Question 1: Evaluate the following scenario and determine why the particular form of business organization should be used.
Question 2: Define the form of business organization currently used
Question 3: Discuss the advantages and disadvantages of this form of business organization
Question 4: Define at least two alternative forms of business organization
Question 5: Discuss the advantages and disadvantages of these forms of business organization
Question 6: Choose a form, justifying your selection with adequate discussion
Question 7: Discuss why the alternative form is not as well suited
Consider some of the legal problems associated with the type of business involved. Provide citations to support your answer.
Conway just received his contractor's license in the state of Virginia. For years, Conway did light construction work for a few commercial accounts. He was very successful and had enough clients to keep him busy, along with his father and brother, working six days a week. Occasionally, a client would hire Conway to do a substantial amount of carpentry work for an entire business. Conway has purchased a substantial amount of property. He intends to create an upscale neighborhood containing houses valued in the $200,000 range. He realizes that he will have to borrow heavily to construct the first few houses. At present, Conway's business operates as a sole proprietorship. Should Conway continue to operate his business as a sole proprietorship? Should he operate his business as a partnership? Explain why or why not.