the shop‚ Roz and Sara are a. independent contractors. b. not Trina’s agents or employees‚ or independent contractors. c. Trina’s agents and employees. d. Trina’s employees only. 3. Refer to Fact Pattern 17-1. Trina hires Unity Cleaning Company to clean the carpets of her shop. Trina gives Unity instructions as to what needs to be cleaned and when. Unity is a. an independent contractor. b. not Trina’s agent or employee‚ or an independent contractor. c. Trina’s agent and employee.
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creating a separate business or trade name isn’t necessary. Sole proprietorship is also known as "proprietorship". There is no separate legal entity created by a sole proprietorship‚ unlike corporations and limited partnerships. Consequently‚ the sole proprietor is not safe from liabilities incurred by the entity. The debts of the sole proprietorship are also the debts of the owner. However‚ all profits flow directly to the owner of a sole proprietorship. The benefit of the sole proprietorship
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the industrial revolution was the steam engine which increased efficiency and helped soil to remain fertile so that livestock and crops would eventually produce faster. Legal Protection of Private Property-Legal Protection of Private property was limited and only obtained by those who were landowners. These landowners were able to fence off their property and stop others from coming in and making profits off their crops. Those who were not landowners or sharecroppers were unemployed and had to migrate
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disadvantage to a sole proprietorship is that your personal finances and those of your business are one and the same. You cannot file bankruptcy for your business without filing personal bankruptcy. You cannot expect to shield your personal assets from liability for the debts of the business‚ nor can you avoid being sued personally for negligence due to some problem with your business. For example‚ if your sole proprietorship cannot pay its bills‚ your personal credit card will probably come into use. And
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Ch 40 ‚ PC 7 : .Issue: Was Carpenter liable for the payment of $85‚000 As a general partner ? .Rule :In limited Partnership ‚ General partners have an unlimited liability for the partnership .application : Carpenter ma argue that she thought she was a limited partner ‚ it can be rejected by 2 fact : firstly she was an experienced business woman who had served on the board of directors of a bank so know all the rules and applications
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Columbia. Currently‚ there are no underperforming assets in their portfolio; the weighted average DSC for the portfolios is 1.63 with available cash flow of $8.8M to flow through the cash waterfalls. In addition‚ Roberts Property Management Company‚ an affiliate of the developer‚ has over 15 years of experience in managing multi-family housing and specializes in luxury apartment building management. Location Market The subject is located in the Sutton Place South area of Manhattan‚
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• Liquid Assets totaling $200‚000 (excludes property‚ retirement funds‚ pledged stocks and securities in family‚ non-public‚ or closely held companies). • Access to adequate working capital to meet the cash flow requirements of a pizzeria. • Good or better credit rating that will satisfy our current vendor application process. • Ability to obtain financing to develop a pizzeria and grow quickly
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Subject: Case Analysis- Fe’nix del Sur‚ LLC I. Problem Statement The company is evaluating whether to sign a contract to supply large amount of replicas to mass merchandiser in order to gain profits of $4 million in addition; also have the opportunity to expand company’s position by carrying wider lines of products. II. Industry Analysis Fe’nix del Sur is mainly competing in the industry offering authentic artifacts and replicas. The two main types of end-users are artifact
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Consolidated.9* The plaintiff was the transferee of a share certificate issued under the seal of the defendant company. The certificate was issued by the company’s secretary‚ who had affixed the seal of the company and forged the signatures of two directors. The plaintiff contended that whether the signatures were genuine or forged was a part of the internal management and‚ therefore‚ the company should be estopped from denying genuineness of the document. But it was held that the rule has never been
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existence of a limited liability company means the: I. company’s members are liable for only a limited amount of business debts II. company has a legal existence distinct from its owners III. company may raise large amounts of funds by issuing shares. | I only | | I and II only | | II and III only | | I‚ II and III | 2. The two main types of companies permitted to be registered under the Corporations Act are: | a private company‚ and a proprietary company | |
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