Introduction Business voices in the music industry have asserted the threat caused by illegal music downloads and piracy. The issue has raised legal problems besides reducing sales of legitimate CDs. Illegal downloads have replaced conventional legal music purchases. Many business analysts have viewed that the present slump in music sales...
Introduction Directors’ duties under English Courts are based on the company’s principle that a company is a separate legal entity from its members. With such a foundation, the directors act under the fiduciary duty. Their duties establish a fiduciary relationship between them and the members of the company. In recent...
Interview Summary The owner of the business operates a small business that is co-owned by two partners making it a partnership. This means that the owner has a legal liability over the liabilities. Based on the interview, the legal structure of the business is a partnership. According to the owner,...
The labor market is made up of various stakeholders. They include the workers and the employers. The former are the sellers, while the latter are the buyers. Their interaction creates supply and demand in the labor market. The nature of this engagement determines the wage paid to the workers. For...
Introduction Fair Work Australia (FWA) focuses on relations in the workplace and provision of help to employees and employers. According to Wright, one of the roles of FWA involves varying awards at the workplace (5). The agency defines the bargaining powers of both employees and employers through the Fair Work...
Businesses face legal disputes at one time or the other. Most conflicts occur at the local level. As such, they are determined by state courts (Hall, 2004). Some of these judicial bodies include limited-jurisdiction, general jurisdiction, intermediate appellate, and Supreme courts. Parties to the dispute may prefer to resolve the...
Introduction Forensic accounting and fraud investigation are important divisions in the field of accounting. Fraud and forensic accounting involves the detection of fraud in financial accounts and financial statements of companies, organizations, and businesses (Manning, 2010). It has been used to unearth corruption and fraud in some of the largest...
Introduction The Companies Act 2006 governs company Law in the UK. The Act brought many changes in Company Law in Britain. It led to codification of common law principles and introduced new provisions for companies. The Act also brought about unification of two systems of law (Britain, Wales or Northern...
Elements of a valid contract A contract is defined as a legally enforceable agreement between two or more parties where one party agrees to undertake some actions while the other part guarantees a consideration as a result; a breach of the conditions leads to a legal case. Not all contracts...
In today’s modern and diverse world, many conflicts are always erupting in our daily lives. The conflicts arise from many different aspects of our lives, for example, family, school and in business, however, the majority of the people usually prefer to resolve their conflicts peacefully and fairly without any violence...
Introduction When two or more nation states are engaged into international agreement or contract this agreement is often referred to as treaty. Treaty is arrived at by negotiations. When parties involved creating a treaty, it invokes obligations that are binding between these parties. It provides a clear cut of responsibilities...
Accepted wisdom about the word law as held by the influential school of thoughts state that a natural law exists portrayed often as God who is holding the various forms of command for the mankind and the entire universe in its own unique way. This reminds us that the system...
Introduction Background information In business law, a general partnership is a business entity formed by two or more persons. In addition, the general partnership form of business structure is characterized by sharing of all profits made and losses incurred in the process of operation. The partners do not enjoy limited...
Introduction In business, competition is a crucial element that presents benefits for both consumers and companies. Under these circumstances, companies are able to introduce new developments and tailor their products and services to suit the requirements of consumers. The markets with imperfect competition suffer from allocative insufficiency and consumer surplus,...
Different business organizations have different characteristics depending on their size, mode of formation, internal structure, and legal liability. This paper will discuss the characteristics, advantages, and disadvantages as well as in-depth legal liability in the various forms of business organizations. Sole Proprietorship This is the simplest form of business organization...
Definition Intellectual property is a fundamental legal field that entirely refers to the establishment of the mind such as artistic works, literacy and other musical works. It encompasses designs employed in the electronic commerce such as copyrights, patents, trade marks and all other related rights. The holder of these abstract...
Introduction A contract is an agreement to create a legal obligation binding the parties involved. Parties to the contact primarily negotiate terms and it is presumed that they made their intensions clear to each other regarding every material term which govern the contract that is their rights and obligations. The...
Introduction This paper is based on the topic of business and corporate law. In the paper, I have discussed three academic concepts that I discovered from the assigned chapters for the course. The concepts include corporate structure (from the forms of business organizations chapter), corporate ethics (from the ethics and...
Introduction The contract refers to either bilateral or multilateral legal transaction in which two parties or multiple sides make an agreement on a certain object. The paramount function of the contract is to ensure fair and legal relationships between parties. In other words, it can be regarded as coordinating, orienting,...
The article “Sarbanes-Oxley – Context & Theory: Market Failure, Information Asymmetry & The Case for Regulation” by Sean D. Jasso focuses on early and present-day concepts of market and backs it up with a wide-ranging debate on business failures and informational disproportionateness. To be more precise, the hypothetical backgrounds leading...
Introduction A contract is an agreement between two or more parties where one agrees to carry out a certain activity for consideration. There are different forms of contracts that can be done either orally, written, or both. It all depends on the kinds of agreements that have been entered into....
Introduction Voting powers play a crucial role, especially where directors also happen to own a majority of the shares. Such shareholders can easily implement some decisions against the interests of minority partners. This situation reflects a case where a wrongdoer also possesses the power to support his or her mistaken...
What are the benefits to the commerce of having shareholders—and other entities that shield their members—protected from personal liability? The following are the benefits to the commerce of having shareholders and other entities that shield their members from personal liability. (1) When a company shields its shareholders from personal liability,...
Elements of a valid contract Offer and acceptance – A mutual consent is only possible in contract when there is an offer and acceptance. One party gives a proposal and another party accepts the offer. Legality – All contracts must be made on legal activities and they should not be...
Introduction Project’s Main Objective This project report is designed to provide an insight into Sarbanes-Oxley Act of 2002. The core purpose of the Act is to develop better means of safeguarding the interests of both local and foreign investors from malicious business practices that result in misappropriation of investor funds....
Sole Proprietorship Advantages of a sole proprietorship Ease of formation since there is less as it involves less complication. It enjoys tax benefits since it requires no tax report Decision making: Single sole owner is the manager of the business; he exercises control over all business resolutions. Disadvantages of a...
