Syntactic entities

PODS: The Evolution of a Small Business Small businesses are very important to the United State economy because 65 percent of new jobs over the past 17 years come from small business (Unites States). Everyone wants to own his or her own business, but having a good idea to start a business is not easy task; however, Peter Warhurst is one of the most successful entrepreneurs who dared to start his business with his three partners: Roy Courtney, David Revelia and Bill Ash. They were once firefighters

Corporate The Corporation form is used to solve the typical problems of the partnership. Incorporating allows a group of owners to act as one. This is similar to the way a partnership is operated as well. Since a corporation is a separate legal entity capable of being sued, it can protect its owners by absorbing the liability if something goes wrong. In a corporation, the owner is allowed to hire

Investigation of the Types of Business Ownership JCC Limited is a private limited company. Other forms of business ownership include: The sole trader. This is the most common form of private sector business. This type of business has one owner who runs the business and may employ any number of people to help. Advantages of being a sole trader include the lack of legal restrictions, the sole trader is able to set up their business relatively quickly. Also all profits

Explaining Basic Accounting Concepts and Business Structures By: Jennifer Powell Topic 1: Identify and describe the sources of generally accepted accounting principles. Identify source hierarchy and explain why the hierarchy is important. Generally Accepted Accounting Principles (GAAP), are guidelines that allow each accountant supervision upon financial reporting. It stimulates a cohesive environment to comprehend all aspects of finances in various business. The standard that FASB has worked identifies

The corporate veil is defined as a legal concept that separates the personality of a corporation from the personalities of its shareholders, and protects them from being personally liable for the company 's debts and other obligations. The corporate veil is pierced through legal decision which treats the rights or duties of a corporation as the rights or liabilities of its shareholders. There are several circumstances in which the courts will consider piercing the corporate veil: 1) fraudulent representation

Sole traders Sole traders are any businesses that are owned and controlled by one person which they are entitled to keep all profits. Examples of sole traders can be hairdressers, newsagents and window cleaners. They do not have a separate legal existence from the business, in the eyes of the law in that they are personally liable for all the businesses debts. This means that if the business can pay someone or pay its debt, that will mean the sole trader will have to use its own personal money. This

On chapter 17 “Small Business Organizations” we learnt about the different types of small business organizations at the eye of the law, sole proprietorship, partnerships and franchises. We’ll focus on the first as it’s the one related to the Case at law we’ll review later. A sole proprietorship is a business owned and operated by one person which is not registered as a corporation or a limited liability company, there is no legal distinction between the individual and the business owner which means

This essay will explain the concepts of separate personality and limited liability and their significance in company law. The principle of separate personality is defined in the Companies Act 2006(CA) ; “subscribers to the memorandum, together with such other persons as may from time to time become members of the company are a body corporate by the name contained in memorandum.” This essentially means that a company is a separate legal personality to its members and therefore can itself be sued and

1a) This assignment is based on Homewares Ltd whose director is Peter. I will be looking at the legal obligations peter has to oblige to as the director of the company. Also I will be advising where they stand legally now the company is facing liquidation. Lastly I will advise Peter on what business type would be most suited to him and the new company he wants to open. Tracey and Tina are also directors of the company so I will be discussing what their roles should contain of as directors To make

Introduction This essay will examine the legal standing of the doctrine of 'separate legal personality ' as it was developed in Salomon v. Salomon & Co Ltd [1897] AC 22. Even though this doctrine is the stone head of the English company common law, the courts introduced several exceptions which undermined the 'veil of incorporation '. The exceptions were firstly introduced in the mid-60s by Lord Denning in Littlewoods Mail Order Stores Ltd. V IRC [1969], and allowed the court to lift the veil