It appears that the employer intentionally disposed of the parts. The disposal of these parts may prejudice the client's ability to recover in any product liability lawsuits against the corporations involved in the manufacture, distribution, inspection, or servicing of the conveyor. • What section of Am.
The vendor will be function in effort to make a profit as is with all businesses. The problems can come when the vendor needs to increase profit and since the contracts are normally a fixed price, the only way for them to do so is to decrease expenses. This is a viable option as long as they meet the conditions specified in the contract (Bucki, 2012). When outsourcing to another company, your organization is now tied to the financial well-being of the vendor. The problem can arise when after contracting out the IT functions of the organization and paying the fees negotiated, the vendor goes bankrupt leaving the companies who have contracted to them without an IT resource (Bucki,
Jones purchase the stock of Smithon outright leaving Smithon intact? The stock should not be purchase by Mr. Jones. Mr. Jones acquiring the assets, liabilities and also would inherit the contractual obligations of the selling corporation, would, be the results of the purchase. In lay terms, he has bought the existing Smithon Corporation and he is responsible of ensuring daily operations run efficiently but the tax aspect of acquisition he is responsible for existing and any future tax liabilities that the selling corporation had. It would be my advice for Mr. Jones to not buy the stock because of the liability of current and future tax obligations which Mr. Jones would incur from the purchase of the stock.
Can the “alter ego” doctrine be applied to determine that piercing the veil of an LLC is justified to prevent the use of the LLC from defrauding creditors? Generally, the “alter ego” doctrine may be applied in situations involving commingling of corporate and shareholder funds, failure to follow corporate formalities, undercapitalization, failure to provide separate bank accounts and bookkeeping records, and failure to hold regular shareholder and director meetings. DECISION The Fourth Circuit determined that because the managing member operated MBW as his alter ego, he could be held jointly, severally and personally liable with MBW for all debts. REASON MBW’s veil was pierced in this case because evidence existed of commingling funds between the managing member and his other businesses. As a result, MBW was undercapitalized.
WIRETIME, Inc. has interfered with an existing contractual relationship that Janet has with BUGusa, Inc. when they offered Janet a job with their company. This means that WIRETIME, Inc. can go after BUGusa, Inc. for damages because of losing Janet with their company. Since BUGusa, Inc. has specific knowledge of the contract that was broken, WIRETIME, Inc. actively interfered with the contract that was broken, and WIRETIME, Inc. caused losses to BUGusa, Inc. there definitely has been a tort committed. Scenario: WIRETIME, Inc. (Steve and Walter) Discuss any liability BUGusa, Inc., may have for Walter’s actions. The liabilities BUGusa, Inc. may have with Walter’s actions are intentional tort of employee and negligence of employee.
· Liability-A C Corporation has limited liability in that it is seen as a separate entity from the owners, which in turn protects their personal assets from being taken to pay for the company’s debt or liability losses. As with the other business entities, insurance can be purchased to shield the assets from being taken due to a liability loss. · Income taxes-Corporations are taxed twice. They are first taxed on the profits made by the corporation itself then the profits to the shareholders, also known as dividends, are taxed. · Longevity-The dissolution of a C-Corporation can occur because of a shareholder becoming disabled or dying, the failing profits of the company or because they can not agree on the direction or handling of the company.
Many are simply the means of making a living. Another issue is the limited ability to raise capital. The National Federation of Independent Business Foundation showed that most small business financing comes out of the owner’s pocket. Honestly, if I had been a part of a small business from the beginning I don’t know if I would do anything for the issues that do affect some small businesses. Most people who start a business want to because they want to do something they love and work for themselves and becoming a franchise isn’t exactly their first thought.
Unit 2 Individual Project ENGL106 Outline Venture Capitalists are the people that have Venture Capital available for use that businesses can use for startup or expansion. It involves high risk and potential for a high return on the money invested. These investors pool their money and use it and their expertise to help startup businesses that have no prior history and can’t get traditional help from other lending sources. Venture Capitalists are wealthy individuals or a group of individuals that finance and help start up new businesses that can’t raise money by selling stock or getting traditional loans and accept the risk involved in this type of financing. Venture Capital is the money provided to new starting businesses that have a great chance of getting a return to the investor for their money.
Therefore, creditworthiness is usually overemphasized in the decision to file for bankruptcy. When a business files for Chapter 7 bankruptcy, after a trustee is appointed, the trustee will sell the business’s assets and distribute the proceeds accordingly. In the event that a business declares bankruptcy, its employees may or may not lose their jobs because divisions of the business may be sold intact or
Shareholders who have over 50% of shares can take over the business. This means the past owner lose power over the business. Financial information can be obtained by rivals meaning they are able to tell if the business is doing well or not. They are lot of legal formalities required to become a shareholder. The profit is shared along lots of shareholders.