Discussion Assignment -
Discussion 1 - Draft Contract
Please post in this forum as follows:
In Chapter 20 Business Organizations you picked a Company Name and explained the Business of your choice (Given below). Please do the following:
1. Draft a basic contract in paragraph form including any information you believe should be included. This will encompass all of this weeks chapters.
2. After you draft the contract, explain why you included certain parts - be certain to support your work.
Discussion you posted for the choice of company: A partnership business always helps in the reduction of the risks associated with the selling business. My choice of business will be selling of household products. The form of business that I will indulge in will be limited partnership. The limited partnership business is chosen due to many advantages. Picciotto (2018, p.66) said that the liabilities of the business involved in the partnership are limited. The reason for choosing this form of business is that more funds can be raised as there is more than one owner. As stated by Harangozó and Zilahy (2015, p.29), partnership business is also easy to establish. The name of my business will be Arbizon Private Limited.
Harangozó, G. and Zilahy, G. (2015). Cooperation between business and non-governmental organizations to promote sustainable development. Journal of Cleaner Production, 89, pp.18-31.
Picciotto, R. (2018). The logic of partnership. In Evaluation and Development (pp. 59-68). Abingdon: Routledge.
On asking "Can you expand on what type of household products you are thinking of?"
You replied "I will be selling grease and rust removers"
Discussion 2 - Ring
Who keeps the Engagement Ring?
The Facts:
- Alex ("A") proposes marriage to Barbara ("B")
- B accepts
- A gives B an engagement ring
- After 6 months A and B get tired of each other
- The engagement is broken off
Question: Who keeps the ring? Make certain to explain and use cites.
Textbook - ESSENTIALS OF BUSINESS LAW, Ninth Edition by Anthony L. Liuzzo.