Outline for The Final Paper
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Outline for Final Paper
Every sector is governed by some kind of law and the business sector is not an exception. Business law is an important element of the discipline. It helps in protecting liberties and rights, maintaining orders, resolving disputes, and others (Wevers, 2021). ACME Fireworks has been governed by certain business laws that the manager thinks should be changed to improve the company’s operations. The company began as a sole proprietorship and since then, the owner has never changed its identity. Since the company has received several inquiries from other organizations requesting for creation of several fireworks displays regularly. The owner is anticipating that new employees will need to be hired, but he is worried that if the large orders for fireworks displays do not continue, the company will not have the funds to pay the new employees. The Owner also thinks of changing the business identity but does not know which one to use. This paper provides the business owner with useful information to enhance the effective management of the organization.
Contractual Laws and Governance
This is the first subheading based on the provided question. Under this subheading, the writer will discuss two laws: the common law and the Uniform Commercial Code (UCC) (UpCounsel, 2019). The writer will begin by definition of each other laws and the context in which they are applicable. The writer will, then, determine the law, between the two, that will govern the contract (UpCounsel, 2019). Detailed discussion as to why that kind of law is deemed appropriate to govern the contract will be provided for a clear understanding of the concept.
Contractual Elements
Under this subheading, the writer will provide a succinct explanation as to whether or not the business owner formed a contract with the business. Additionally, the writer will identify if all or some of the five essential elements of an enforceable contract were applicable in that context (JEC, 2022). The proper definition of each of the five elements will be provided and liked to the situation to determine whether they were considered in what is thought to be a contract between the business owner and the other companies (JEC, 2022). The five essential elements that will be discussed in this section include offer, acceptance, consideration, legality, and capacity.
Personal Liability to ACME Fireworks in Case of an Accident
The writer will begin by defining and discussing personal liability and how it is applicable in the context of ACME Fireworks company. The writer will discuss some of the strategies or measures that ACME Fireworks should put in place to ensure the safety of workers and other people (Wevers, 2021). Also, the writer will explain some of the legal measures that might arise and influence ACME Fireworks in case of an accident related to the fireworks displays. Performing fireworks displays can cause a personal liability to ACME fireworks because nearby operators are exposed to danger from astray fireworks (Beatty et al., 2018). Some measures must be put in place to compensate employees based on the legal and organizational guidelines.
Employment Types and Relationships
Here, the writer will discuss various types of relationships relevant to agency laws. It will also entail an analysis of the advantages of every type-specific to ACME Fireworks. Since the 15 employees of ACME Fireworks may not be able to accomplish all the tasks due to too much workload, the company may hire other employees (Gitman et al., 2018). Hence, there could be varied employment types and relationships within the company. Therefore, this paper will look into these types and their relevance and advantages to ACME Fireworks (Gitman et al., 2018). Employment can be permanent, contracted, casual, or part-time.
Recommendation of A New Business Entity
This section will explain why ACME Fireworks should not operate as a sole proprietorship. The writer will then recommend a new business entity and provide a rationale for that type of identity (Wevers, 2021). To be more specific, the writer can explain some negatives of sole proprietorship and how the newly recommended identity will address the negatives. The company should no longer operate as a sole proprietorship because it now secures jobs from other companies. One major disadvantage of a sole proprietorship is the lack of separation between business assets and personal assets. Regarding liability protection, since sole proprietors don’t need to register as a business with their state of operation, they also do not get any of the benefits that come from having a legal business entity (Beatty et al., 2018). This section will expound on these issues.
Conclusion
Businesses operate based on specific laws enacted by relevant government agencies. The owner of ACME Fireworks is anticipating some changes. This was an outline of what is supposed to be covered in the final assignment. The subheadings include contractual laws and governance, contractual elements, personal liability to ACME Fireworks, employment types and relationships, and recommendations for a new business entity. This paper has also provided a brief overview of what is to be covered under each topic. The final paper will provide the business owner with useful information to enhance the effective management of the organization.
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