Legal Underpinning of Law - 1922 Words

Legal Underpinnings of Business Law Valarie Murphy-Taylor BUS 670 Marla Muse June 09, 2014 Abstract The aim of this paper is to discuss business structure and organization and how liability differs between each organizational form. Society has set standards that govern our interactions with others. In addition, though not often obvious to the naked eye, most businesses have standards that similar to one another in governing their activities and abilities to function continually. The state of origin joined with the type, scope, and form of business ultimately defines the standards by which a business will abide by. Looking at the various levels of responsibility dispersed to proprietors and partnerships aids in laying†¦show more content†¦For example, Tinker’s Home Security Service was set-up as a sole proprietorship. A sole proprietorship is the simplest and least expensive form of a business an individual can create. â€Å"The process only requires creating a business name, obtaining a license from the city or county, publicizing the business name in a local newsp aper, and opening door.† (Strauss S., 2012) In other words, it is pretty simple and not expensive at all to attain. The chief concern, however, is that the owner and the business are one and the same. In other words, the owner is held personal liable when something either goes wrong at the business or the business is sued. This is due to the fact that Tinker’s Home Security Service was established as a sole proprietorship, meaning the owner and his personal effects (an automobile, home residence, and investments) could be seized as collateral to cover any compensatory damages that have resulted from any lawsuits. Tinker Tailor’s Home Security Service General and Limited Partnerships Business leaders who have knowledge of business law generally are in a better position to protect the rights of the organization for staff and the owners. For example, Tinker Tailor’s Home Security Service, is a business established as a general partnership. A generalShow MoreRelatedLegal Underpinnings Of Business Law1317 Words   |  6 Pages Legal Underpinnings of Business Law Shalanda Burgess Bus670: Legal Environment Instructor Gary Gentry September 14, 2014 â€Æ' Introduction In this paper I will measure how liability exposure differs amongst each business level when business owners and leaders are face with litigation. Tinkers Home Security Service business is being sued by a former client due to a breach of contract. Business Forms According to Seaquist (2012) the most common forms of businesses are Sole proprietorships, PartnershipsRead MoreLegal Underpinnings of Business Law Essay609 Words   |  3 PagesLegal Underpinnings of Business Law OMM 670: Legal Environment February 25, 2013 Legal Underpinnings of Business Law Business | Type of Business | Liability Exposure | Compare | Contrast | Tinker’s Home Security Service | Sole proprietorship | Unlimited | Monetary rewards are from both the Proprietor amp; business | Sole Liability | Tinker amp; Tailor’s Home Security Service | General partnership | Unlimited | All partners are responsible whether silent or active | If you areRead MoreArticle Analysis : The Earth s Natural Resources 1144 Words   |  5 PagesJurisprudence theory, also known as wild law. She argues that the underpinning problem surrounding ecological destruction and unsustainability is linked back to the fundamental concept of anthropocentrism , whereby, we humans believe that we are above or separate from the natural world. Additionally, it follows that the natural world is ‘our property’ and it exists solely for our benefit. Maloney affectively argues that according to Earth Jurisprudence, this underpinning societal concept is incorrect andRead MoreLegal Memorandum911 Words   |  4 PagesThis document presents a framework for developing a legal memorandum concerned with the themes that need to be considered in the company’s decision to expand to Mexico. Ther e are several legal and ethical areas pertinent to doing business internationally in Mexico. They derive from aspects of both the American and Mexican legal environments as outlined herein. I. Domestic Law A. The FCPA 1. The Foreign Corrupt Practices Act (FCPA) governs the conduct of business operations and activities by AmericanRead MoreEssay about BUS670 Week 1 Assigment1367 Words   |  6 Pagesï » ¿ Legal Underpinnings of Business Law Mia A. Rapier BUS 670: Legal Environment Instructor Leah Westerman November 16, 2014 â€Å"Liabilities are debts: money you owe. Every business carries some liabilities—for example, ongoing payments to suppliers, rent for your office, compensation to employees, or fees for contractors† (Mancuso, 2014). Added liabilities may result if a business is ravaged by a fire or flood or if the business owner(s) become the victim of a lawsuit—for example, a patronRead MoreThe Case New York Times Co. Vs. United States Essay976 Words   |  4 PagesThe case New York Times Co. Vs United States in summary was a first amendment battle between the United States government and the prominent newspaper cooperation New York Times in 1971. The premises of this legal battle was based on the New York Times reporter Daniel Ellsberg publishing in excerpts illegally leaked, classified documents containing the United States involvement in the Vietnam War specifically on the anticipated death counts (Institution, 2015, p. n .p). However, The United StatesRead MoreBUS670 Week 1 Assignment1080 Words   |  5 Pagesï » ¿ Legal Underpinnings BUS670: Legal Environment Name: Instructor Name: Legal Underpinnings In case of breach of contract liability shall be limited or unlimited depending on the type of activity. There are five types of business organizations in the United States. These forms are sole proprietorship, a partnership, limited liability company, partnership, and limited liability company. Each of these formations business has advantages and disadvantages for the employerRead MoreArticle Review: Antigona: A Voice Rebuking Power by Margaret E Montoya947 Words   |  4 Pagesof New Mexico law professor named Margaret E. Montoya and explored a legalistic understanding of Sophocles play Antigone. The article detailed a trip to Mexico to see a performance of Antigone in Spanish, but also discussed the legal aspect of King Creons decisions. In the play King Creon acted in ways that were considered to be completely in line with the legal system of the time, however, those actions were also cruel and went against what was believed to be a higher law: the law of the gods.Read MoreEssa y on Approaches to Public Administration840 Words   |  4 Pages Then there are those that believe in representativeness and the separation of powers that rest in the government to properly operate the government. There are also those who believe that the government should adhere to the strictest letter of the law. I look to describe all three approaches to public administration and apply those approaches to my life. The managerial approach to public administration was championed by Frederick Taylor. It came about as a reaction to the political influence inRead MoreLegal Corruption In Nigeria1620 Words   |  7 Pagesmajor hindrance in the fight against corruption in some States. For instance, section 308 of the 1999 Constitution of Nigeria still provides for the â€Å"immunity clause† for some elected officers and has shielded certain political office holders from legal prosecution while in office, notwithstanding the weight of any corruption allegation against them. Article 5 (1) of the Rome Statute sets out the crimes within the jurisdiction of the Court: 1. The jurisdiction of the Court shall be limited to the