of the funds that they needed. In addition, to the release of funds a company would have to look to see what type of business organization they would like to use for ones unique service or product. Consideration needs to be taken into account for legal, tax, accounting, and other implications when a business owner makes a decision about one of many types of business. Four types of business organizations are sole proprietorship, partnership, corporations, limited liability partnerships. Based on this
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of Business The type of business may not be the first question a new or potential business owner contemplates. It is, however, a question that must be carefully addressed because of the tax, managerial, legal and liability impacts that the business formation has. There are a number of legal forms that a business can take. The most common are sole proprietorship, general partnership, limited liability company or LLC, and C or S corporation. Sole Proprietorship Sole proprietorships are probably
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SPECIAL POWER OF ATTORNEY Know all men by these presents: That I/We, _______________________________________, Filipino, married/single, of legal age/s, with residence and postal address at ____________________________________ do hereby NAME, CONSTITUTE, and APPIONT ________________________________ to be my/our true and lawful ATTORNEY-IN-FACT for me/us , in my/our name, place and stead, to do and perform the following special powers, to wit: 1. To transact with the 8990 HOUSING DEVELOPMENT
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proceeding that the parties volunteer to. During this proceeding, the lawyers present a shortened version of their case to two representatives. These representatives have the authority to settle the dispute at hand. (Cheeseman, p46) The recommended legal course of action would be to decide upon arbitration or mediation. The amount of the dispute is $5,000 and going to trial could cost a lot more than that. By choosing arbitration and mediation, the parties are able to still present their
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The original case of George Spinner (represented by Housing and Urban Development (HUD)) vs. Reno Housing Authority centered on Mr. Spinner alleging that the Reno Housing Authority had not properly accommodated his handicap and had disallowed a deduction from his expected rent contribution. This specific deduction was a “medical” allowance that allowed Mr. Spinner to eat at a local restaurant for one of his meals per day. Mr. Spinner has a severe case of Tourette’s syndrome, and also has a patch
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ANALYTICAL JURISPRUDENCE (LEGAL POSITIVISM) Synopsis: (i) Socio-economic and historical context on which it arose. (ii) Positivism in Philosophy – the important founder Augustine Cômte. (iii) Its expression in Law – Analytical Legal Positivism. (a) Different aspects of Legal Positivism (b) John Austin (c) Neo-Positivist Trends (aa) Hart’s Concept (bb) Linguistic Trend (iv) Kelsen’s Pure Theory of Law (v) General Appraisal and Critique (1) Socio-economic and historical
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Carolina case law. Rules “In reviewing a N.C. R. Civ. P. 12(b)(6) motion, a court must determine whether, as a matter of law, the allegations of the complaint, treated as true, are sufficient to state a claim upon which relief may be granted under some legal theory, whether properly labeled or not. The trial court may grant this motion if there is a want of law to support a claim of the sort made, an absence of facts sufficient to make a good claim, or the disclosure of some fact which will necessarily
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regardless of creation date. LEGAL HOLD A legal hold suspends all document destruction and supersedes all procedures under this Policy. The purpose of a legal hold is to preserve and protect appropriate records under special circumstances, such as litigation, or when litigation is reasonably anticipated, or a government investigation. All employees and Board members will be notified by the President of the Premier College or his or her designee when a legal hold is required, and
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interest in participating in its operation or management. Therefore, I believe a limited partnership would best accomplish Mrs. Jackson’s business goals. A limited partnership is a hybrid of a general partnership and a company. It is a separate legal personality and those who participate as limited partners have limited liability (Hay, 2008, p.1). Anyone can be a partner in a limited partnership (Hay, 2008, p.1). A limited partnership must have at least one general partner and one limited partner
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Property Law Property Law Joe faces heavy legal penalties first for operating his demolition business illegally. Every business, whether the sole proprietorship, partnership or Limited Corporation must be registered with the registrar of businesses. A sole proprietorship is the simplest form of business, but also the corporate law requires it to be registered. Every state in America requires the owners of the sole proprietor to register the business under a certain name and obtain
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