Discuss the below in a 300 words:
1. Review Case Bank of America, N.A. v. Barr (ATTACHED). What is a sole proprietorship? Why are sole proprietors held personally liable for the debts of their businesses?
2. Review Bankruptcy of General Motors (ATTACHED). Is it ethical for a company to declare bankruptcy? Is anyone hurt by a debtor declaring bankruptcy? If so, who? Was it ethical for General Motors to seek a taxpayer ball-out? Were they "too big to fail?"
NEED IN-TEXT CITATION WITH THE FOLLOWING REFERENCE:
Reference:
Cheeseman, H. R. (2013). The legal environment of business and online commerce: Business ethics, e-commerce, regulatory, and international issues (7th ed.). Upper Saddle River, NJ: Prentice Hall.