INTRODUCTION Liquidation of a partnership can be define as the winding up of its business activities characterizaed by sale of all non-cash assets‚ settlement of all liabilities and distribution of the remaining cash to the partners. It is usually done when the business entity will not continue its activities after the dissolution of the partnership. Maybe the partners already fulfilled their business purpose or the partnership is in financial difficulties‚ that’s why they decided to liquidate it
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AB1301 Business Law 2012/13 Semester 1 TABLE OF CONTENTS CHAPTER 3: OFFER AND ACCEPTANCE ........................................................................................... 1 3.1 Offer ........................................................................................................................................... 2 3.2 Acceptance ................................................................................................................................ 3 3.1 Electronic
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Intro paragraph: An LLC‚ or limited liability corporation‚ is a business entity that combines aspects of a corporation and a partnership. The LLC operating agreement is a document that dictates how the LLC will function. The amount of time it takes to create the operating agreement depends on the specifics of the LLC. Other names: Don’t confuse this document with the articles of organization‚ which may also be known as the certificate of organization or certificate of formation‚ depending on the
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2105AFE – INTRODUCTION TO BUSINESS LAW – Semester 1 2013 LECTURE PLAN Students should complete the readings each week prior to the lecture. Reading references are to the customised text (Gibson‚ A.‚ & Fraser‚ D.‚ Introduction to Business Law Custom Book 5/E (2012) - (ISBN: 9781486010875). | | |Readings | |Week |Topic
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t Justified Discrimination? A Critical Analysis of the Decision in Wilkinson v Kitzinger [2007] 1 FLR 296 by Erin Culley‚ Department of Law‚ University of Greenwich [1] ABSTRACTThe creation of the civil partnership was a clear compromise between the need to recognise a formalised relationship between same-sex couples while still acknowledging the protests of those against the creation of gay marriage. Many were thrilled with the symbolic step taken by Parliament‚ whereas others were appalled at
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LIT1 – Task 1 Part A SOLE PROPRIETORSHIP: A “for profit business” owned and operated by an individual. Owning a sole proprietorship allows an individual to run a business any way they see fit with few state/federal regulations and limited legal formalities. The owner of a sole proprietorship assumes considerable risks by without liability protection and therefore is held personally liable for any judgments against the company and is susceptible to loss of business assets‚ personal property and
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Honorable Chief Secretary‚ Azad Government of The State of Jammu and Kashmir. Distinguished Guests Country Director Save the Children U.K Child Protection Coordinator. Mubashir Nabi Programme Manager Operations. Mubarik Maman. Child Protection Coordinator. Dear Participants I am privileged to speak on topic of “Policy and Legal Aspects of Child Abuse in AJ&K”. Children are considered as one of the most vulnerable group of society. A child needs adequate protection from all sorts of abuses
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Accounting for Partnerships In the business world‚ there are different types of businesses can be classified into various forms of ownership. Some of those forms are a corporation‚ sole proprietorship‚ and a partnership. The form I will be discussing in this paper is called a partnership. A partnership is when two or more people own and operate in a business which also takes part of the responsibility. Our text says that “Partnerships are a popular form of business because they are easy to form
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and Dominic can be ratified by Alex. One of the applicable laws is the Partnership Act 1980. S (1) of this act defines a partnership as the relation‚ which subsists between persons carrying on a business in common with a view of profit. In order to show a partnership‚ one should prove that 1) there is an existence of a business 2) the business is being carried on by two or more people 3) they share profits. A partnership is not a separate legal entity and therefore the partners do not benefit from
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Fab Flowers and Ben and explain any specific legal duties and liabilities of Fab Flowers and Ben in this relationship. Fab Flowers and Ben formed an agency by agreement‚ whether oral or written‚ when Fab Flowers agreed with Ben to represent the partnership in purchasing wholesale flowers in Ecuador. On the two parties’ relationship‚ Fab Flower is the principal because they are employing Ben (the agent) to act on their behalf to purchase flowers for them in Ecuador to be resale. Fab Flowers (Principal)
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