Syntactic entities

During week one the class reviewed chapter one which discussed the corporation and its stakeholders. One matter that I found interesting was that I never knew that there were two types of firms. I always thought that there was just one type of firm and the only difference was what type of services or products they sold. From this reading, I learned that there are two different types of firms. The first type of firm is the ownership theory of the firm which states that the owner doesn’t care how…

In addition to insurers and producers being subject to criminal penalties, federal and state law provides for criminal sanctions against any person or business that engages in criminal misconduct dealing with insurance matters. Licensed Business Entity Regulation In the earlier chapter we made a distinction between different types of licensees- producers, business…

The above principles, among others, facilitated the separation of ownership and control. 1.1 Separate Legal Personality Legal personality refers to the general and abstract capacity of a certain entity to operate as a legal subject. It suggests that a company is to be treated as a separate legal entity with an independent existence…

business owners can still be liable for business activities if they failed to follow corporate guidelines, commingled assets or acted recklessly (eHow,2015). The courts typically do not look behind the veil of incorporation if there a separate legal entity. But in certain circumstances, the court is willing to ‘lift the veil of incorporation’. The courts will lift the veil of corporation where the justice of the case demands or if the veil has been misused, this mean that a people who is…

Khagendra Ghimirey Professor Tae-Hee Jo Intermediate Microeconomics 14th November 2017 Summary of an article “Continued Evolution of Corporate Power” by William M. Dugger A corporation is very different from other form of businesses like sole proprietorship, Partnership, or Limited Liability Company. For example, while other form of businesses have particular owner entitled to the company, corporations doesn’t have owners, rather it is formed by the shareholders. In other words, Corporation is…

There are three main business entities can choose to form in Malaysia which are Sole Proprietorship, Partnership and Limited and Unlimited Company. It is not so difficult to understand these types of entities and the owner can know which entities is more preferable to the owner. There are few steps in forming a sole proprietorship and a partnership entity. Firstly, determine the name of the organization which is unused by any business establishment or other entities. Register the business name…

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…

Jeb and Josh a business entity that might be appropriate would be a Partnership. A partnership is easy to form, and generally does not require an official or written agreement to establish it (Kubasek p. 772). This business entity is the relationship existing between two or more persons who co-own business for profit (Kubasek p. 772). Each person contributes money, and expects to share in the profits, losses of the business equally. Unfortunately, with this type of entity, Jeb and Josh would…

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…