Legal Underpinnings of Business Law
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. Create a matrix that lists each business, and compare and contrast your personal liability exposure as an owner as a result of the lawsuit.
- For each business entity, analyze how you might limit your liability exposure as an owner.
- Describe a business 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 assignment.) Examine the best business organizational form for the business that you have described, including in your examination personal liability exposure, management, taxation, and ease of formation.
1. Submit a four- to five-page paper (not including title and reference pages).
2. Your paper must be formatted according to APA style as outlined in the approved APA style guide.
3. You must cite at least three scholarly sources in addition to the textbook.
Here is the textbook that we are using:
Business Law for Managers by Gwen Seaquist
Copyright © 2012 Bridgepoint Education, Inc.
CHAPTERS
- Please read the following chapters in: Business Law for Managers:
- Chapter 1: The Civil Law and Common Law Traditions
- Chapter 4: Business Ethics and Conflict Management
- Chapter 27: Principal-Agency Law
- Chapter 28: Sole Proprietorships and Partnerships
- Chapter 29: Limited Partnerships
- Chapter 30: Corporations
- Appendix A: The Constitution of the United States of America
