Course Summary Business 103: Introductory Business Law has been evaluated and recommended for 3 semester hours and may be transferred to over 2,000 colleges and universities. Contract law is a body of law that governs, enforces, and interprets agreements related to an exchange of goods, services, properties, or money. This essay has been submitted by a student. The law essays below were written by students to help you with your own studies. Property tax on any real estate owned by your business. Unless you have some experience with legal terminology, you may not understand all the complicated terms in a contract. Income taxes for the profits of the company, which may be paid as personal income taxes for sole proprietorships or single-person LLCs or through a partnership business tax return. Therefore, henry is not bound to sell the phone to Jason. Finance law 20. By continuing we’ll assume you board with our cookie policy. A contract made electronically is legally valid and enforceable. There are more and more occasions where immigration law becomes an issue in modern businesses. Assignment onReal Examples of Business Law 2. We can custom edit this essay into an original, 100% plagiarism free essay. Lawyers spend a lot of time learning about how to apply the UCC to actual business practice and can give businesses advice on how to stay compliant with the laws while staying productive. Promise of one party does not need to be equal in value to the other party’s promise. Some companies use unfair or deceptive practices in order to get a larger share of the market, and it may be difficult to identify unfair behavior in your own company. The acceptance must be an unconditional and unqualified assent of the offer, otherwise it amounts to a counter-offer. Your attorney will make sure your rights and interests are protected. If you are looking for help with your law essay then we offer a comprehensive writing service … Partners earning profit from a business must report that income personally, too. To export a reference to this article please select a referencing style below: Sorry, copying is not allowed on our website. As the investments are big, the risks involved are also very high. We’ve got you covered. Whether for a property lease or for a product sale, contracts help make sure that the parties who are making a deal are on the same page. There are many areas where your company could face major financial liability, not to mention the potential loss of reputation when treating employees unfairly. The agreement is formed when henry accepts the offer from the customer. Bankruptcy. Sometimes a lawsuit is inevitable, and your attorney will work to mitigate the damage to your business. The advertisement states that “smartphone will be sold to the first buyer who offer me $388” is a statement of price not an offer. An offer can be done by conduct, in writing or orally. You may end up paying capital gains tax if you sell a business-owned property. A contract has to be formed to be legally bound to their obligation. Employment or payroll taxes, including FICA taxes for Social Security and Medicare and workers’ compensation taxes. All rights reserved Gradesfixer ™, Examples of Business Law [Internet]. Copyright laws will protect creative work, and you will need to file for protection if your business is identified by a unique logo. While undertaking a big business, the two important limitations of partnerships are limited resources and unlimited liabilities of partners. You will need to choose your business structure and decide how and where your business will operate. 2020 © You will need to choose your business structure and decide how and where your business will operate. If your business has cash flow problems and is exploring the possibility of bankruptcy, there are several laws you’ll want to familiarize yourself with before filing the paperwork. Businesses may have to pay and/or figure several kinds of taxes: Sometimes businesses are forced into a bad situation because of circumstances beyond their control. You can order Unique paper and our professionals Rewrite it for you. Otherwise, anyone could sell a product your company worked hard to make. The Purpose of Law and Its Functions In Society, Lawsuit Alleges Two Southwest Airlines Pilots Hid Camera in Lavatory, The 4 Elements of a Breach of Contract Claim, What Is Business Law & The Different Types (With Examples), E-2 Visa Requirements (And How To Acuire One), What Is A Request For Evidence (And How To Respond). Ambitious in its aim to consolidate the laws in one place, the Code is actually quite complex. Business law case studies involve a dispute between two legal entities regarding such issues.

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