Week 1 assignment legal underpinnings of business law

Written Assignment:  

The paper must be four to five pages excluding title page and reference pages, following APA format.

Answer all parts of the following question:

1. Imagine that you own each of the following businesses:

Tinker’s Home Security Service (sole proprietorship)

Tinker & Tailor’s Home Security Service (general partnership)

Tinker & Tailor’s Home Security Service (LP)

Tinker & Tailor’s Home Security Service, Inc. (corporation)

Tinker & Tailor’s Home Security Service, LLC (LLC)

The businesses are being sued for breach of contract. In a chart that does not exceed ½ of a page, compare and contrast your personal liability exposure as a result of the different lawsuits. In one paragraph, discuss how you might limit your liability exposure within each particular business organizational form.

2. After completing the first part of this exercise, describe one business (non-profit organization to counsel young ladies) that you may own some day or that you currently own. (Even if you never plan to own a business, pretend as if you will do so for the purposes of this question.) Identify the best business organizational form for the type of business that you have described, considering personal liability exposure, as well as management, taxation, and ease of

The Nature of Law 

The sources of American Law are:

·         Constitutional Law

·         Statutory Law

·         Administrative Law

·         Case Law

 Constitutional law is derived from the U.S. Constitution and the various state constitutions.  The supreme law of the land is the U.S. Constitution and it takes precedence over state constitutions.  State constitutions are supreme within their own individual state borders as long as there is no violation or conflict with the U.S. Constitution or a federal law. 

 Statutory law is comprised of statutes and ordinances enacted by federal, state, and local legislatures.  These laws may not violate the U.S. Constitution or the applicable state constitution. 

 Administrative law is derived from decisions, rules, and orders from administrative agencies.

Case law is comprised of the various decisions arrived at by judges for cases through interpretations of statutes and regulations.

In a civil proceeding, the party bringing the action or suit is commonly referred to as the plaintiff and party against whom the suit is brought is commonly referred to as the defendant.  

The Resolution of Private Disputes  

Alternative solutions have been offered to litigation in an effort to reduce time and effort.  The alternative measures fall under a broad category referred to as alternative dispute resolution (ADR). 

Methods include:

·         Mediation

·         Arbitration

·         Online Dispute Resolution

 

 

Business and the Constitution  

Business decisions may be impacted by the following areas of law:

 ·         Contracts

·         Product Liability

·         Intellectual Property

·         Sales

·         Negotiable Instruments

·         Creditors’ Rights

·         E-Commerce

·         Professional Liability

·         Agency

·         Torts

·         Business Organizations

·         Courts, Court Procedures  

Constitutional law is the law expressed in the U.S. Constitution and the various state constitutions.  The U.S. Constitution is the supreme law of the land (Article VI).  A law that is found to be in violation of the Constitution is unconstitutional and unenforceable.  The Tenth Amendment reserves to the states all powers that are not given to the federal government.  Each state has its own constitution and it is supreme within its own borders to the extent that it does not conflict with the U.S. Constitution.  

Business Ethics 

It is important for one to have solid foundation of business law and the legal environment; however, this alone is not enough.  One must also understand how to act in business dealings and transactions.  This is known as business ethics.  Ethics is basically the study of what is considered to be right or wrong behavior.  It focuses on moral principles and concepts such as fairness and right or wrong.  Business ethics deals with all of this in the business environment.  Business ethics is important to the longevity of a company as well as the overall well-being and self-value of the officers, directors, and employees.   

One of the most important ways to establish an effective ethical tone within the organization is to create an ethical code of conduct.  Distribute it to everyone. 

 

 

References  

Cross, F. & Miller, R. (2009). West’s Legal Environment of Business. Mason, OH, Thomson South-Western.   

 

Order a unique copy of this paper
(550 words)

Approximate price: $22

Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our Guarantees

101papers.com is always working towards customer satisfaction. Our professional academic writers always aim at producing comprehensive papers that possess quality and originality at pocket-friendly prices. Students are assured that all their private information is safe with us.

Money-Back Guarantee

101papers.com provides a system where students can request for money-back in case they cancel the order or in the rare instances of dissatisfaction. The refund policy adheres to the company’s term and conditions on money-back.

Read more

Zero-Plagiarism Guarantee

While providing the best professional essay writing services, we guarantee all our students of plagiarism-free papers. All papers produced by our professional academic writers are checked against all web resources and previously completed papers to avoid plagiarism.

Read more

Free Revision Policy

In our urge to provide the best professional essay writing services, we guarantee students of free revision policy. The free revision policy is a courtesy service where students can request for unlimited for their completed papers. We always aim at achieving 100% customer satisfaction rates. The free revision policy is one among many of our major advantages.

Read more

Privacy Policy

At 101papers.com, every student is entitled to total security. Our professional academic writers are always committed to protecting all private information of our customers. We do not share any personal information with third parties. Additionally, we provide safe systems for all online transactions.

Read more

Fair-Cooperation Guarantee

Working with us is the greatest step towards achieving all your academic goals. We always deliver the best professional essay writing services as promised. We, therefore, expect all students to work cooperatively with us, as we work towards achieving our goal, your satisfaction. This way, all services will be delivered accurately and on time.

Read more

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency