start a business venture‚ many of them start with a sole proprietorship. A sole proprietorship usually involves a single person who runs a business on his or her own. Sole proprietorships are small businesses that often take off to form larger business entities when the owner desires to do so or when the right opportunities are presented. Some of the disadvantages of having a sole proprietorship are the simplicity of operating the business‚ ability to have complete control over business affairs‚
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Business Structures Glenn Wilson Boerstler‚ II FIN/571 Corporate Finance August 18‚ 2014 Professor Susanne Elliot A business can be organized in one of several ways‚ and the form its owners choose will affect the company’s’ and owners’ legal liability and income tax treatment. Business structures are selected based on the type of business and the intentions of the owner or owners. According to the Small Business Administration‚ there are six types of business structures that are based on the needs
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come in many different sizes‚ sectors‚ ownership and scale. The size of the business depends how many employees there are. For example they’re categorised into micro‚ small‚ medium and large. Micro organisations have a maximum of 9 employees‚ small organisations have a max number of 49 employees‚ medium organisations have a max of 249 employees and large organisations have a max number of 250 employees. The scale of a business depends whether it’s local‚ regional‚ national or global. The different sectors
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Chief Justice Truepenny’s opinion. He argued that the Law of the Commonwealth is at stake if we try to textually apply the law in this case. According to him‚ the defendants when trapped in the cave were outside the jurisdiction of Commonwealth of Newgarth. VERDICT: In his verdict‚ he set aside the verdict of the Trial court and held that purposive construction should be given to the statutes. ANALYSIS Justice Foster did not believe that the law compels the monstrous conclusion that the defendants
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When beginning a business‚ it is extremely important that the owners of the business decide the organizational form that will be beneficial to maximize the value of the firm. The owners must consider the size of the business‚ the taxation of the business‚ the liability of the owners and the ability to raise capital to finance the business (Parrino‚ Kidwell & Bates‚ 2012). The owners will then choose one of the 3 different forms: sole proprietorship‚ partnership or corporation. Sole Proprietorship
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of the Common Law system of rights and duties. Judicial precedent is concerned with the major of case law in the common law system‚ it had been described as the legal experience from lawyer’s term. The term of ‘precedent’ there is an implication that what was done before should be done again and which mean a good guide to follow and trying to solve a problem is to see what examples exist where this or similar problems have been tackled before. If a case then had decided point of law it will be logical
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QUESTIONS: 1. The case study references one state statute. Identify it and explain what it prohibits. 42.09 (a) (3) Prohibits “desecration of a venerable object” 2. Which branch of government (executive‚ judicial‚ or legislative) created the state statute? It’s legislative 3. The passage above also discusses one court case. Who were the parties involved in the case? State v. Johnson 4. The case was heard by three lower courts before it reached the United States Supreme Court
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does a judge play in a legal system? Does he/she make law or merely play a role in interpreting law? Discuss. A judge’s role in a legal system would be more of playing a role in interpreting law as compared to making a law which would not be a main role of the judge itself. As laws will fall under many different parts‚ the written law and unwritten law will be the basic ones that separate the two. Written laws will be such as firstly‚ the constitution which is the
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Law coursework on the English Legal System and Corporate Criminal Liability. Question 1 a) The sources of the English legal system are: • Case law is judge made law. • Acts of Parliament creates a new law or changes an existing law. It is the most important source of law. Acts of Parliament are made by the Parliament‚ which consists of the House of Commons and the House of Lords. • Statutory Interpretation is the process by which judges interpret and apply acts of parliament. In order to
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Business Studies PART 1 A) Social Function of a business: [Choice] Businesses provides goods and services to satisfy individual needs and wants by giving the choice of selecting something among a variety of products. Economic Function of a business: [Employment] By creating or providing employment for individuals this minimises the unemployment rate. B) Unincorporated enterprises is when the enterprise has NOT gone through the process of not separating the owner from its
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