...You are the manager of Acme Fireworks, a fireworks retailer who sells fireworks, puts on ground display fireworks, and large aerial display fireworks. The company started in the owner’s garage two years ago and now has 15 employees that you manage. The company started as a sole proprietorship, and the owner has never changed the entity. The owner has informed you that the company has received inquiries from several large businesses wondering if the company could create several fireworks displays on a regular basis. The owner told the inquirers that the company could fill such display orders, and a price per display was agreed upon. It was discussed that most of the cost for a fireworks display is for skilled labor, insurance, and the actual service of setting off the fireworks. No other details were discussed. The owner is anticipating that new employees will need to be hired, but he is worried that if the large orders for fireworks displays do not continue, the company will not have the funds to pay the new employees. The owner is now considering changing the business entity, but he does not know what entity to form or how to form it. 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...
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...Acme Fireworks Joyce Mathews BUS 111: Business Law Prof: Maria Fiorentino January 19, 2015 Acme Fireworks Acme Fireworks is a company that sells fireworks but our main attractions are ground firework displays and large aerial displays. We have come a long way from working in the owner’s garage to a full facility with 15 employees. My job is to manage the facility and to make sure the owner’s expectations are met. Recently the owner has advised me that he received inquiries from other large corporations wanting us to produce several more firework displays on a regular basis. Without consulting me, the owner agreed on the inquiries and a price was agreed upon. Cost included labor, insurance, and setting off fireworks. Besides hiring new employees, we might run into a problem where if the large orders stop, we might not have the funds to continue to pay extra help. In this paper I will determine which contract the owner and the other business will need. I will also need to determine if the contract is governed under the common law or the Uniform Commercial Code (UCC). Conduct to see if all the five essentials elements are met in the contact. Develop different employee types and relationships while discussing the advantages and disadvantages of each related to Acme Fireworks. Lastly, I will analyze different alternatives related to why Acme Fireworks shouldn’t operate solely. Acme Fireworks is an ever growing company that strives to acuminate every...
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...Acme Fireworks Name Course Instructor Institution Date of Submission Acme Fireworks Business Contracts The business contract is considered as the common legal transactions most business people get involved to ensure the activities run smoothly. When a person understands the contract law, he/she is good to create a sound business agreement. However, the agreement would be legally enforceable in case something bad happens. As the manager of Acme Fireworks, I was requested by the owner to determine which law between common law and the Uniform Commercial Code (UCC) will govern the business. According to Sheleff, (2013), the common law controls the majority of contracts that include intangible assets, employment, real estate, services, and insurance. On the other hand, the Uniform Commercial Code (UCC) governs contracts for the securities and sale of goods (Meiklejohn, 2008). Therefore, the contract between Acme Fireworks and the retailers would be governed by Uniform Commercial Code (UCC). There are various articles in the UCC and specifically, Article 2 deals with the transaction of goods. The statute in the article stipulates precisely the regulation of sales to consumers and other classes of buyers. Acme firework is a retail outlet that deals with the sale of fireworks and also displaying them. It will enter into a contract with other large businesses to produce large quantity on a regular basis, and it would...
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...Acme Fireworks Kelvin M. Spencer BUS 311 – Business Law I Professor David MacKusick December 4, 2015 I have been hired by Acme Fireworks Company to manage their company. As the manager I have been asked by the Owner to evaluate and re-evaluate the direction the Company is moving and provide effective feedback that can help make the company operate better. In this paper I will address whether or not the contracts will be governed by common law or the UCC (Uniform Commercial Code). I will also analyze whether the owner formed a contract with other businesses and apply the five essential elements of an enforceable contract. Next I will explain potential personal liability to Acme Fireworks if a spectator is injures by a stray firework from a fireworks display. Then I will discuss the different employment types and relationships relevant to agency law and analyze the advantages and disadvantages of each type specific to Acme Fireworks. And finally, I will explain why Acme Fireworks should not operate as a sole proprietorship. I will recommend a new business entity, and provide rationale to support my recommendation. Have you ever been to a professional fireworks display and wonder exactly what goes into putting on such a beautiful display of fire? During the Fourth of July holiday, all across America most municipalities contracts and hires professional firework companies to put on an aerial display of fireworks. As awe-inspiring as such spectacles maybe...
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...Acme Fireworks Jessica Seibert BUS 311 : Business Law I Instructor Mark Cohen August 9, 2015 Introduction The future design of a company is not always thought about when deciding which entity a business should be. In the case of Acme fireworks, the owner, who we will call Jim, never anticipated his business would be more than a sole proprietorship. As his business grows, so does his liability as well as his taxes. It is time for Jim to change entities. His best bet would be to form an LLC. “The advantages of forming an LLC are that the members are afforded limited liability and have pass-through taxes similar to a partnership.” (Gaebler, n.d) History Jim has always loved fireworks. He loved taking one insignificant firework and combining it with other insignificant fireworks, to create one amazing display. He also loved seeing the excitement on young children’s faces when they were dying with anticipation of the coming fireworks show. Jim knew that he wanted to develop his passion and make a living from it. Once Jim decided to capitalize on his dream, he came up with a business plan. He knew he didn’t have a lot in savings, so he cleaned out his garage and set up shop. He wanted to name his company Acme Fireworks because of his favorite TV show growing up, Looney Tunes. He contacted the local County Clerk’s office and verified that the business name was available. Since his business name was not his own name he had to fill out a Fictitious Name application. Once...
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...Acme Fireworks Laura Miranda BUS 311 Business Law I George Holbrook [ August 25, 2014 ] Introduction As the owner of Acme Fireworks you have asked me, you manager, to review and explain some ideas to you. In the following pages I have explained the potential personal liability for injuries to consumers and what must be on our labels for safety. Analyzed the newly formed contracts with the retailers and the employment and expansion that are needed for Acme to go along with the new contracts, and then concluding with the change of the business entity. As we go forward with the growth of the business, we want to be sure things are done properly and that we will meet or exceed our consumer and customers’ standards at Acme Fireworks. Personal Liability As you are aware you our company needs to be sure that our consumers are aware of two key things their own liability, and warnings. Our consumers need to be aware that when they use our products that they alone are responsible for any damage done by the firing of the firework is their responsibility and not ours. Insurance companies are saying “you can’t always control who is watching your fireworks display and never know who might file a lawsuit against you for any bodily harm caused by a roge firework. Despite how complicated fireworks liability may sound, making sure you’re covered in the event of injuries or property damage is as simple as finding the right custom fireworks insurance plan that can be designed exactly...
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...Final Paper Proposal James Collier BUS311: Business Law I Instructor: Daniel Malvin 9-1-2014 A sole proprietorship is a one-person business that is not registered with the state as a corporation or a limited liability company (LLC). The owner of the Acme Firework is a sole proprietor that has never changed his business entity. A sole proprietor can be held personally liable for any business-related obligation. This means that if your business doesn't pay a supplier, defaults on a debt, or loses a lawsuit, the creditor can legally come after your house or other possessions. Product liability laws cover consumer goods and goods used at a workplace. If someone is injured by a defective product or suffers loss or damage to private property, they can sue for damages. Both producers and distributors can also face prosecution if they offer unsafe products for sale. When a defective product causes injury, the manufacturer of the product, the distributor, the wholesaler and the retailer who sold the product may all be liable to the plaintiff. Several large retailers have sent inquires about the company’s ability to fill large orders on a regular basis, but the owner is anticipating he will need new employees and is worried that he will not be able to pay the employees if the large orders do not continue. The owner will have to consider a business entity because the company is going to grow with more employees and workloads. To get the most out of a small business, a company...
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...Acme Fireworks Analysis When the determination has been made to change a business’s entity it is important to understand what entity would be best suited for their business needs. Acme Fireworks is a sole proprietorship that is growing fast, the owner is considering changing the business entity. The decision that needs to be made is which entity will best suit their advancing needs. Acme Fireworks can choose between three entities: a partnership, corporation, and limited liability company (LLC). There are pros and cons for each of the different entities. When taking into account the current personal liability, if the contracts already in place are valid, employment needs to fulfill the large orders, and defining the different types of entities, my recommendation for Acme Fireworks would be to become a corporation. Just about everyone in the United States has some personal experience with fireworks, either from Fourth of July or New Year's Eve celebrations. Fireworks have always been dangerous and have caused, and continue to cause, serious and tragic accidents. Every year injuries both minor and major are caused by fireworks. Potential personal liability for injuries to consumers caused by the firework products is inevitable. When the firework explodes, it can send out many burning hot embers, or if it is positioned in the wrong place it can set houses or nature on fire. Fireworks can even be a dangerous weapons in the hands of vandals. However, not all mishaps due to fireworks...
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...Acme Fireworks Business Evaluation Ryan Magana BUS311: Business Law I (BBL1524C) Maureen Martinous July 13, 2015 Acme Firework Business Evaluation Acme Fireworks is looking to change the business entity of their company but needs help deciding how to go about doing it. There are plenty of options for the company to go with but some might be more beneficial when it comes to thinking about long term. In this evaluation we will go over the options that are available and what we consider to be the best course of action for Acme Fireworks. Running a business can be an extremely difficult job to take on for anyone, no matter what experience you have. 365 days a year you need to be available for whatever course of action might take place. There are many aspects of a business that need to be monitored very closely and these are some examples: production, sales and customer service, business entity, liabilities, and employment types. References Mancuso, A. (2014). Chapter 3: Forming and Running Your Business. LLC Or Corporation?, 59-80. Mancuso, A. (2014). Chapter 6: Converting a Sole Proprietorship to Another Entity. LLC Or Corporation?, 153-176. Rogers, S. (2012). Essentials of Business Law. San Diego, CA: Bridgepoint Education, Inc. Smith, V., & Neuwirth, E. B. (2009). Temporary Help Agencies and the Making of a New Employment Practice. Academy Of Management Perspectives, 23(1), 56-72. doi:10.5465/AMP.2009.37008003 Steingold, F. S. (2015). CHAPTER 1: Which...
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...Acme Fireworks Analysis When the determination has been made to change a business’s entity it is important to understand what entity would be best suited for their business needs. Acme Fireworks is a sole proprietorship that is growing fast, the owner is considering changing the business entity. The decision that needs to be made is which entity will best suit their advancing needs. Acme Fireworks can choose between three entities: a partnership, corporation, and limited liability company (LLC). There are pros and cons for each of the different entities. When taking into account the current personal liability, if the contracts already in place are valid, employment needs to fulfill the large orders, and defining the different types of entities, my recommendation for Acme Fireworks would be to become a corporation. Just about everyone in the United States has some personal experience with fireworks, either from Fourth of July or New Year's Eve celebrations. Fireworks have always been dangerous and have caused, and continue to cause, serious and tragic accidents. Every year injuries both minor and major are caused by fireworks. Potential personal liability for injuries to consumers caused by the firework products is inevitable. When the firework explodes, it can send out many burning hot embers, or if it is positioned in the wrong place it can set houses or nature on fire. Fireworks can even be a dangerous weapons in the hands of vandals. However, not all mishaps due to fireworks...
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...WEEK 3 ASSIGNMENT Focus of the Final Paper You are the manager of Acme Fireworks, a fireworks retailer who sells fireworks, puts on ground display fireworks, and large aerial display fireworks. The company started in the owner’s garage two years ago and now has 15 employees that you manage. The company started as a sole proprietorship, and the owner has never changed the entity. The owner has informed you that the company has received inquiries from several large businesses wondering if the company could create several fireworks displays on a regular basis. The owner told the inquirers that the company could fill such display orders, and a price per display was agreed upon. It was discussed that most of the cost for a fireworks display is for skilled labor, insurance, and the actual service of setting off the fireworks. No other details were discussed. The owner is anticipating that new employees will need to be hired, but he is worried that if the large orders for fireworks displays do not continue, the company will not have the funds to pay the new employees. The owner is now considering changing the business entity, but he does not know what entity to form or how to form it. 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...
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...The Chinese Fireworks Industry Liuyang, a city in Hunan Province in China, is known as “the home of firecrackers and fireworks”. The fireworks making in Liuyang has a long history and tradition in China, and enjoys a high reputation in the domestic market. It was also the top fireworks exporter in the world, covering 60% of the global production. However, the fireworks market in China faced an intensified competition and several legal restrictions. Jerry Yu, who was running a small family-owned chain of gift stores in New York, was asked to invest in a fireworks factory. He has management experience and global insight with an MBA, but he is challenged to decide whether it is worthwhile to invest in it considering the threats it is facing and the weaknesses of the industry. As far as I am concerned, although the downward trend of fireworks consumption (see Exhibit 1) made the whole firework industry seem like a sunset industry, there are still some opportunities for investing this industry and make profit out of it. PEST Analysis Political Factors In the domestic market, local governments have different regulations regarding fireworks consumption. By 1998, one-third of the cities in China had completely banned the use of firecrackers and fireworks. Another one-third only allowed fireworks in designated places. However, in the mid 2000s, several cities eased restrictions on fireworks. In the meantime, the domestic market still lacks pricing regulation and intellectual property...
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...1. I put peas on this collage because my perfect Romeo and I have to be two peas in a pod. We have to be best friends. We have to fit perfectly together and enjoy each other’s company. 2. I put kids on this collage because my perfect Romeo has to be good with kids. He has to be kind, patient, and gentle. I want a big family so for that reason this is important. 3. I put candy on this collage because my perfect Romeo has to be sweet. He has to be able to cheer me up when I’m sad. He also has to treat me right. 4. I put fireworks on this collage because my perfect Romeo has to be like a fire cracker. He has to be spontaneous, surprise me, be fun, and energetic. He can’t be boring. A firework represents this because I never know when he’s going to go off. 5. I put a Holy Bible on this collage because my perfect Romeo has to be holy. He has to love God and attend Church. He also has to instill his Catholic faith into our children. 6. I put a dog on this collage because my perfect Romeo has to be as loyal as a dog. A dog is a man’s best friend and is loyal no matter what. My perfect Romeo has to be completely trustworthy and loyal. 7. I put a six pack on this collage because my perfect Romeo has to be fit. I would hope that my perfect Romeo has a six pack and works out. I hope that he also encourages me to work out with him so that I stay in shape. 8. I put people laughing on this collage because my perfect Romeo has to make...
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...Deepavali - The Brightest Festival Diwali, popularly called Deepavali in some parts of India, is a festival which we all long for every year. The preparations for Deepavali start long before the festival date. First, the excitement for us would be the new dresses that are bought to be worn for Deepavali. Since Deepavali is a festival for more than 2 days, we have 2 or 3 new dresses. Apart from this all elders visiting us buy us sweets and dresses also. Jeans, T shirts, Trousers and shirts were all bought for me by my parents. The other major excitement for Deepavali is the bursting of crackers and fireworks. This year we burst lot of crackers. Earlier I used to be afraid of crackers. Now I have got over the fear of bursting crackers. My parents tell me that I have to be very careful while bursting. I followed their advice and there was no fire accident also. Sparklers, Rockets, Ground Chakkars and Flower pots were our favorites besides the Thousand thousand sparks bomb. The third rejoicing aspect of Deepavali is the eating of sweets. We visit relatives and friends with sweets and snacks. They also visit us with sweets and snacks. We seek their blessings on the festival day. Gulab jamun, Laddoos, Halwas and Kaju cakes were my favorites. My grandmother tells me that the victory of Good over Evil is the reason for this celebration. She also says that the festival is to mark the return of Rama to Ayodhya after his defeat of Ravana. Lots of people also start new ventures...
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...Firework Proposal Julia Villalba BUS311: Business Law I (BBL1519B) Instructor: Anthony Patete May 25, 2015 I am an employee at Acme Fireworks, which was started two years ago in the owner’s garage. Since then its business has expanded. I am the manager of 15 employees. We sell fireworks and we also do aerial or ground firework displays. I will be discussing the Acme Fireworks Company, pros and cons, and the owner’s choice to change entity of dealing with fireworks. I. Acme Fireworks Company A. Visit and evaluate fireworks companies * Contracts * Inquiries from several large businesses B. Visit and evaluate fireworks websites * Look for different reasons for use * Note important statistics * Death ratio, how many deaths were due to fireworks? * The cost of protection such as, insurance in case of damages II. Pros and cons A. Write pros of this activity * Children * Adults celebrating an event B. Write cons for non-use of this activity * Volunteer workers that are not experience * Preparing the sites around the public III. The owner’s choice to change entity A. List reason for change * Pros * Cons B. List problems in work experience * Hiring new partners who claim to be experience * Hiring new employees who claim to be knowledgeable C. Final decision-making * Partnership percentage and sharing money problems * The liabilities to share responsibilities In my conclusion I know how everyone enjoys fireworks as an entertainment...
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