business ownership. A sole proprietorship is a business that is owned, and usually managed, by a single person. A partnership is a voluntary arrangement under which two or more people act as co-owners of a business for profit. A corporation is a legal entity created by filing a document with a state agency also known as the articles of incorporation. A corporation is considered to be a separate and distinct from its owners, who have a limited liability for the debts of their company. A limited liability
Words: 759 - Pages: 4
thoroughly consider whether a sole proprietorship, partnership, Limited Liability Company or an S corporation is most suitable for the consultant business, the founder must first comprehend the advantages and disadvantages, while being aware of the legal, liability, and tax implications, of each.
Words: 1630 - Pages: 7
A REACTION: EXAMINATION of WITNESSES In the study of law, learning theories inside the four walls of our classroom is a great foundation to start understanding our laws. However, the knowledge we have would be more appreciated and internalized upon experiencing the real application of these laws in the real world. Remedial law, is indeed, one of the subjects that we would appreciate more by letting us immerse into the courtrooms and be able to observe firsthand how the procedural rules of court
Words: 3925 - Pages: 16
of the most common forms that may be right and profitable for the business. The three legal forms are: (sole) proprietorships, partnerships, and corporations. Sole proprietorships are owned by an individual who makes all the decisions about the business and therefore, pockets the revenue that is made. Sole proprietorships are the most common form of business that represents one individual owner with few legal responsibilities or requirements. Other advantages of forming a proprietorship is that
Words: 716 - Pages: 3
establishment for companies Daily Mail – case (C-81/87) ECJ made a distinction between primary establishment and secondary establishment Primary establishment To move the real seat of the company to another member state with maintaining the original legal personality (original company form) is not possible since there are serious differences in company laws of the member states A company should end its business in the original member state, then form itself again under the laws of the
Words: 807 - Pages: 4
Legal Forms Of Business Susan Greene American Intercontinental University Busn 105 5/4/13 Legal Forms Of Business Susan Greene American Intercontinental University Abstract The main purpose of writing this document is to explain all of the legal forms of business and to also explain the three different organizations that there are in a company and all of the similarities and differences that are in each organization. Being an inventor the first order of business
Words: 579 - Pages: 3
assets that aren't protected by state exemption laws. However, Mr Ravi later incorporated the business and set up a company, Ravi Carpet Sdn Bhd in April 2011. When a company is incorporated it is vested with legal personality. This means that in the eyes of the law, a company is treated as a legal person. When a company becomes incorporated under the Companies Act 1965, the following occurs: - The company is a body corporate with the powers of an incorporated company; - It may sue and be sued in its
Words: 435 - Pages: 2
Bus-101 Kevin Lentz 06/2013 Chapter 1 Rooftop Restaurant and Lounge will enter into a market with perfect competition. With perfect competition Rooftop Restaurant and Lounge will have an infinite number of consumers with the willingness and ability to buy our products at a certain price. It would also have an infinite amount of producers with the willingness and ability to supply the products at a certain price. Rooftop Restaurant and Lounge is a new fine dining restaurant and lounge
Words: 1631 - Pages: 7
Dodson Vs. Shrader 824 S.W. 2d 545 Parties of the Case • Defendant is Shrader • Plaintiff is Dodson Case Controversy • Was the contract voidable to Dodson, and should Dodson receive his money back from Shrader Facts of the Case • Defendant is Shrader • Plaintiff is Dodson • Dodson was 16 years old • Dodson paid with borrowed money his girlfriend’s grandmother • On April 7, 1987 Dodson purchased a truck from plaintiff for $4900 • On December, 1987 during a mechanical check up Dodson
Words: 463 - Pages: 2
GIST OF THE FINDINGS by S.U.Khan J. 1. The disputed structure was constructed as mosque by or under orders of Babar. 2. It is not proved by direct evidence that premises in dispute including constructed portion belonged to Babar or the person who constructed the mosque or under whose orders it was constructed. 3. No temple was demolished for constructing the mosque. 4. Mosque was constructed over the ruins of temples which were lying in utter ruins since a very long time before the
Words: 14259 - Pages: 58
