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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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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M1 – Contrast the ownership and purpose of two different business organisations. John Lewis Zebs Type of ownership John Lewis Partnership’s seven principles define how we run our business. They are as relevant today as they were when they were set out by our founder‚ John Spedan Lewis‚ in our constitution. Zebs is owned by one person which is called a sole trader as they run the business by themselves and don’t count on other people Purpose The Partnership’s ultimate purpose is the
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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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ADMINISTRATIVE LAW ASSIGNMENT – I RULE OF LAW IN INDIA ARUSHI LOHIA R.NO – 013 DIVISION – A E-MAIL – Arushi.lohia@symlaw.ac.in Rule of Law Aristotle said two thousand years ago‚ “The rule of law is better than that of any individuals”. The rule of law is a system of rules and rights that enables fair functioning of the societies. The World Justice Project‚ an initiative of the United Nations defines this system as one in which the following four principles are upheld1: 1. The Government and
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BUSINESS ADMINISTRATION & INTERNATIONAL BUSINESS In the literal meaning‚ Business refers to an organized approach to providing customers with the goods and services they want. Business Administration has over the years taken the form of a formal field of knowledge‚ besides engineering medical and even closely-related Economics. In the 20th century‚ with the development and growth of business schools in America and Europe‚ the dynamics of business administration changed. With more research conducted
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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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Monism and dualism in international law From Wikipedia‚ the free encyclopedia Jump to: navigation‚ search The terms monism and dualism are used to describe two different theories of the relationship between international law and national law. Contents[hide] * 1 Monism * 2 Dualism * 3 Examples * 4 A matter of national legal tradition * 5 The problem of “lex posterior” * 6 References | [edit] Monism Monists assume that the internal and international legal systems form a unity. Both
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Legal Forms of Business Details Due Points Objectives 1.1 Explain the major components of the legal system. 1.2 Differentiate between the legal forms of business. 1.3 Differentiate among nonjudicial methods of alternative dispute resolution. Readings Read Ch. 1 of Business Law: Legal Environment‚ Online Commerce‚ Business Ethics‚ and International. Readings Read Ch. 2 of Business Law: Legal Environment‚ Online Commerce‚ Business Ethics‚ and International
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Agency‚ with special focus on the liabilities involved between the parties. The Law of Agency: General Concepts Agency Laws comes under the purview of Commercial Law. The Indian Contract Act 1872‚ Section 182 defines an Agent as “a person employed to do any act for another or to represent another in dealings with third persons”. The other person to whom the agent is employed to is said to be the Principal. The law of agency helps form the different contractual‚ quasi-contractual relationships
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