business law - 5161 Words

1. â€Å"The fundamental attribute of corporate personality is that company is a legal entity distinct from the members.†Elucidate the statement .Also specify the important features of a company. Ans.1. A basic management function involving formulation of one or more detailed plans to achieve optimum balance of needs or demands with the available resources. The planning process (1) identifies the goals or objectives to be achieved, (2) formulates strategies to achieve them, (3) arranges or creates the means required, and (4) implements, directs, and monitors all steps in their proper sequence. Alternatively a planning The control of development by a local authority, through regulation and licensing for land use changes and building. .†¦show more content†¦12 Achieves better coordination: planning secures unity of direction towards the organisational objectives. All the activities are directed towards the common goals. There is an integrated effort throughout the enterprise. It will also help in avoiding duplication of efforts. Thus, there will be better coordination in the organization Read more: The fundamental attribute of corporate personality is that company is a legal entity distinct from the members.†Elucidate the statement .Also spe... - The fundamental attribute of corporate personality is that company is a legal entity distinct from the members.†Elucidate the statement .Also specify the important features of a company. 2 . Elaborately explain the essential features of the consumer protection act 1986. Also briefly discuss unfair trade practice and restrictive trade practice as discussed under consumer protection Act? 3 . What are the characteristics of negotiable Instrument? Discuss the ‘privileges’ of holder in due course as per the provisions of the Negotiable Instruments Act, 1881? Also state the important amendment to be incorporated under sec 138 of the act. Ans 3. A negotiable instrument has the following characteristics: 1. Property: The prossessor of the negotiable instrument is presumed to be the owner of the property contained therein. A negotiable instrument does not merely give possession of the instrument but right to property also. The propertyShow MoreRelatedBusiness Law And Ethics : Backoffice Business Brief1862 Words   |  8 Pages Running head: BACKOFFICE BUSINESS BRIEF 1 Business Law and Ethics BackOffice Business Brief Patten University BACKOFFICE BUSINESS BRIEF 2 Constitutional Rights and Guarantees BackOffice is a new startup business that will provide potential clients with an application (app) that woul d automate certain business functions. BackOffice will be selling the app to certain business clients that will use it to facilitate their customers’ transactions. It is important that the owner of this companyRead MoreLegal Underpinnings of Business Law Essay609 Words   |  3 PagesLegal Underpinnings of Business Law OMM 670: Legal Environment February 25, 2013 Legal Underpinnings of Business Law Business | Type of Business | Liability Exposure | Compare | Contrast | Tinker’s Home Security Service | Sole proprietorship | Unlimited | Monetary rewards are from both the Proprietor amp; business | Sole Liability | Tinker amp; Tailor’s Home Security Service | General partnership | Unlimited | All partners are responsible whether silent or active | If you areRead MoreLaw 531 Business Forms Worksheet1386 Words   |  6 Pagesï » ¿University of Phoenix Material Business Forms Worksheet There are seven forms of business: sole proprietorship, partnership, limited liability partnership, limited liability company (including the single member LLC), S Corporation, Franchise, and Corporation. 1. Research and provide three advantages and three disadvantages for each business form. 2. Provide a 100- to 200-word summary in which you provide an example business that you would start for each form. What is legally necessary toRead MoreBusiness Law3143 Words   |  13 Pages2012 – OCTOBER SEMESTER 2012 STUDENT NAME: CHU THI HONG TUYEN ID No.: 2448481 BMLW5103 – BUSINESS LAW ASSIGNMENT Question 1 Discuss the enforceability of an agreement which lacks consideration. Using legal authorities (relevant statutes and cases) to support your discussion. Answer: A valid contract is an agreement made between two or more parties that creates rights and obligations that are enforced by law. What does the consideration mean? And what does it effect to the agreement? ConsiderationRead MoreBusiness Law : Labor And Employment Law891 Words   |  4 PagesBusiness Law: Labor and Employment Law Each and every day business throughout the United States are met with challenging situations that are centered around labor and employment law. As the director of human resources for Company X, I have been tasked with analyzing three situations that may or may not violate any federal acts. The federal acts that will be considered are the Family Medical Leave Act of 1993 (FMLA), the Age Discrimination in Employment Act of 1967 (ADEA), and the Americans withRead MoreBusiness Law762 Words   |  4 PagesB Bai 1 : Business Law: 40. Principle of Law: In this case, Esposito hired Excel Construction Company to repair a porch roof. All terms of the agreement were specified in a written contract. And the dispute occurred when Excel had repaired the rear porch roof because in the agreement failed to specify whether it was the front or rear porch that needed repair. Under civil law, two parties here had signed a civil contract in writing. Because the contract failed to specify clearly front or rearRead MoreBusiness Law Development Of Mongolia2212 Words   |  9 PagesCourse Paper Myagmarsuren Jargal International American University BUS 540: Business Law for Managers Flavia LLoyd June 28, 2015 Business Law Development Issues in Mongolia Mongolia is a developing country, which is encountering challenges to develop modern business law. During the twentieth century, Mongolia had been a socialist country and developed almost fifty years of non-private property regime. However, the end of the twentieth century, the country changed its regime to democraticRead MoreBusiness Law1345 Words   |  6 PagesQn 1: Whether James can hold the Happy Holiday Hotel for the loss of his property under the common law? The issue of this case will be whether James can hold Happy Holiday Hotel responsible for the loss of his property notwithstanding the exemption clause found in the hotel rooms. Under the Exemption Clauses in Common Law, it states that in order for this clause to be valid, the clause must be included in the contract when the contract is made. If there is any attempt to include it in after theRead MoreBusiness Law1088 Words   |  5 Pagesconditional constitute consideration? Yes, such a promise consideration even if the condition is unlikely to occur. 3. What is the general rule about the adequacy of consideration? The adequacy of the consideration is irrelevant because the law does not prohibit bargains. 5. Is there consideration when a secured note for a lesser amount is given and accepted in discharge of an unsecured note for a greater amount? Explain. No, because if a secured not for a lesser amount is given andRead MoreBusiness Law2474 Words   |  10 Pagesnature of liability in negligence amp; (3.3) Explain how a business can be vicariously liable 4 (4.1) Apply the elements of the tort of negligence and defences in the above different business situations for the legal officer who is assigned to VJSC amp; (4.2) Apply the elements of vicarious liability in above different business situations for the legal officer who is assigned to VJSC 8 Conclusion 11 References 12 Introduction Law plays important roles to protect benefits, obligations and