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.
Choice of business: Service providing industries have a chance of greater growth in the present modern and technological world. It attracts a large number of people having increased affluence, greater leisure time thereby leading to huge profits (as influenced by Johnston and Marshall, 2016 p. 42). Hence I would like to start a service business by collaborating with my friend. Partnership helps in making each partner liable for the profits as well as loss jointly. Partnership forms are easy to establish as raising funds to become easier. As said by Clampitt et al. (2015 p.85), in partnership business each partner has got a right of their shares from the profit. Hence, I would like to start a restaurant, named The Cup.
Clampit, J., Kedia, B., Fabian, F. and Gaffney, N., (2015). Offshoring satisfaction: The role of partnership credibility and cultural complementarity. Journal of World Business, 50(1), pp.79-93.
Johnston, M.W. and Marshall, G.W., (2016). Sales force management: Leadership, innovation, technology. Abingdon, UK: Routledge
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.