Business Law Questions Coursework Example | Topics and Well Written Essays - 1750 words

Business Law Questions - Coursework Example The first advantage is that this type of business is easy to form. The business organization is simple with minimal legal formalities that includes the license and permits in special cases. The business is also easy to dissolve if Eva so wishes. The second advantage is that this type of business only needs small startup capital. Apart from this, the amount of money needed for management is small as there is usually no need for specialist in the various functional areas of the company. The third advantage Eva gains from this type of business organization is that it affords a great deal of flexibility in that decision making and changes are easy and fast. The fourth and probably the biggest advantage is that the owner receives all the profits from the business. The final advantage offered is that the company if moderately free from government control. The government regulates this type of business less than other types, thus Eva’s day-to-day operations are smooth as long as she follows the letter of her permit and license. While the business offers many advantages, it also has some challenges. First, these types of companies usually have limited resources. Due to this, banks and other credit facilities are usually reluctant to grant loans due to the high mortality rate of these companies as well few assets owned. The second disadvantage is that the owner assumes unlimited liability. This means that all the debts and loses fall on the head of the owner. The third disadvantage is that in the event the company fails, creditors have the right to force the owner to sell their own property as well as those belonging to the company to offset the debt. Finally, if the owner dies or is incapacitated, the business dies or is incapacitated. In order to raise capital, Eva faces some difficulties as investors unrelated to her will not be comfortable regarding the security and use of their investment. Capital investment for sole proprietorship is also difficult to secure and formalize without risking losing control of the company. The first course of action she may take is to seek financial aid from people related to her such a family and friends. She can also raise loans from financial and banking institutions. In this case, she can secure a loan from the bank for her working capital and seek help from specialized financial institutions in case of long term investment such as buying fixed assets. The third approach is discussing with her suppliers to receive goods on credit, i.e. acquire trade credit. Finally, she can lease her equipment to other firms in order to acquire medium term funds. Question 2 By looking at the second scenario, we find that Don has a basis to set aside the contract. This is because the contract between Don and Evan was entered under coercion. According to Bigwood (369), pure coercion occurs when one party plans to engage in a legal wrong to endorse his demands leaving another party to without any reasonable alternative but to comply. While Evans threat is not a legal wrong it is however exploitative, disagreeable and wrongful in the broader sense hence an improper proposal. Under contract law, Don can prove that he was under duress (duress to the person) thus enabling the contract to be rescinded since it will then be voidable (Stone 337). In order to prove that the contract was under coercion, Don has to prove that no other reasonable option remained but to sign the contract. This can be done by reviewing the relationship between him and his nephew as well as contracts they had entered before. Apart from voiding the contract, Ron can also choose to enforce the contract (Bigwood 370). Cases of

Book discussion Coursework Example | Topics and Well Written Essays - 1250 words

Book discussion - Coursework Example Another one was the theme of accountability. This theme has been able to express itself in different parts of the book. In the Bulls Eye organization, there were a number of managers, including John and Barb, who head different departments. Their boss, Nancy had some occasional meetings with them so as to review on their departments’ performances. Every manager was made accountable for the results his or her department was yielding to the organization. During some weekends, John has to report to his office so as to correct the bad job that was done by his team. All this is because he is the one made accountable for the results. There is the theme of togetherness that has clearly come out in the book. In the book, the author has nearly mentioned Ubuntu on a number of pages. Simon says, â€Å"It doesn’t make any difference if it was my work or someone else work. We are all into this as a department. I want to help, it is Ubuntu† (pg. 19). This is after the department lead by John, Simon is a member, had failed in meeting their levels of expected results of the organization. The theme has shown that indeed to have success in a group, then you must have collaboration and team work. Most of the story took place in the USA, particularly in Chicago. This is evident in the book when the author says, â€Å"Twenty miles outside of Chicago, at a small†¦Ã¢â‚¬  (pg. 12). In this particular text, the author was describing the coffee shop where Alexandra and Steve went to take some coffee. Major part of the story in this book, especially chapter one takes place at the premises or offices of BullsEye organization. The majority of the characters in this story is having their origins in the USA, in fact, they are all citizens of The United States. We only have Simon, who was born in South Africa during the Apartheid system though he is an