User Account

All Pages

Explain the potential personal liability to acme fireworks

Assignment Help Management Theories
Reference no: EM131158553

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 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.

Reference no: EM131158553

Questions Cloud

Professional experience or discipline knowledge : Relate or made a connection between incident or issue and own skills, professional experience or discipline knowledge
Which ion or ions are present in the sample solution : A precipitate formed when the sample solution was made basic with NaOH. Which ion or ions are present in the sample solution?
Internal controls and capital play within a competitive : What role do internal controls and capital play within a competitive firm? How can a firm better utilize and manage its assets and liabilities? What role do regulations play within the marketplace?
Write down every step of writing the net ionic equation : Write net ionic equations for the reaction, if any, that occurs when aqueous solutions of the following are mixed.
Explain the potential personal liability to acme fireworks : 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 disadva..
Npv analysis without a cost of capital : Do you think the same kind of analysis can or should be done in small companies, non-profits or schools? Given that they don't have publicly traded stocks or bonds how would you go about doing NPV analysis without a cost of capital?
Are there influences that deviate from the principle : Describe an example of balanced polymorphism, other than sickle-cell disease, glucose-6-phosphate dehydrogenase (G6PD) deficiency, phenylketonuria (PKU), prior protein mutation, cystic fibrosis (CF), and Smith-Lemli-Opitz syndrome (SLOS).
Senior management of thermo fisher : It is early December 2015. The shareholders and senior management of ThermoFisher have been waiting patiently for a couple of months to receive financial guidance for next year.
Business model analysis the start up business model : End Outcome: The formulation of a new, innovative business model for a new company.Undertake a business model canvas study. (Note: It is strongly recommended that you use the business model canvas diagram in this section of the assignment)

Reviews

Write a Review

Management Theories Questions & Answers

  Discuss different types of leadership

Write an report of  harvard style 2500 words excluding  Referencing,  Discuss different types of leadership and how they influence the workplace attitudes and behaviors of followers.

  The project manager for your organization

You are the project manager for your organization and you're working with several vendors that complete different parts of your project. In this project, your project management office has directed you to use subnets for the portions of the projec..

  Technology infrastructure lines up with business projects

When technology infrastructure lines up with business projects like musicians in a marching band, you know you have a good enterprise architect on staff. Enterprise architecture focuses on four crucial C's: connection, collaboration, communication..

  Account when working in multiple nations

Considerations an American based organization needs to take into account when working in multiple nations with vastly different employment laws.

  Provide the senior management team with turnover costs

As the HR manager you must provide the senior management team with turnover costs for the following high turnover position. Use Web sites such as www.talentkeepers.com and www.keepemployees.com to calculate turnover and analyze the variables invol..

  Many businesses have upgraded to an online platform

Now thatmany businesses have upgraded to an online platform, are paper catalogs a thing of the past? Class let's look at this from both sides of the table, both the consumer and the manager. Would you rather have an online or a paper catalog? What ar..

  End-user-developed information systems

Discuss the reasons why end-user-developed information systems can be of poor quality. What can be done to improve this situation?

  Analyze the primary problems

From the scenario, analyze the primary problems associated with information management, and analyze the primary issues associated with patient confidentiality. Determine the major ways in which these overlapping responsibilities play a part in enforc..

  Use the mgfs and find the kurtosis of a standard normal

The kurtosis is a measure of the "peaked ness" of a probability distribution. Use the mgfs and find the kurtosis of a standard normal distribution.

  Research aim and questions

When working on these two chapters, I suggest you start with literature review. Literature review can help you to look deeply into the research background, can help you to clarify the research aim and research questions formulated in the proposal and..

  How would you convince stakeholders within the organization

Explain whether design thinking could be effectively integrated into the organization, and why? How would you convince stakeholders within the organization of its value

  Occupational safety and health administration act

Do some research with regards to the U.S. Occupational Safety and Health Administration's (OSHA) Act for compliance and standards which are typically handled within the Human Resources function, and address the following items: To what types of b..

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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