Acme Fireworks: Contract Law

All the Associates needed now to get the factory up and running were a large number of factory

An Entrepreneur is a person who forms and operates a business. Entrepreneurs form and start companies by themselves, or with partners. Most of the time companies which are started by entrepreneurs are relatively small in size, but some grow into huge corporations, such as Microsoft which is owned by Bill Gates. Entrepreneurs have four different options when starting a business, which include a sole proprietorship, Partnership, limited liability company, and also a corporation. Each form has its advantages and also disadvantages depending on what the type of business is, and also what service it provides.

They also fired four workers who joined the union in Texas. “They have zero tolerance,” exclaimed management consultant Martin Levitt. There’s nothing that the workers can do, even a lawsuit can not help unless you want to spend years in court. “It’s a long process,” McLaughlin concedes. The success of the organizations depends on the worker’s ability to influence more than just the stores employees, to join unions and help fight for their rights.

Before deciding to purchase a business, in this case one must weigh the pros and cons of purchasing an existing business. If I were interested in hardware and construction, this would definitely be an

Change occurs all the time in organizations, it is the one thing that is always consistent. In order for an organization to stay relevant they must re-invent themselves in order to continue to satisfy their customers’ needs. My goal in this paper is to share about an organization called Acme Fireworks and to determine if the laws that these businesses will be governed by, analyze the contracts, apply the five essentials elements of an enforceable contract, explain the potential liability if a spectator is injured, discuss the different employment types relevant to this company, and explain why they should not operate as a sole proprietorship.

There are many other forms of business entities available to entrepreneurs, the main type are sole proprietorship, general partnership, limited partnership, limited liability company (LLC), and corporations.

There are so many options available as to how they can structure the new business. The appropriate business entity for any individual(s) will depend on their particular facts and circumstances.

As Acme Fireworks operates under the auspices of a sole proprietorship, the owner is empowered to offer and accept contracts. In this case, because the owner was offered fireworks display contracts, accepted, and decided on price with the intention of entering into a legally binding contract in full possession of his or her faculties, the contract is binding, and the proprietor is legally obligated to follow through on supply.

The first issue to learn is the employment relationships are presumed to be “at-will” in all U.S. states except Montana. The U.S. is one of a handful of countries where employment is predominantly at-will. Most countries throughout the world allow employers to dismiss employees only for cause. The training should first define “At-Will”. According to (Pound, 2010),

The ability to measure the effectiveness of a combined At-Will Employment doctrine that is accompanied by a strong employee termination policy is important. Measuring the new policies and how they reflect the impact of both federal and common law on the doctrines coverage is very noteworthy. Consequently, organizations can proficiently measure the return on their investment for the cost of adjusting their termination policies pretty easily. When companies minimize turnover by reducing terminations, and in particular decreasing wrongful terminations they are ahead of the game.

Opposition from Unions in different subsidiaries against the layoff could cause serious problems like high severance package and possible strikes

In setting up a new business the first step is setting up the best business structure for the need of the business. There are many different things that need to be looked at in order to determine the correct entity that will be used. Will there be partners is a big question in this determination, another questions which is the most correct for the business legally. Another consideration needs to be the legal liability as well as the tax liabilities in considering the best choice for the entity of the business.

1. For the following types of undertakings, which contract modes are most appropriate? Be prepared to explain the rationale behind your choice.

This change is going to effect the amount of jobs available for pyrotechnicians but in return they could work around this by figuring way to reducing the total cost of fireworks but still keeping a decent timed and

After the creation of a business plan, the next step to operating a business is the selection of an appropriate business structure. Different legal forms of business ownerships affect different managerial and financial factors from the business names to the tax obligations (Gregory, n.d.). The most common forms are sole proprietorship, partnership, cooperatives, and corporations. There are different types of corporations in the business world, but the two most general corporation types are S Corporation and Limited Liability Company (LLC) (Ferrell et al., 2013). The sole proprietorship is the easiest and most basic form of business ownership. It is owned and run by one individual, which is the proprietor. The individual is entitled to all profits and is responsible for all the business’s