BUS 311 Proposing Change of Business Entity at ACME Fireworks Paper
The owner has asked you to do the following:
- Determine if the contracts with the businesses will be governed by common law or the Uniform Commercial Code (UCC), and explain why.
- Analyze whether the owner formed a contract with the businesses, and apply the five essential elements of an enforceable contract.
- Explain the potential personal liability to Acme Fireworks if a spectator is injured by a stray firework from a fireworks display.
- Discuss the different employment types and relationships relevant to agency law, and analyze the advantages and disadvantages of each type specific to Acme Fireworks.
- Explain why Acme Fireworks should not operate as a sole proprietorship. Recommend a new business entity, and provide rationale to support your recommendation.