Legal Underpinnings of Business Law OMM 670: Legal Environment February 25‚ 2013 Legal Underpinnings of Business Law Business | Type of Business | Liability Exposure | Compare | Contrast | Tinker’s Home Security Service | Sole proprietorship | Unlimited | Monetary rewards are from both the Proprietor & business | Sole Liability | Tinker & Tailor’s Home Security Service | General partnership | Unlimited | All partners are responsible whether silent or active | If you are
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because I sent Delilah to act on my behalf and according to agency relationship it clearly states that in a principal-agent relationship‚ the parties agree that the agent will act on behalf and instead of the principal in negotiating and transacting business with third persons (Roger LeRoy Miller‚ 2008). An agent id empowered to perform legal acts that are binding on the principal and can bind a principal in a contract with a third person (Roger LeRoy Miller‚ 2008). There are other principles that can
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The Legal Environment of Business Week Four Chapter Questions 17-3. Daniel is not liable for the debt Rubya defaulted on. The contract did not make Rubya a partner‚ even those she was given profit sharing and management responsibilities‚ she did not poses any ownership of the business. Also under UPA 202(c)(3) no presumption of partnership is made since the profits are wages of an employee or for the services of an independent contractor. Not to mention Daniel did not have any knowledge of
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Law Midterm Chapter 13- The Agency Relationship (Pg. 297) • Agency: a relationship that exists when one party represents another party in the formation of legal relations Pg. 298 • Agent: a person who is authorized to act on behalf of another • Principle: a person who has permitted another to act on her behalf • Agency is a common relationship as is shown in the following examples: o A sports agent negotiates a multimillion-dollar deal on behalf of a hockey player
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(Second) or Agency (an authoritative summary of the law of agency) defines agencies as fiduciary relationships • Fiduciary – (adj) involving trust and confidence • Agency relationships commonly exist between employers and employees • Agency relationships can also exist between employers and independent contractors Employer-Employee Relationships • Normally‚ all employees who deal with third parties are considered to be agents • Employment laws apply only to employer-employee relationships‚
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University of Phoenix Material Business Forms Worksheet There are seven forms of business: sole proprietorship‚ partnership‚ limited liability partnership‚ limited liability company (including the single member LLC)‚ S Corporation‚ Franchise‚ and Corporation. 1. Research and provide three advantages and three disadvantages for each business form. 2. Provide a 100- to 200-word summary in which you provide an example business that you would start for each form. What is legally necessary to file
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but not all workers are employees‚Broadbent v Crisp and Halawi v WDFG UK Ltd applied‚ and Equality Act 2010 s.83(2) considered. Since the term “employee” is narrower than the term “worker”‚ the rights and liabilities are consequently different in law(Emir‚ 2012). As mentioned‚ a salaried partner can or cannot be an employee‚ which relates to handling member departures‚ tax payment and many other restrictions(Gannon‚ 2014). However‚
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Business Organization and ADR Business Rrganization and ADR Nicole Christopher LAW575 Week 2 Professor Sonja Dickens June 8‚ 2015 Summary Industry Outline Selections for Practices of Business Company Process Choice Aids Disadvantages What is ADR? ADR Approaches of Arguments Resolution Negotiation Why Negotiation? Proceedings Implication Industry Outline Machinery Resolutions Maintained and controlled by a individual Association Computer Purposes Networking
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Question 2 Can Paul take any legal action against Derek? Did Derek breathe the contract made between him and Paul? A contract is agreement concerning promises made between two or more parties with the intention if creating certain legal right and obligation upon the parties to that agreement which shall be enforceable in court law. The Trade practices act 1974 (Cth) particularly s52 cover the contract law: seven elements to create a simple contract‚ which are listed as the following: * Intention
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Court Sebastian F. Oasay‚ Jr. vs. Palacio del Gobernador Condominium Corporation and Omar T. Cruz‚ [G.R. No. 194306‚ February 6‚ 2012.] LINK: http://lexoterica.wordpress.com/2012/03/05/february-2012-philippine-supreme-court-decisions-on-labor-law-and-procedure/ Appeal; factual finding of NLRC. Findings of fact of administrative agencies and quasi-judicial bodies‚ which have acquired expertise because their jurisdiction is confined to specific matters‚ are generally accorded not only respect
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