Premium Essay

Week 1 Law 531

In:

Submitted By jenjai07
Words 684
Pages 3
How To Form A Single Member LLC

Law/531

Abstract

In this paper I will explain how who a business owner decide to on establishing a Limited Liability Company or to decide on a single member LLC. Also I will explain the advantages and disadvantages with LLC verse SMLLC. Following, I will discuss the step a businessperson must take in order to establish a SMLLC. The last information stated in the outline will conclude why a business owner should consider the SMLLC over a LLC.

How To Form A Single Member LLC I. Single Member Limited Liability Corporation. a. For most businessmen and women considering ownership of a business will come down to what benefits the business the most. No one wants to go into a business to fail so some choices must be made in order to consider the best choices for that particular business. b. Steps towards the right decisions. i. Tax Classifications 1. This is important for the operation of the business. ii. Nature of the Business 2. Certain business ventures only one needs one person to function with no employees needed 3. If employees are needed different factors will change the decisions on which business should be established. II. Creating a SMLLC. c. The business owner there are steps that must be taken to make the business legal and recognized but the state has made once the decision. iii. Establishing an Article of Certificate. 4. The name of the limited liability company, within the requirements of the state 5. The name and address of the registered agent. 6. The address of the registered office. III. Advantages and disadvantages of SMLLC. d. Advantages iv. There are no federal income tax complications, because the entity doesn't exist in the eyes of

Similar Documents

Premium Essay

Law 531 Week 1

...LAW 531 WEEK 1 A+ Graded Tutorial Available At: http://hwsoloutions.com/?product=law-531-week-1 Visit Our website: http://hwsoloutions.com/ Product Description PRODUCT DESCRIPTION LAW 531 Week 1 Introduction The cost of taking a lawsuit to court can be very expensive for a business or company. Knowing that are more option available to you to weigh your option before take a lawsuit or a case to trial could save you time and money. Not every case even makes it to the courtroom because they are solved outside the through alternative dispute resolution, ADR. Understanding how a ADR works and the process of going through the courts are valuable to know and something that anyone in a corporate business setting should have some insight on in case of an incident may arise within your business. Legal Phases Initiating a lawsuit, the plaintiff must prepare a petitionand take this form for to the Clerk of Courts for filing. Once this is done you have to give legal notice to the person or company you are suingthat you have filed a lawsuit against them. This person is better known as the defendant. He defendant may or may not file a response to the lawsuit, which is called an answer or counter claim with the court clerk. The plaintiff has moved on to the discovery process where to get information from the other side of the lawsuit by interrogatories or a disclosure. Another way for the plaintiff and defendant get information is by an oral or written disposition where they...

Words: 520 - Pages: 3

Premium Essay

Law 531 Week 1 Quiz

...LAW 531 Week 1 Quiz To Buy This material Click below link http://www.uoptutors.com/LAW-531/LAW-531-Week-1-Quiz LAW 531 Week 1 Quiz 1.)    George has served Mary with a complaint alleging breach of contract. Mary has never been sued before and as such, she seeks your advice on what to do with the complaint. You advise that she answer George’s complaint but do not provide any affirmative defenses that George can use against her should not respond to George’s complaint as an answer implies an admission write a letter to the judge saying that George is mistaken answer George’s complaint by admitting or denying the allegations George has asserted against her 2.)    Which of the following is true of The Federal Arbitration Act? It permits an appeal for all arbitration awards. It provides that arbitration agreements are valid, irrevocable, and enforceable. It governs all types of alternative dispute resolution. It applies only to breach of contract disputes. 3.)    Which of the following is true of arbitration? A resolution may or may not be reached. One party usually drops the case. Parties can introduce evidence to support their case. A judicial referee makes recommendations to the parties. 4.)    Which form of alternative dispute resolution occurs when the parties choose an impartial third party to hear and decide their dispute? Mediation Conciliation Arbitration Minitrial 5.)    Which of the following is true of a corporation?  A corporation terminates...

Words: 1299 - Pages: 6

Premium Essay

Law/531 Week 1 Dq 1

...clauses has some affect on businesses, however, the clause I am going to explain some about it the Equal Protection Clause. The Equal Protection Clause states that a State cannot “deny to any person within its jurisdiction the equal protection of the laws.” Even though the wording implies that this is only on the state and local levels, the Supreme Court has said it also applies to the Federal level. In simpler terms this clause protects people and corporation from being discriminated against. The Equal Protection Clause allows corporations to expand into states other than the state where they were originally formed. If the Equal Protection Clause did not exist state and local governments could prevent businesses from opening an office or store in their state or cities. If a business cannot expand into other cities and states this would limit what is available for purchase to consumers in those cities and states. It would hamper interstate commerce also. I believe it would also hurt the states or cities that would not allow the corporation to open in their area, due to the fact that they would not have to benefits to their economy that the business would provide. Cheeseman, H.R. (2010). Business law: Legal environment, online commerce, business ethics, and international issues (7th ed.). Upper Saddle River, NJ: Pearson Prentice...

Words: 261 - Pages: 2

Premium Essay

Discussion Question Law/531 Week 1

...Alternative Dispute Resolution LAW/531 March 22,2011 Alternative Dispute Resolution In my dispute, I always look forward to resolving the problems by using the negotiation ADR. This gives the opportunity to all members in the team to participate in a voluntary attempt to resolve any complaint and issues that could have in the course. First I would bring to the table that each member presents their own concern. Secondly bring ideas to how to resolve it that every member be part of the solution. Third we all in consent select a mediator to have who going to give advice to all members to decide the best result in a most possible fairness. Four would be good to decide times and place, including in person or by the internet to bring a good conversation environment to discuss the issue that is been presented. Five each member will have to be accurate to the attended discussion board in a mandatory collaboration effort. Finally set that everybody will accept the solution that the group present in a final vote that the members will resolve. This will give a democratic resolve to all members within the team. I understand that all individuals will have different opinion and skills that will bring a wide expansion of solution, conclusion, and diversification to each member to be discuss. In this type of alternative dispute resolution option, I found the best way to find in a friendly motion to bring all members together. The mediator will work as an advisor that will be an expert...

Words: 332 - Pages: 2

Premium Essay

Law 531 Week 1 Alternate Dispute Resolution

...Alternate Dispute Resolution Johnny B. Good LAW/531 April 9, 2012 Professor Alternative Dispute Resolution ("ADR") refers to any means of settling disputes outside of the courtroom. ADR typically includes early neutral evaluation, negotiation, conciliation, mediation, and arbitration. As burgeoning court queues, rising costs of litigation, and time delays continue to plague litigants, more states have begun experimenting with ADR programs. Some of these programs are voluntary; others are mandatory. While the two most common forms of ADR are arbitration and mediation, negotiation is almost always attempted first to resolve a dispute. It is the preeminent mode of dispute resolution. Negotiation allows the parties to meet in order to settle a dispute. The main advantage of this form of dispute settlement is that it allows the parties themselves to control the process and the solution. Mediation is also an informal alternative to litigation. Mediators are individuals trained in negotiations, who bring opposing parties together and attempt to work out a settlement or agreement that both parties accept or reject. Mediation is used for a wide gamut of case-types ranging from juvenile felonies to federal government negotiations with Native American Indian tribes. Mediation has also become a significant method for resolving disputes between investors and their stock brokers. Arbitration is a simplified version of a trial involving limited discovery and simplified rules of...

Words: 480 - Pages: 2

Free Essay

Law 531 Entire Course

...LAW 531 ENTIRE COURSE To purchase this visit here: http://www.activitymode.com/product/law-531-entire-course/ Contact us at: SUPPORT@ACTIVITYMODE.COM LAW 531 ENTIRE COURSE LAW-531 Final Exam Three Sets LAW-531-Week-1-Assignment-ADR-Clause-for-Learning-Team-Charter LAW-531-Week-1-DQs LAW-531-Week-2-Assignment-Business-Regulation-Simulation-VERSION-1 LAW-531-Week-2-Assignment-Business-Regulation-Simulation-VERSION-2 LAW-531-Week-2-Assignment-Recognizing-and-Minimizing-Tort-and-Regulatory-Risk LAW-531-Week-2-DQs LAW-531-Week-3-Assignment-Recognizing-Contract-Risk-and-Opportunities LAW-531-Week-3-DQs LAW-531-Week-4-Assignment-Legal-Risk-and-Opportunity-in-Employment LAW-531-Week-4-DQs LAW-531-Week-5-DQs LAW-531-Week-5-Risk-Arising-in-Tangible-Property-and-Intellectual-Property LAW-531-Week-6-Assignment-Corporate-Compliance-Plan LAW-531-Week-6-DQs Activity mode aims to provide quality study notes and tutorials to the students of LAW 531 ENTIRE COURSE in order to ace their studies. LAW 531 ENTIRE COURSE To purchase this visit here: http://www.activitymode.com/product/law-531-entire-course/ Contact us at: SUPPORT@ACTIVITYMODE.COM LAW 531 ENTIRE COURSE LAW-531 Final Exam Three Sets LAW-531-Week-1-Assignment-ADR-Clause-for-Learning-Team-Charter LAW-531-Week-1-DQs LAW-531-Week-2-Assignment-Business-Regulation-Simulation-VERSION-1 LAW-531-Week-2-Assignment-Business-Regulation-Simulation-VERSION-2 LAW-531-Week-2-Assignment-Recognizing-and-Minimizing-Tort-and-Regulatory-Risk ...

Words: 517 - Pages: 3

Premium Essay

Law 531 Week 6 Presentation

...LAW 531 WEEK 6 PRESENTATION To purchase this visit here: http://www.activitymode.com/product/law-531-week-6-presentation/ Contact us at: SUPPORT@ACTIVITYMODE.COM LAW 531 WEEK 6 PRESENTATION Prepare a Powerpoint presentation of no more than 15 minutes. In week 5, I will assign teams a set or multiple sets (depending on the number of teams) the Question #(s) to answer. Your presentation should explain to the class the answers to the following questions: Question 1: Explain the term of office for board of directors. Give an account of the director’s and corporate officer’s duty of care towards the corporation. Explain Self-dealing. And finally, What is the CEO and CFO provision laid out by the Sarbanes-Oxley Act of 2002? Question 2: Distinguish between general government regulation and specific government regulation. Explain in brief the types of federal administrative agencies with examples. Distinguish between substantive rules and interpretive rules. What is a statement of policy? When are searches by administrative agencies considered reasonable? And finally, How is the general public protected from harassment by administrative agencies? Question 3: What is the United Nation’s Biosafety Protocol for genetically altered food? Give an account of the regulation of medicinal devices in the United States? What are the powers of the Consumer Product Safety Commission? Name some consumer products excluded from the purview of CPSC. Question 4: Describe the purpose and...

Words: 1261 - Pages: 6

Premium Essay

Law 531 Week 4 Quiz or Knowledge Check Answers

...LAW 531 Week 4 Knowledge Check www.StudentWhiz.com provides Latest UOP tutorial courses that would definitely lead you to success. We provide LAW 531 Week 4 Knowledge Check Question, Answers and lot more. We are having UOP LAW 531 Final Exam Assignments, so that you could test yourself. Being top in class is no more a dream with StudentWhiz. 1. Identify the true statement about principal-agent and employer-employee agency relationships. • The employee in an employer-employee relationship is authorized to act on behalf of the employer in all business situations. • The principal in a principal-agent relationship has no authority over contracts made by the agent. • The employee in an employer-employee relationship can sign contracts on behalf of the employer. • The agent in a principal-agent relationship is authorized to act on behalf of the principal. 2. In certain types of agencies, the parties involved do not sign a formal contract. However, it can be inferred from their conduct, that they are part of the agency. What is this kind of agency known as? • Implied agency • Express agency • Agency by ratification • Agency by contract Click here to download Complete Answers of LAW 531 Week 4 Knowledge Check 3. Beta Corp. and Woodrow LLC. have formed an agency. Both parties have agreed to the terms on which the agency will operate, and they have signed a contract. According to the terms of the contract, Woodrow, the agent, is authorized to act on behalf...

Words: 801 - Pages: 4

Premium Essay

Law 531 Week 4 Quiz

...LAW 531 Week 4 Knowledge Check www.UopStudents.com 1. Identify the true statement about principal-agent and employer-employee agency relationships. • The employee in an employer-employee relationship is authorized to act on behalf of the employer in all business situations. • The principal in a principal-agent relationship has no authority over contracts made by the agent. • The employee in an employer-employee relationship can sign contracts on behalf of the employer. • The agent in a principal-agent relationship is authorized to act on behalf of the principal. 2. In certain types of agencies, the parties involved do not sign a formal contract. However, it can be inferred from their conduct, that they are part of the agency. What is this kind of agency known as? • Implied agency • Express agency • Agency by ratification • Agency by contract Click here to download Complete Answers of LAW 531 Week 4 Knowledge Check 3. Beta Corp. and Woodrow LLC. have formed an agency. Both parties have agreed to the terms on which the agency will operate, and they have signed a contract. According to the terms of the contract, Woodrow, the agent, is authorized to act on behalf of Beta. Identify the type of agency illustrated in the scenario. • Agency by ratification • Express agency • Implied agency • Apparent agency 4. What is true about disparate-treatment discrimination? • It involves discrimination against an entire protected class. • It involves...

Words: 745 - Pages: 3

Premium Essay

Law 531 Week 2 Quiz or Knowledge Check Answers

...LAW 531 Week 2 Knowledge Check www.StudentWhiz.com provides Latest UOP tutorial courses that would definitely lead you to success. We provide LAW 531 Week 2 Knowledge Check Question, Answers and lot more. We are having UOP LAW 531 Final Exam Assignments, so that you could test yourself. Being top in class is no more a dream with StudentWhiz. 1. Identify the true statement about intentional torts. • A person can be sued for assault even if there was no actual physical contact. • A person can be sued for threatening future harm. • A person can be accused of battery only if there was direct physical contact. • A person cannot be sued for intending to injure one person but injuring another instead. Click here to download Complete Answers of LAW 531 Week 2 Knowledge Check 2. When does misappropriation of the right to publicity occur? • When private information about a person is made available to the public without the person's consent • When the identity of an individual is used to make commercial gains without the individual’s permission • When false statements about an individual are made on a public platform • When a false document is signed using another person’s name 3. Natalia has sued a media agency for publishing false statements about her in one of its widely circulated newspapers. Natalia has sought damages from the media agency for violating her reputation. Identify the tort that is illustrated in the scenario. • Misappropriation of right...

Words: 1051 - Pages: 5

Free Essay

Hrm 531 Week 2 Employment Law Compliance Plan

...HRM 531 WEEK 2 EMPLOYMENT LAW COMPLIANCE PLAN To purchase this, Click here http://www.activitymode.com/product/hrm-531-week-2-employment-law-compliance-plan/ Contact us at: SUPPORT@ACTIVITYMODE.COM HRM 531 WEEK 2 EMPLOYMENT LAW COMPLIANCE PLAN HRM/531 Human Capital Management Complete the Employment Law Compliance Plan task as described in the message from Traci on the Atwood and Allen Consulting Page. Individual Assignment: Employment Law Compliance Plan Purpose of Assignment For this task, Traci has asked you to develop an employment law compliance plan for your chosen client. This task will help you gain a better understanding of employment laws at the city, state, or national level. It is also important for you to understand how to be compliant with the applicable laws, and what the consequences are of noncompliance. Knowing laws that are applicable to employment in various business situations is essential starting and maintaining a successful business. Lists at least 3 employment laws the client must be concerned about Includes brief summary of each law Includes consequences of noncompliance with laws Includes recommendations for compliance with identified laws The paper is no more than 1,400 words in length. Format your paper consistent with APA guidelines. Use at least two (4) references from the reading assignment, Internet articles, Electronic Reserve Readings articles, or HR journal articles to support your paper. At least one(1) in-text citation must...

Words: 721 - Pages: 3

Premium Essay

Law 531 Week 6 Quiz

...LAW 531 Week 6 Knowledge Check www.UopStudents.com 1. What is true of the Foreign Commerce Clause in the context of the United States and foreign affairs? • It does not encompass state and local laws. • It gives the federal government exclusive power over foreign affairs. • It prohibits multilateral treaties. • It authorizes Congress to regulate commerce with foreign nations. 2. The country of Elamia has added a new feature to its constitution. This feature gives power to the central government to enter into treaties with foreign countries. It does not give this power to state governments. In addition, this feature states that any local law that goes against a centrally-formed treaty will be canceled. Which part of the U.S. Constitution does Elamia's new constitutional feature closely resemble? • Treaty Clause • Foreign Commerce Clause • Bilateral Treaty Clause • North American Free Trade Agreement (NAFTA) Click here to download Complete Answers of LAW 531 Week 6 Knowledge Check 3. In the context of the United States and foreign affairs, treaties _____. • can only be formed between two nations • can only be formed only if sponsored by international organizations • are considered equal to lawmaking at the international level • can be formed even by local governments 4. The International Court of Justice _____. • hears cases related to individuals and businesses • hears cases involving nations • is composed of five judges • is...

Words: 662 - Pages: 3

Premium Essay

Ldr 531 Week 3 Individual Leadership Style

...LDR 531 WEEK 3 INDIVIDUAL LEADERSHIP STYLE To purchase this visit here: http://www.activitymode.com/product/ldr-531-week-3-individual-leadership-style/ Contact us at: SUPPORT@ACTIVITYMODE.COM LDR 531 WEEK 3 INDIVIDUAL LEADERSHIP STYLE The paper has two parts. 1. Select and describe a leader you admire. Your selected leader may be either a real-life individual or a fictional character from television, the movies, or a book. Using leadership theories, analyze your selected leader to identify characteristics and provide specific examples of leadership qualities you think contributed to that person's success. 2. Evaluate your own leadership style and identify your own leadership characteristics in the same way ALONG with a plan to improve upon your leadership - which could include things likeundertaking specific training, joining professional association, seeking out situations at work or as a volunteer to develop your abilities.  1500 words  Format your paper consistent with APA guidelines  Evaluate your chosen leader and yourself, based on the leadership theories.  This is a graduate program paper. Use the texts and course readings to analyze/discuss leadership style and characteristics. The texts have specific theories and models of leadership style. How does the style of your selected leader compare to such models? How do you compare to such models?  Use two peer reviewed journal article in your discussion. There is a list of suggest journals in a posting...

Words: 1139 - Pages: 5

Premium Essay

Law 531 Week 2 Quiz

...LAW 531 Week 2 Knowledge Check www.UopStudents.com 1. Identify the true statement about intentional torts. A. A person can be sued for assault even if there was no actual physical contact. B. A person can be sued for threatening future harm. C. A person can be accused of battery only if there was direct physical contact. D. A person cannot be sued for intending to injure one person but injuring another instead. Click here to download Complete Answers of LAW 531 Week 2 Knowledge Check 2. When does misappropriation of the right to publicity occur? A. When private information about a person is made available to the public without the person's consent B. When the identity of an individual is used to make commercial gains without the individual’s permission C. When false statements about an individual are made on a public platform D. When a false document is signed using another person’s name 3. Natalia has sued a media agency for publishing false statements about her in one of its widely circulated newspapers. Natalia has sought damages from the media agency for violating her reputation. Identify the tort that is illustrated in the scenario. A. Misappropriation of right to publicity B. Battery C. Libel D. False imprisonment Want to check out the complete Knowledge Check..?? Visit LAW 531 Week 4 Knowledge Check 4. What is true about a negligence lawsuit in the context of unintentional torts? A. The plaintiff does not need to prove that...

Words: 1041 - Pages: 5

Free Essay

Law 531 Week 5 Individual Assignment

...LAW 531 WEEK 5 INDIVIDUAL ASSIGNMENT To purchase this visit here: http://www.activitymode.com/product/law-531-week-5-individual-assignment/ Contact us at: SUPPORT@ACTIVITYMODE.COM LAW 531 WEEK 5 INDIVIDUAL ASSIGNMENT Complete the Discrimination Scenario Simulation involving a discrimination issue at the workplace and associated legal issues. Then write an essay paper discussing the following scenarios: Discrimination Scenarios You have no more than 1,500 words to provide substantive answers to the following questions: 1) A black firefighter alleges that each time he is transferred from one fire station to another, he must take his bed with him, on orders of the fire chief. The chief defends on the basis that it is a legitimate decision, because white firefighters would not want to sleep in the same bed in which a black firefighter slept. Is this illegal under Title VII? Explain your answer. (This was a real case from Georgia). 2) An Employer had only one promotion to give, but he was torn between giving it to the single female and the male employee, who had a family. The employer thought the male employee most needed the job and could best use the money. He finally decided to give the promotion to the male and told the female he gave it to the male because he was a "family man and needed the money." If the female employee sues, will she win? (This is also a real case.) 3) A female employee has an operation on her breast and when she returns to work, a male employee...

Words: 607 - Pages: 3