RV rental share company where you're in control. As an owner, you'll be able to make your own rules with an RV share company. RV Rental Consignment An RV trader can offer rental consignment agreements to RV owners who don't want to place their coach in storage. With a growing number of people buying an RV or wanting to experience the RV lifestyle, there are more and more families buying campers, trailers and…

Snow is described as being ‘atmospheric water vapour frozen into ice crystals’. It cannot be owned in the air and there is no law on ownership of snow when it hits the ground. This leads to the assumption that snow is res nullius and title can be acquired by occupatio. The test for this is taking possession of the thing, whilst having the intention of becoming the owner of said thing. Therefore, when Looby Loo uses the snow to make her snowman she fulfils the first part of the test, and she…

1.1 Explain the differences between the: A. Private Sector Sole Traders – This organisation type mainly relies on the business being owned by one individual. They handle all the financial risk in regards to operating the business for a return of profits. They have the responsibility of dealing with any losses the business makes and bills representing things that have been bought for the business. The normal things would be stock or equipment. Records will be kept for all sales and spending the…

businesses and then because it is a business itself. A sole trader is a held personal liable for his business borrowings and to any creditors if his business fails. He will also be held personally liable for any claims that are not covered by insurance. A limited company is registered at Companies House and is a separate legal entity. A company can have buildings, debts, and loans it has to pay back. It is not a person, so if a company goes bankrupt, directors are not responsible for it, no one…

The main types of business organisations in the UK private sector are sole traders, partnerships, private limited companies and public limited companies. These are set up in 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…

How to Restore a Business Relationship Gone Sour Initiating, developing and managing a strategic partnership can be an immensely challenging endeavor; one that most business owners are simply not prepared to engage. With all of the effort that has to be invested into building the ideal strategic alliance, it is of the utmost importance to manage it effectively. Due to the intricate details that go into selecting the right partner and nurturing the relationship, it is recommended that business…