I. Introduction Acme Fireworks offers sparklers in all their gathering plots. One time use, airborne presentation ground show up; if there's a must, Acme Fireworks supplies it. Starting as a parking space try, Acme Fireworks is a sole owner that necessities to change its substance status as an outcome of a late storm of more obvious business agreement requests that would mean a more critical specialist base, more obligation threat, and higher energy for a risky thing (prompting valuation of assurance traditions and extension). This showing up of progress would affect the association holding quick to the Besides, the UCC states that "a solicitation or another offer to buy items for brief or current shipment ought to be deciphered …show more content…
Consideration (a) Price (with the understanding that most of said price was skilled labor cost, insurance, and the physical aspects of fireworks supply, e.g. transport, display setting, and firing the rockets) agreed upon per display. 4. Capacity (a) The owner has possession of full faculties and is willing to enter into contracts with a clear understanding of all that is involved in the issuance and acceptance of said contract. 5. Legality (a) The offer was made with the intention to create a legal contract that protects all sides of the bargain. IV. Liability for Spectator Injury 1. In the event that all consideration is taken to appropriately set up and off firecrackers, then observer obligation falls under the domain of tort of risk and office. . “The working assumption is that the small company director has played a significant part in the company's liability in negligence, which has resulted in a claim by an external party for [sic] loss” (Witting, 2013). V. Employment Type and Agency law 1. Employees (a) Payroll taxes must be deducted for employees. 2. Independent Contractors (a) Payroll taxes do not need to be deducted for independent contractors, putting the onus on the contractor to perform such duties for his or
The courts distinguish between an employee, defined in s.248(1) of the Income Tax Act, hereafter, ITA, as the “position of an individual in the service of some other person”. An independent contractor, is someone with a “contract for service.” The case that considered an employee versus and independent contractor was Wiebe Door Service Ltd. v M.N.R. In this case, the applicant owned a door instalment business and had a number of contractors that worked for them. The contractors were responsible for their own taxes, workers compensation and unemployment insurance. However
* Parties who have special contractual rights due to a legally recognized lack of such capacity include minors, the intoxicated, and mentally impaired. All of these parties are said to be incapacitated.
For a company to transact with third parties and to enter into valid business dealings there must be a valid contract concluded in order to create legally binding obligations enforceable between the company and the third party. For a contract to be valid the company must have the requisite legal capacity to enter into the contract and the directors or officers representing the company must have the authority to act on its behalf. Within company law, capacity and authority are interrelated principles however it is important to note that each is an entirely different and separate legal concept from the other. Capacity relates to the legal competency and the powers of the company while authority relates to the power of a company's director or officer to act on behalf of the
The Seller is a corporation duly organized, validly existing and in good standing under the laws of the state of its incorporation as set forth in Schedule 2, with all requisite corporate power and authority to own, operate and lease its properties, and to carry on its business as now being conducted. The Seller is duly qualified to do business and is in good standing in each jurisdiction where the conduct of its business or the ownership of its property requires such qualification. The jurisdictions in which the Seller is qualified to do business are set forth in Schedule 2 hereto.
Rule : : Contract formation requires mutual assent (offer and acceptance), consideration, and no viable defenses to contract formation.
Acme Fireworks is a fireworks retailer that sells fireworks. They also put on both ground and aerial firework displays. The company was started two years ago in the owner’s garage and now has 15 employees. This company started as a sole proprietorship, and the owner has never changed the entity. Recently several large companies have showed interest about wanting firework displays on a more regular basis instead of the regular 4th of July season. The owner of Acme Fireworks has discussed that it is possible for this to happen. Acme Fireworks could easily fill these display orders. The owner of Acme Fireworks discussed that it would be possible for there to be a set price, but no specific price was mentioned. Most of the cost for a fireworks display is for insurance, the skilled labor, and the actual cost of the fireworks that will be
In a Chinese ritual, tubes made of bamboo filled with gunpowder were thrown into a fire for explosions. After this, gunpowder and tubes have been used for celebrations. As rockets became more advanced, these “fireworks” became more advanced, with more shapes and sizes.
This is a clear expression of a party accepting agreement to the terms of the offer.
Various liabilities can arise while manufacturing and selling fireworks. Potential personal liabilities can also arise if a customer is injured while using the fireworks and can often be devastating to the owner of a business, especially if the owner is not protected by an appropriate business structure/entity (Rogers, 2012). Hence, in order to expand the business, one of the best precautions would be to change the business from a sole proprietorship to a Limited Liability Company (LLC) (Miller, 2015). Moreover, while transitioning into a larger business, the company would have to hire additional employees or independent contractors so as to keep up with an increase in demand for the products, which leads to the necessity of having a valid contract in place to ensure that every transaction and business dealing is carried out legally (Miller, 2015). Hence, the purpose of this paper will be to provide advice to Acme Fireworks’ owner as the manager on different issues ranging from common law and UCC requirements of business contracts, the essential elements of a contract, personal potential liability in case of injury, the different types of employment and the most appropriate business structure for the company.
Fireworks are one of those things that everyone loves to see every chance they can get. Acme Fireworks wants to start showing fireworks on the regular basis, but it will cost more to hire more people for the labor, insurance, and the service of setting off the fireworks. I will determine if the contract with the businesses will be governed by common law or the Uniform Commercial Code and explain why, analyze whether the owner formed the contract with the business and apply the five essential elements of an enforceable contract. I will explain the potential personal liability to Acme Fireworks if a spectator is injured by a stray firework from a fireworks display, discuss the difference employment types and relationships relevant to agency law and analyze the advantages and disadvantages of each type specific to Acme Fireworks. I will also explain why Acme Fireworks should not operate as a sole proprietorship and I will recommend a new business entity and provide rationale to support my recommendation.
Prior to the fire at the Station nightclub, a crowd of over 400 people was gathered to see a concert with Great White headling. At 11:07 PM, the lights inside the club were dimmed in preparation for the headliner band. When the band got on stage, multi-colored lights for the performance were activated for aesthetic effect. Additionally four pyrotechnic "gerbs" were ignited to get the crowd excited (Grosshandler, Bryner, Madrzykowski, & Kuntz, 2005, p. 2-1).
The banging in the sky,the shouts of thousands of people, and the bright, dazzling lights make everyone gaze at the sky. Fireworks and more specifically their components are present in the cosmos, have enabled evolution, and have fine tuned our cultures. Fireworks are very versatile for any culture no matter the uses. Also fireworks have made an enormous impact on our history, ever since they were created in China. Fireworks are extremely impressive and can be used in several ways.
Acme Fireworks is a reputable fire work company that falls under the form of retailer. In order to gain consumers and sell their products they must put out ground display’s of their fireworks as well as a variety of aerial fireworks, especially their larger products. This company started out as a small family owned business in the back of a man’s garage and as he grew and drew in more consumers he is now a managing fifteen employees that help him operate his business. The company has been a sole proprietorship and the owner has never changed his entity, meaning no partnerships or shareholders. The owner has received numerous inquiries from surrounding businesses if his company would be able to create more personalized fireworks for them on a more regular basis.
Although you can buy many types of fireworks, not all of them may be legal.
As to the domestic market, during the 1990s, increased concerns over environmental pollution and safety of human life and property led more and more cities to regulate he consumption of fireworks and firecrackers. However, all this began to change in the mid-2000s. Beijing lifted a 12-year ban on fireworks in 2005 and other cities followed suit. Over the next ten years, many legal restrictions were lifted.