Business Law Assignment Project: Business Organizations
Business Organizations
Select two of the three scenarios. Support your responses with appropriate cases, laws and other relevant examples by using at least one scholarly source from the SUO Library in addition to your textbook for each scenario. Do not copy the scenario text into the paper. Label the beginning of each scenario with the number you selected (e.g., Scenario 1). Cite your sources in APA format on a separate page.
Scenario 1 - Partnerships
Mary, Janet and Shantil formed a partnership, Brookdale Senior Care (BSC), to provide temporary housing and general care for elderly people in Memphis, Tennessee. One of the temporary residents left the stove on and burned down the house, which resulted in the loss of the entire building and contents. One of the residents, Francine, sued BSC and obtained a judgment of $ 30,000 against it, but the partnership could not pay the judgment.
• What are Francine's options if the Brookdale partnership cannot pay the $30,000?
• Assuming Janet has the funds in her savings account, will Francine be successful if she tries to collect the entire debt from Janet?
• What are Janet's options if Francine sues her for the entire debt?
Scenario 2 - Choice of Business Organizations
Paige, Phoebe and Piper are interested in going into business together. Piper inherited a great deal of money from her sister, Priscilla. Paige is an experienced salesperson with a marketing degree from Western State University and worked for five years as a senior sales manager in a large auto parts manufacturing corporation. Phoebe is an engineer who has developed a prototype for a very small car that will be affordable for everyone, while offering superb quality and safety features.
Paige, Phoebe and Piper believe a general partnership is the best form of business for the trio. Do you agree? Provide the advantages and disadvantages of their selection and then discuss two other options that might be more appropriate for the group. Conclude your paper by making a recommendation for the most appropriate choice. Support your answer with the applicable law and/or text material.
Scenario 3 - Franchises
• Select one of the following franchises.
o McDonald's
o Pizza Hut
o 7 Eleven
o Dunkin"Donuts
o Century 21
o Anytime Fitness, Inc.
o Hertz
o Supercuts
o Edible Arrangements
o Merry Maids
o Jiffy Lube
• In your own words and in paragraph format, provide the following information about the franchise.
o Description of business
o Services provided by franchisor
o Training and finance assistance
o Territory or location restrictions
o Franchisee financial investment
o Miscellaneous fees
• Would you want a franchise of this business? Why or why not?
Format your assignment according to the following formatting requirements:
1. The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also include a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
3. Also Include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.