decide to go into business together to promote new recording artists of alternative music genres‚ calling the business “Alternative Universe.” Assume for purposes of the following questions only‚ that they have chosen to operate the business as a general partnership‚ and that the partnership is formed in a jurisdiction that has adopted the Uniform Partnership Act (UPA). Tricky invested $1‚000‚ Macy invested $9‚000‚ and Esthero didn’t invest any capital. Macy also loaned the business an additional
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TOPIC THREE: LAW OF AGENCY * Nature and Creation of an Agent * Duties of an Agent to his Principal * Duties of a Principal to his Agent * Termination of Agency Contract NATURE OF AGENCY What is an agency? Section 135 of Contract Act 1950: “Agency is the relationship which subsists between the principal and the agent who has been authorized to act for him or represent him in dealings with others.” There are two types of agency contracts:- 1. Contract between principal & agent
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This case comes under Law of Agency. Agency Law is concerned with any “principal‚ agent and third party” relationship; a relationship in which one person has legal authority to act for another. Agency involves three parties : • Principal – Mr. Smithfield • Agent – U.K. Rail • Third Party – Pig resort/Care Centre Agency relationship may arise in five ways and one them which arise in this case is “Agency Of Necessity” and the requirements are : • Genuine necessity – there was a delay in delivering
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Rupert Murdoch Information about a phone hacking scandal surrounding Rupert Murdoch and News Corp. can be found daily in almost every newspaper in the country. News Corps.‚ which owned the now defunct News International‚ is in trouble following public outrage that phones of everyday victims were tapped in order to obtain stories for the newspaper’s articles. It seemed at first that the phone hacking of News International was limited to members of the British Royal Family‚ celebrities‚ and politicians
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Shiela Mae BSBA-HRDM 1-6D 3 kinds of business 1 Sole Proprietorship A sole proprietorship places all liabilities for finances and operations on the owner. The owner’s personal property is tied to the business‚ so he assumes a risk against his personal assets should the business experience financial hardship. Annual income tax returns are filed on a Form 1040‚ and the owner must also file self-employment taxes. The profits and losses of the business are reported through the owner and are taxed
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Rupert Murdoch Biography Publisher (1931–) QUICK FACTS NAME Rupert Murdoch OCCUPATION Publisher BIRTH DATE March 11‚ 1931 (age 83) PLACE OF BIRTH Melbourne‚ Australia AKA Rupert Murdoch FULL NAME Keith Rupert Murdoch ZODIAC SIGN Pisces SYNOPSIS EARLY LIFE AND CAREER MEDIA MOGUL LATER CAREER PERSONAL LIFE CITE THIS PAGE Media magnate Rupert Murdoch is the founder and head of News Corporation‚ a global media conglomerate. He created FOX Broadcasting Company in 1986. IN THESE GROUPS FAMOUS PISCEANS
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Business Entities Jessica Perez BUS 311 Business Law Instructor: Janet Fiorentino 12/1/2014 As the manager of Acme Fireworks‚ I need to gather information to help the owner determine whether or not he should continue to be a sole proprietorship or if he should switch to another business entity. I will help him do so by explaining each entity and how they relate to his business situation. I am the manager of Acme Fireworks‚ a fireworks retailer who sells fireworks‚ puts on ground display fireworks
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BUSINESS ASSOCIATIONS OUTLINE I. Overview A. Major Course Themes i. Authority – what is corporation legally empowered to do and at what point is a corporation overstepping its bounds? ii. Responsibility – once authority has been established‚ what are the limitations of that authority – what is the duty of care? iii. Liability – what actions should directors take to insulate themselves and when can they be held liable for breaching duty of
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Legal Underpinnings of Business Law Valarie Murphy-Taylor BUS 670 Marla Muse June 09‚ 2014 Abstract The aim of this paper is to discuss business structure and organization and how liability differs between each organizational form. Society has set standards that govern our interactions with others. In addition‚ though not often obvious to the naked eye‚ most businesses have standards that similar to one another in governing their activities and abilities to function continually
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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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