Free Essay

What Is Law Partnership

In:

Submitted By krishveni
Words 1652
Pages 7
What is Law of Partnership?
A partnership is a for-profit business association of two or more persons. Because the business component is defined broadly by state laws and because "persons" can include individuals, groups of individuals, companies, and corporations, partnerships are highly adaptable in form and vary in complexity. Each partner shares directly in the organization's profits and shares control of the business operation. The consequence of this profit sharing is that partners are jointly and independently liable for the partnership's debts.
According to Section (2) the relation between members of any company or association
Which is—
(a) Registered as a company under the Companies Act 1965 [Act 125] or as a co-operative society under any written Law relating to co-operative societies; or

(b) Formed or incorporated by or in pursuance of—
(i) Any other law having effect in Malaysia or any part thereof; or
(ii) Any letters patent, Royal Charter or Act of the Parliament of the United Kingdom
RULES FOR DETERMINING EXISTENCE OF PARTNERSHIP
According to section ( 2 ) In determining whether a partnership does or does not exist, regard shall be had to the following rules-

(1) Joint tenancy, tenancy in common, joint property, common property, or part ownership does not of itself create a partnership as to anything so held or owned, whether the tenants or owners do or do not share any profits made by the use thereof.

(2) The sharing of gross returns does not of itself create a partnership, whether the persons sharing such returns have or have not a joint or common right or interest in any property from which or from the use of which the returns are derived.

(3) The receipt by a person of a share of the profits of a business is prima facie evidence that he is a partner in the business, but the receipt of such a share, or of a payment contingent on or varying with the profits of a business, does not of itself make him a partner in the business; and in particular-

(a) The receipt by a person of a debt or other liquidated amount by instalments, or otherwise out of the accruing profits of a business does not of itself make him a partner in the business or liable as such

(b) A contract for the remuneration of a servant or agent of a person engaged in a business by a share of the profits of the business does not of itself make the servant or agent a partner in the business or liable as such

(c) A person being the widow or child of a deceased partner, and receiving by way of annuity a portion of the profits made in the business in which the deceased person was a partner, is not by reason only of such receipt a partner in the business or liable as such

(d) The advance of money by way of loan to a person engaged or about to engage in any business on a contract with that person that the lender shall receive a rate of interest varying with the profits, or shall receive a share of the profits arising from carrying on the business, does not of itself make the lender a partner with the person or persons carrying on the business or liable as such. Provided that the contract is in writing, and signed by or on behalf of all the parties thereto

(e) A person receiving by way of annuity or otherwise a portion of the profits of a business in consideration of the sale by him of the goodwill of the business is not by reason only of such receipt a partner in the business or liable as such.
MEANING OF 'FIRM'

In Section 4 (1) Persons who have entered into partnership with one another are for the purposes of this Act called collectively a firm and the name under which their business is carried on is called the firm-name.

(2) In Scotland a firm is a legal person distinct from the partners, of whom it is composed, but an individual partner may be charged on a decree or diligence directed against the firm, and on payment of the debts is entitled to relief pro rata from the firm and its other members.
FUNDAMENTALS OF A LIMITED LIABILITY PARTNERSHIP
3. Separate legal personality and capacity
(1) A limited liability partnership is a body corporate and shall have legal personality separate from that of its partners.
(2) A limited liability partnership shall have perpetual succession.
(3) Any change in the partners of a limited liability partnership shall not affect the existence, rights or liabilities of the limited liability partnership.
(4) A limited liability partnership shall have unlimited capacity and shall be
Capable of-
(a) Suing and being sued;
(b) Acquiring, owning, holding and developing or disposing of property; and
(c) Doing and suffering such other acts and things as bodies corporate may lawfully do and suffer.

However in my point of view, I felt that the formation of Limited Liability Partnership is an disadvantage compare to the Limited Liability Partnership Act 2012. This is because the formation of Limited Liability Partnership Act 2012 is done more organized and has more legal power. Now, I will discuss about the formation of Limited Liability Partnership Act 2012 has stated in Section (7):
FORMATION OF LIMITED LIABILITY PARTNERSHIPS
Subject to sections 7 and 8, any two or more persons, consisting of, wholly or partly, individuals or bodies corporate, associated for carrying on any lawful business with a view to profit may form a limited liability partnership in accordance with the terms of the limited liability partnership agreement.
Limited Liability Partnerships can carry on business with less than minimum partners
(1) A limited liability partnership may carry on business with fewer than two partners for a period not exceeding six months or a longer period as may be determined by the Registrar upon an application from the remaining partner, provided that the period so extended by the Registrar does not exceed one year.
(2) if a limited liability partnership carries on business with fewer than two partners for a period longer than the period referred to in subsection (1), a person shall, notwithstanding subsections 21(1) and (2), be personally liable, jointly and severally with the limited liability partnership, for any obligation of the limited liability partnership incurred during the period that the limited liability partnership so carries on business after the period referred to in subsection (1) if, at the time the obligation was incurred, the person -
(a) Was a partner of the limited liability partnership; and
(b) Knew or ought to have known that the limited liability partnership was carrying on business with fewer than two partners for a period longer than the period referred to in subsection (1).
(3) If a limited liability partnership carries on business with fewer than two partners for a period longer than the period referred to in subsection (1)-
(a) The limited liability partnership; and
(b) the person who is a partner during the period that the limited liability partnership so carries on business after the period referred to in subsection (1) and is cognizant of the fact that it is carrying on business with fewer than two partners during that period, commit an offence and shall, on conviction, be liable to a fine not exceeding two hundred thousand ringgit.
(4) Upon conviction of the limited liability partnership under subsection (3), the court may order the limited liability partnership to be dissolved and its name to be struck-off the register.
Other than that, the advantage of Limited Liability Partnership is that according to Section ( 9 ) Limited liability partnership agreement
(1) Except as otherwise provided by this Act, the mutual rights and duties of the partners of a limited liability partnership, and the mutual rights and duties of the limited liability partnership and its partners, shall be governed-
(a) By the limited liability partnership agreement; and
(b) In the absence of agreement as to any matter set out in the second schedule, by any provision relating to that matter as set out in the second schedule.
(2) The limited liability partnership agreement shall be in the national language or English language, and shall consist of the following particulars:
(a) The name of the limited liability partnership;
(b) The nature of business of the limited liability partnership;
(c) The amount of capital contribution by each partner; and
(d) That the partners have agreed to become partners of the limited liability partnership. In partnership the disadvantage is that, doesn’t have a proper registration but In Limited Liability Partnership there is have several rules and condition which is:
(1) Upon being satisfied that the application under section 10 has complied with the requirements of registration under this Act, the Registrar shall-
(a) Register the limited liability partnership and allocate a registration number for the limited liability partnership; and
(b) Issue a notice of registration in such form as the Registrar may determine.
(2) On and from the date of registration specified in the notice of registration under subsection (1), there shall be a limited liability partnership by the name and registration number as specified in the notice.
(3) The notice of registration under subsection (1) is conclusive evidence that the requirements of this Act in respect of the registration have been complied with and that the limited liability partnership is duly registered under this Act.
(4) Upon application by a limited liability partnership and on payment of the prescribed fee, the Registrar may issue to that limited liability partnership a certificate of registration in such form as the Registrar may determine.
(5) The registration of any limited liability partnership shall not be taken to imply that the requirements of any other written law in relation to any business carried on by that limited liability partnership have been complied with.

Similar Documents

Premium Essay

Franchising

...Read and Download Ebook The Law On Partnerships And Private Corporations By Hector S De Leon PDF THE LAW ON PARTNERSHIPS AND PRIVATE CORPORATIONS BY HECTOR S DE LEON PDF Well, book The Law On Partnerships And Private Corporations By Hector S De Leon will certainly make you closer to just what you want. This The Law On Partnerships And Private Corporations By Hector S De Leon will be consistently great close friend at any time. You could not forcedly to always finish over reviewing an e-book simply put time. It will certainly be only when you have spare time and investing couple of time to make you feel pleasure with just what you read. So, you could get the definition of the message from each sentence in guide. PDF File: The Law On Partnerships And Private Corporations By Hector S De Leon 1 Read and Download Ebook The Law On Partnerships And Private Corporations By Hector S De Leon PDF THE LAW ON PARTNERSHIPS AND PRIVATE CORPORATIONS BY HECTOR S DE LEON PDF Download: THE LAW ON PARTNERSHIPS AND PRIVATE CORPORATIONS BY HECTOR S DE LEON PDF Reserve The Law On Partnerships And Private Corporations By Hector S De Leon is one of the priceless well worth that will make you constantly abundant. It will certainly not suggest as rich as the cash provide you. When some people have absence to encounter the life, people with many books often will be better in doing the life. Why need to be e-book The Law On Partnerships And Private Corporations By Hector S De Leon It is in fact not...

Words: 782 - Pages: 4

Premium Essay

Castomer Satisfaction in Commercial Bank

...Law 1. Define company? How many kinds of companies? Distinguish between private Ltd. and public Ltd. company. 2. What is Memorandum of Association? What are the elements of Memorandum of Association? What are the stages in the formation of a company? 3. What is capital? Describe briefly the source of companies’ capital? Define share? Describe briefly the classification of share? 4. Define contract? Describe briefly the essential elements of contract? Define Law? Describe briefly the classification of law? 5. Define partnership? The essential elements of partnership? Classes of partners and classes of partnership? 6. Short Notes: a) Article of Association. b) Difference between Memorandum of Association and Article of Association. c) Authorized Capital. d) Paid-up capital. e) AGM f) EGM. Q: What is contract? Describe the elements of contract? Ans. Section 2(h) of the Contract Act, 1872 provides that, “An agreement enforceable by law is a contract.”Therefore, in a contract there must be (1) on agreement and (2) the agreement must be enforceable by law. Agreements which are not enforceable by law they are not contract. Elements of contract: The essential elements of a contract are explained below: (1) Offer and acceptance: There must be a lawful offer by one party and a lawful acceptance of the offer by the other party or parties. “Lawful” implies that the offer and acceptance must conform to the rules laid down in the contract act 1872. (2) Intention...

Words: 2106 - Pages: 9

Premium Essay

Legal Environment

...TASK One How Laws are made in England and Wales. In England and Wales, laws are made by the parliament whose main work is to make laws, debate topic issues and look at how taxes paid by the citizens are spent to help run the country. The House of Parliament is located in Westminster London and it consists of three parts; The House of Commons otherwise known as MP’s, The House of Lords and The Monarch otherwise known as the Queen. When the parliament makes law, they are called the acts of parliament that affect all citizens and people who reside in the country. For example, laws determine at what age people can drive cars or vote in elections. Before laws are being approved by the Queen as act of parliament, they are first of all being proposed by the parliament which is often called a bill and it consists of three types; public bills, private bills and private members bills. Before a bill is enacted into law, it passes several stages receiving the consent of both The House of Commons and The House of Lords which will be read and initiated by both houses and the delegated committees formed under the house of Parliament before it is being presented to the Queen for the Royal Assent. The Delegated Powers Scrutiny Committee (established in 1992) keeps under constant review the extent to which legislative powers are delegated by Parliament to government ministers, and examines all Bills with delegating powers which allow SIs to be made before they begin their passage through...

Words: 3974 - Pages: 16

Premium Essay

Business Structures, Epstein Outline

...contro1. • Source: Restatement of Agency. Section 1. comments c and d. A.P. Smith Mfg. Co. v. Barlow • The board of directors voted to contribute $1,500 to Princeton University on the recommendation of the corporation's president. Hugh O'Brien. Some shareholders objected. • The corporation brought suit against the board of directors. Note: Barlow was on the board. • The court sustained the validity of the gift by the corporation. The court also found that the gift "was a lawful exercise of the corporation's implied and incidental powers under the common law principles and that it came within the express authority of the pertinent state legislation." • The case stands for the proposition that corporations have the legal authority to make charitable contributions. • Today, MBCA,Section 302(13) allows corporations to make donations for the public welfare or for charitable, scientific or educational purposes. • State laws generally allow corporations to make charitable gifts, • Political contributions are regulated differently and more vigorously. Why do you think that is so? Why is A.P. Smith in the Book? • To show that corporations are separate entities....

Words: 11109 - Pages: 45

Premium Essay

Diffferences

...In 1977, Steeby and Fial formed a partnership to perform auditing services. They shared equally in the equity, income and profits of the partnership. They began the partnership as the only one performing the services but eventually had to hire independent contractors to do the work. In 1984, Steeby and Fial were supervising and finding new work but not performing the services. Fial’s activities generated 80% of the business and Steeby the other 20%. Fial was unhappy with the arrangement and wrote Steeby to dissolve the partnership. He said that the dissolution should simply require assignment of accounts. Fial told the ICs that their obligations to the partnership would be terminated on 9/10/84 and Fial then terminated the contacts with the clients and put them under Ks with his new firm. He then hired new auditors to do the auditing. The partnership was formally terminated on 5/23/85. Steeby sued for breach of the partnership agreement and for final accounting of the assets. Trial court found that Fial had breached the agreement by breaching his fiduciary obligations. The breach occurred when: 1) he fired the auditors and dissipated the assets of the partnership; 2) terminated the contracts with the clients and taking over the work. JUDGMENT: Upheld trial court’s determination of breach of fiduciary duty and the constructive trust. A sole trader works alone, he/she is liable for everything about the business, day-today running of the business, its success and failure...

Words: 3191 - Pages: 13

Premium Essay

Essay

...Beltran Garza ID: 1586848 Group: 4Ai Cd. Universitaria de Nuevo León, November 16th 2015 CHAPTER 12 CONTRACTS AND SALES Introduction and Formation A contract is a promise or set of promises for breach of which the law fives a remedy, or the performance of which the law in some way recognizes as a duty. The three general sources of contract law for contracts entered into in the United States include common law, the Uniform Commercial Code, and the new sources of law evolving in response to e-commerce. Common Law The common law was the first law of contracts. It consists today of those traditional notions of law and the body of law developed by judicial decisions dealing with contract issues. Common law applies to contracts that have land or services as their subject matter. Contracts for the construction of a home and employment contracts are governed by common law. The Uniform Commercial Code (UCC) One of the problems with common law is its lack of uniformity, the states do not follow the same case decisions on contract law, and some states do not follow the Restatement. To address the uniformity, the National Conference of Commissioners on Uniform State Laws and the American Law Institute worked to draft a set of commercial laws appropriate for businesspeople, lawyers and lawmakers, the result of their efforts was the Uniform Commercial Code (UCC). * Article 2 of the UCC Governs contracts for the sale of goods and has been adopted in all states except...

Words: 12443 - Pages: 50

Premium Essay

Joint Venture in the Philippines

...RESEARCH ON JOINT VENTURE IN THE PHILIPINES Group Research Work Submitted to the Ramon V. Del Rosario College of Business De La Salle University – Manila In Partial Fulfillment Of the requirements in BUS520M Business Law Submitted by: GROUP 4 Amparo, Lourdes Lagman, Mia Marie Legaspi, Jill Noreen Submitted to: Atty. Antonio Ligon April 6, 2016 I. Background 1. Philippine Business a. History 2. Doing business in the Philippines b. Forms of business 3. Definition and Origin of Joint Venture (JV) II. Statement of the Problems 1. What are the applicable laws in joint ventures? 2. What are the tax implications? 3. Are our current joint venture laws sufficient? Especially with the Asean integration? III. Statement of Objectives The research study aims to: 1. Identify the applicable laws in joint ventures 2. Identify the tax implications in joint ventures 3. Identify insufficiencies (if any) in our current joint venture laws and make recommendations IV. Discussion 1. Nature of Joint Ventures in Philippine setting 2. Governing Laws 3. Foreign Investments 4. Scope of Joint Venture Business Activity 5. Taxes in Joint Venture 6. Example of JVs in the Philippines V. Analyses VI. Recommendations VII. Learning Points VIII. References I. Background of Philippine Business History Historians state that the early start of business...

Words: 6012 - Pages: 25

Premium Essay

Company Law

...COMPANY LAW 266 ASSIGNMENT RUTHRAN SEEVANATHAN 14550036 SEMINAR FRIDAY 1-4PM TUTOR: YVONNE TIEN Company Law266 Assignment (a) What means, if any, are available to ‘Health Plus’, to expel Annabel from the partnership? Introduction to law The area of law addressed in this issue is Partnerships: Partnership agreement, Fidicuary Duties of partners and expulsion from the partnership. Explaination of law Section 7(1) of the Partnership act states that a partnership can be defined as the contractual relationship between two or more persons with a common view for profit. Partnerships don’t always have to be written contracts. They can be deemed as functional partnerships by other means. Informally- Oral Agreement: is where partners agree to start a business in common and proceed to start up a business with a common view of profit by just word of mouth. As shown in the Miah V Khan[2000] UKHL 55; [2001] 1 All ER 20 case. The partnership fell out before operations of the Indian restaurant had began, but even though they had not carried out business together, they were still deemed a partnership because they worked in common and had a common view to profits. Conduct: Partners can be working together and aiding each other in earn profit but not being in a contract together. The partnership act still classifies them as partners .This can be reflected in the Goudberg V Herniman Assoc Pty Ltd [2007]VSCA 12. Williams engaged an artichect to draw up floor plans for the venture and both...

Words: 1733 - Pages: 7

Premium Essay

Lit1 Task 1

...Lit1 Task 310.1.2-01-06 Part A Determining whether to start or invest in a business endeavor and what kind of business endeavor to choose can be challenging. Through this report the numerous types of business organizations will be assessed. By the end of the report you should have a greater comprehension of the different choices available. * Sole Proprietorship: To start off it is essential to have a clear understanding of what sole proprietorship means. As the sole proprietor you are the owner and the operator of that business. In more detail, the sole proprietor manages everything including setting up the business. An attorney is only needed if the sole proprietor plans to report the name of the business under a name other than their own. In that instance they would need to register the business with the government. * Liability: A full understanding of all liability and where it falls is very important. All liability falls on the owner on the company. This means that not only all of the company’s assets but also the owner’s personal belongings possibly will be occupied in any scenario where the company fails. More specifically, in the event that the company flops because of unfortunate market settings, poor business policy or if there is an injury suffered implicated by company products. The liability falls on the owner of the company including all characteristics of the business and can be brought into any legal actions. * Income Taxes: As a sole proprietor...

Words: 2781 - Pages: 12

Premium Essay

Business Law Study Guide

...cover the concepts that define law and the thoughts that help shape jurisprudence along with its history. The Federal Court, Supreme Court, and the jurisdiction of the courts are also covered. Constitutional law is covered from the perspective of business. This week also provides an introduction to the various forms of business. Small businesses, entrepreneurs, and general partnerships are explored. You discuss how a corporation is formed and how it can be financed. Finally, you study limited liability companies and limited partnerships, as well as franchises and special forms of business. This week further introduces you to the concept of alternative dispute resolution as a method for resolving disputes outside traditional litigation. After first looking at the litigation process, you are then introduced to arbitration, negotiation, mediation, conciliation, minitrial, fact-finding, and the use of a judicial referee. The Legal System and the Legal Forms of Business OBJECTIVE: Explain the major components of the legal system. Resources: Ch. 1, 2, & 4 of Business Law: Legal Environment, Online Commerce, Business Ethics, and International Issues Content • Ch. 1: Legal Heritage and the Information Age o Introduction to Legal Heritage and the Information Age o What Is Law? • Landmark U.S. Supreme Court Case Brown v. Board of Education o Schools of Jurisprudential Thought • International Law: Immigration to the United...

Words: 1106 - Pages: 5

Premium Essay

Lit1 Task 310.1.2-01-06

...Part A (The Report) Sole Proprietorship A sole proprietorship is the most common form of forming a business in the United States. The individual that forms the sole proprietorship and the business is one in the same. For example, if the business owes creditors money, the individual who created the sole proprietorship business has to pay the bill. When entering into contracts the individual is actually agreeing to the contract since the person and business is one in the same. The biggest advantage of doing business under a sole proprietorship is that it is extremely easy to form since the individual creating the sole proprietorship is the business. They are fully responsible for all aspects of the business including making good on payments, collecting monies from customers, and providing the goods or services to their clients. Another reason individuals create sole proprietorships is the flexibility they gain by owning their own business. Since they do not have anybody to report to they can do as they please as far as hours, vacations, expansion, or direction of the business. However, there are many disadvantages that come with a sole proprietorship business. Since the individual is the business they are responsible for all financial responsibilities. They are responsible for ensuring all payments to creditors are paid on-time and in full. If the individual runs into financial issues they are responsible without protection. Also, sole proprietorships can only have one owner...

Words: 3869 - Pages: 16

Premium Essay

Lit1 Task1

...Part A (the report) Forms of Business Organizations SOLE PROPRIETORSHIP A sole proprietorship is an unincorporated business entity owned by one person. A sole proprietorship is the most common form of business today. · Liability: This is one of the largest disadvantages of a sole proprietorship. There is no distinction made under law between the proprietor and the proprietorship therefore the proprietor is one hundred percent liable. In the event that the business flops or is sued the business and personal assets of the proprietor including homes, bank accounts, vehicles, and equipment will be used to pay off outstanding debts. Future earnings are included the only income that is exempt from liability are life insurance monies left by the proprietor to his/her family. · Income taxes: There is no difference under the law between a sole proprietor and the sole proprietorship, meaning that all business income is considered personal income of the proprietor. There is no double tax; all taxes are paid once by the proprietor since there is no separate reporting of federal income tax. The disadvantage to the tax situation is that the proprietors’ income from the proprietorship may cause the individual to enter a higher tax bracket and therefore pay more taxes. However a sole proprietor may decrease taxable income by writing off operating costs as expenses and most often this tax situation is advantageous. · Longevity/Continuity: It is as easy to dissolve the business as...

Words: 3432 - Pages: 14

Premium Essay

International Economic Laws

...Part 1 Business Enterprises in China 1.0 Introduction 2.0 Proprietorships 3.0 Partnerships 4.0 Corporates 1.0 Introduction In the People’s Republic of China, business organizations may be classified in to three main classes: individual proprietorships, partnerships, and corporations. The laws that effect these forms of business enterprises are diverse. There is no single code or statute that governs the PRC law of business enterprises. According to the sources of capital, there are domestic capital enterprises which are regulated by Sole Proprietorship Enterprise Law of the People's Republic of China , Partnership Business Law of the People's Republic of China, and Company Law of the People's Republic of China and foreign capital enterprises which are regulated by The Measures for Administration of the Establishment of the Partnership by Foreign Enterprises or Individuals within the Territory of China, Law of the People’s Republic of China on Chinese-Foreign Con-Tractual Joint Venture, Law of the People’s Republic of China on Chinese-Foreign Equity Joint Ventures, and Law of the People’s Republic of China on Foreign – Capital Enterprises. The relevant laws are the Security Law , the Fair Competition Law and the Antitrust Law. 2.0 Proprietorships 2.1What is a sole proprietorship enterprise A sole proprietorship enterprise means a business entity established within China with its capital contributed by one individual and its assts owned personally by the sole proprietor...

Words: 12251 - Pages: 50

Premium Essay

Reacting to a Process Gone Wrong

...sports bar is the partnership firm because Lou, Jose and Miriam are the three persons who want to start the business in return for a percentage of ownership. Lou and Jose will take care of business operations and Miriam will invest money. Miriam will allow to Lou and Jose to keep control on business activities by sharing profit with them, so it would be considered as the partnership firm (The General Partnership, 2010). In a partnership firm the all the business decisions are taken by the conformance of all the partners. In this scenario, Lou and Jose are the main controllers and their partnership is general partnership but Miriam would not have any control because he is giving money in to earn profits only (Liability for partnership debts, 2010). According to the taxation policy of USA, in a partnership firm the tax will not incur on profit before distributing to the partners. In partnership business entity, the tax would be paid by the individual partners after distributing the profit among them (The General Partnership, 2010). According to the common law, in this partnership business entity, the liability of Lou and Jose is unlimited for the business organization because they will manage all the activities and plans of the restaurant but the liability of Miriam is limited because he is investing only capital to start the business. All the partners in this entity are protected from the unlawful and wrong acts (Murray, n.d.). Laws and Regulations to...

Words: 1647 - Pages: 7

Premium Essay

Introduction to Business

...Introduction to Business Introduction to Business American International University Abstract The inventor wants to market his product. He has no knowledge in finance or management skills. He begins to gather information about what it takes to start a business. He learns it’s best to consult with a lawyer or an account about regulations, taxes, job offers and legal matters. The three different business organizations which are, sole proprietorship, partnership and corporation. Making the decision which organization would best help him succeed and serve his customers. Introduction to Business Starting a business is important to seek a lawyer or an accountant. Having knowledge on the legal forms of business will help the business owner with regulations for the locations were you would open his establishment, and how to prepare their yearly taxes. Research the location for information on the culture that occupies the area and know what kind of products they like and want. It would be beneficial for your customers and profitable for the business owner. Also by having a business in whatever location it will open up job opportunities for the people. (AIU Online Course Material) An inventor enjoys doing little jobs around the house by, cleaning, fixing minor repairs and remodeling. He has a product that he wants to market, but has very little knowledge on financial and management skills. He doesn’t have much money to start his business. He...

Words: 906 - Pages: 4