Potential personal liability for injuries to consumers

Assignment Help Finance Basics
Reference no: EM13754654

You are the manager of Acme 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 proprietor, and the owner has never changed the entity.  The company makes and sells fireworks. The owner has informed you that the company has received inquiries from several large retailers about the company's ability to fill large orders on a regular basis. The owner told the retailers that the company could fill such orders, and a price per unit was agreed upon. No other details were discussed. The owner is anticipating that new employees will need to be hired but is worried that if the large orders 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 does not know what entity to form or how to form it.

The owner has asked you to do the following:

  • Explain potential personal liability for injuries to consumers caused by the product.
  • Analyze whether the owner formed a contract with the retailers applying the five elements as discussed from Week Two to the hypothetical facts.
  • Analyze how different employment types could be used with application of hypothetical facts.
  • Recommend a new business entity. Provide a rationale to support your recommendation.

For each task, be sure to analyze the relevant law, apply the facts to the law, and make a conclusion.

Reference no: EM13754654

Questions Cloud

What positive impacts came out of 9/11 : What positive impacts came out of 9/11?
The bill of rights follows what part of the us constitution : The Bill of Rights follows what part of the U.S. Constitution?
Use resources to research issues in information systems : Use technology and information resources to research issues in information systems. Write clearly and concisely about strategic issues and practices in the information systems domain using proper writing mechanics and technical style conventions
Combinations of discount rates and times : 1. Compute the present value of $100 in t years for the following combinations of discount rates and times:
Potential personal liability for injuries to consumers : Explain potential personal liability for injuries to consumers caused by the product.
The patellar tendon attaches to the tibia : The patellar tendon attaches to the tibia at the tibial tuberosity. The tibial tuberosity is 7 cm from the center of the knee joint. The patellar tendon pulls at a 35 degree angle to tibia. If the patellar tendon produces an external torque around th..
Should we remove all barriers to immigration : Should we remove all barriers to immigration into the United States? What would be the outcome - If we could let in an extra hundred thousand immigrants every year, should we favor certain immigrants over others? Why?
What way stalin era represent a revolutionary transformation : In what way did the Stalin era represent a revolutionary transformation of Soviet society? How did people experience this transformation?
What velocity was it released : A stone is thrown upwards from the edge of a clif 20m high. It just misses the cliff on the way down and hits the ground below with a speed of 30m/s. a. With what velocity was it released?b. What is its maximum height above the cliff?

Reviews

Write a Review

 

Finance Basics Questions & Answers

  The net profit margin

Complete the balance sheet. Does the firm require additional external financing hint EFR calculation)? If so, how much?

  What is the operating cycle at telecraft

Telecraft Enterprises carries 45 days of inventory in its stores. Last year Telecraft reported net sales of $1,302,300 and had receivables of $322,000 at the end of the year. What is the operating cycle at Telecraft ?

  Assume that the expectations theory holds what does the

one-year treasury securities yield 6 percent 2-year treasury securities yield 6.5 percent and 3-year treasury

  Relationships for the haslam corporation

Relationships for the Haslam Corporation

  What rate do you need to invest at in order to reach goal

You currently have $900 and need $1500 in 3 years for a down payment on a car. What rate do you need to invest at in order to reach your goal?

  When companies accumulate costs they generally use either a

when companies accumulate costs they generally use either a job-order or a process costing system. the type of system

  The market price by the end of the year is expected to be

stock valuation-single period. mary czech is considering the purchase of stock x at the beginning of the year. the

  Explain the primary roles of the us federal reserve

Briefly explain the primary roles of the U.S. Federal Reserve, the Federal Reserve Chairman, and the Federal Reserve Board. Indicate each party's effectiveness in today's economic environment. Provide support for your explanation.

  Determine the relevant after-tax cash flows

Determine the relevant after-tax cash flows and prepare a cash flow schedule.

  Discounted cash flow method of valuation

Write down the the name of some problems which are associated with using the discounted cash flow technique of valuation.

  Conduct an interview with an employee preferably a

conduct an interview with an employee preferably a supervisor or manager at your current job or a previous job. if you

  Describe the overall planning process and the likely

1.determine what your selected organization would need to take into account when making pricing and service

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd