Case Study Of Acme Fireworks

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Acme Fireworks In order to determine the best direction for Acme Fireworks going forward, we must look into the contracts to properly choose the path of this company. We must first establish that the contractual agreements already made are legally binding. Once the revision of the contract is complete, Acme Fireworks will need to reassess its staffing needs to make certain that it can fulfill its end of the contract and avoid any breaches. After all this is analyzed, Acme Fireworks will need to review its current business model as a sole proprietor and evaluate what steps it should take to ensure the growth of the company. To ensure the owner of Acme Fireworks is going to grow his company in the correct way, he must know what regulations his business will be governed by. It will either be governed by common law or the Uniformed Commercial Code (UCC). It is in the best interests of the company, the UCC will govern all Acme Fireworks contracts. The UCC is “an attempt to unify state laws affecting commerce into a single code that all states could adopt to make interstate commerce easier and more efficient” (Rogers, 2012, Unit III). For the betterment of the company, the UCC is the best option for Acme Fireworks. The main reason that makes the UCC a better option is that it is very similar to common law, but with additional features that make the UCC easier to understand and work with. The first part of the UCC that would be beneficial to Acme Fireworks is section 2-205. This section deals with a merchant’s firm offer. This section states, “An offer by a merchant to buy or sell goods in a signed writing which by its terms gives assurance that it will be held open is not revocable, for lack of consideration, during the time stated or if no time is stated for a reasonable time” (Legal Information Institute, n.d.). This will be beneficial for Acme Fireworks when it works with merchants to purchase their goods. Companies always want to find the best deals so that they can make the most profits. This means that Acme Fireworks can have multiple offers from merchants in writing and take the proper amount of time to choose the best possible offer. Furthermore, the amount of time and multiple offers gives

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