BUS 311 BUS311 BUS/311 Week 5 Final Assignment

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BUS 311 BUS311 BUS/311 Week 5 Final Assignment

Final Paper Kendra Hammond BUS 311 Business Law I Janet Fiorentino March 5, 2018

Acme Fireworks business started out in the owner’s garage as a sole proprietorship and has been in business for about two years now.

There are now fifteen employees that I currently manage. The company sell fireworks, puts on large aerial displays, as well as ground firework displays. The owner has recently been considering on changing the business entity due to the riseof larger business contracts that have been requested.

He has also taken into consideration that the cost of skilled labor, insurance, and services of fee of the creation of the fireworks displays and the labor to set them off. One of the most recent challenges for Acme Fireworks, is fulfilling new large orders.

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BUS 311 BUS311 BUS/311 Week 5 Final Assignment

Final Paper Kendra Hammond BUS 311 Business Law I Janet Fiorentino March 5, 2018

Acme Fireworks business started out in the owner’s garage as a sole proprietorship and has been in business for about two years now.

This escalation means that the company would need to higher more employees to accommodate all of the services being requested, which also comes with the increase of liability risk. However, if the large orders are not consistent, or do not continue, the company will not be able to afford to financially support an increase in staff.

The owner will need to consider a plan of action to fulfill these orders and be able to afford new staff to adhere to the amount of potential work. Expanding to a larger business entity would be the best move for the company. This will allow the company to fulfill large contracts and negotiate larger contracts.

If the owner does not take advantage of the opportunity to expand, the company may never reach its full potential. When it comes to laws of a business there is a broad range of topics that need tobe discussed.

Before entering into contracts with larger companies, the owner needs to ensure that the company can uphold their end of the contract. Learning about contracts is essential for the owner, manger, and the business itself.

As a company, we must also be aware that there are many types of contracts and steps that both parties must follow before a contract is considered legal and binding. Managing a growing company like Acme Fireworks that is seeking a change entities would be a challenge, but also rewarding.

This is so much to consider, and it vital to determine and understand whether common law or Uniform Commercial Code would apply to the contracts made. The legal aspects are vial when dealing with contracts and other companies essentially with such a risk in dangerous activity.

As the manager, I will be formatting a paper to discuss contractual governance, the elements of a contract, relationships that are relevant to agency law, and various business entities to assist the owner in making an informed decision in regards to the future of Acme Fireworks.

Common Law or Uniform Commercial Code (UCC)

Common law has derived through many years of court rulings, and its roots go back to the early 11thcentury of England (Rogers, 2012). The Uniform Commercial Code (UCC), is an accord of state and federal regulations that govern business transactions between territories and states. (SBA, n.d.). In reference to Acme Fireworks, the company would be governed by

BUS 311 BUS311 BUS/311 Week 5 Final Assignment

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BUS 311 BUS311 BUS/311 Week 5 Final Assignment

BUS 311 BUS311 BUS/311 Week 5 Final Assignment

Description

BUS 311 BUS311 BUS/311 Week 5 Final Assignment

BUS 311 BUS311 BUS/311 Week 5 Final Assignment

BUS 311 BUS311 BUS/311 Week 5 Final Assignment

BUS 311 BUS311 BUS/311 Week 5 Final Assignment

BUS 311 BUS311 BUS/311 Week 5 Final Assignment

BUS 311 BUS311 BUS/311 Week 5 Final Assignment

BUS 311 BUS311 BUS/311 Week 5 Final Assignment

BUS 311 BUS311 BUS/311 Week 5 Final Assignment

BUS 311 BUS311 BUS/311 Law 1 discussion paper

BUS 311 BUS311 BUS/311 Final Outline

BUS 311 BUS311 BUS/311 Week 5 Final Paper

BUS 311 BUS311 BUS/311 Week 5 Discussion 2

BUS 311 BUS311 BUS/311 Week 5 Final Assignment

BUS 311 BUS311 BUS/311 Week 5 Final Assignment

Description

BUS 311 BUS311 BUS/311 Week 5 Final Assignment

BUS 311 BUS311 BUS/311 Week 5 Final Assignment

BUS 311 BUS311 BUS/311 Week 5 Final Assignment

BUS 311 BUS311 BUS/311 Week 5 Final Assignment

BUS 311 BUS311 BUS/311 Week 5 Final Assignment

BUS 311 BUS311 BUS/311 Week 5 Final Assignment

BUS 311 BUS311 BUS/311 Week 5 Final Assignment

BUS 311 BUS311 BUS/311 Week 5 Final Assignment

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