Acme Fireworks - 2308 Words

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†¦show more content†¦The owner is trying to advance his sole proprietor business by making a contract with other businesses. The outside businesses had inquired if Acme Fireworks could sign an agreement with them on creating several fireworks displays regularly. The agreement between the two parties does not necessarily mean that they have sealed a contract. However, Acme Fireworks agreed with the other re tailers that they are in a position to fulfill their request. Moreover, the parties agreed on a price per display. Therefore, it entails an implied contract with the retailers. To ensure the activities move smoothly, it would be ideal that a simple contract is drawn for each of the businesses and signed by the relevant people. According to Rogers (2012), a contract is a legally enforceable agreement. However, the following are the vital steps contained in each contract. Also, without them the contract would not be considered valid. First, an offer entails a statement by one party who is willing to make a contract under certain conditions keeping in mind that it shall be accepted. Second, acceptance gives a picture of the agreement to the terms offered. According to Rogers (2012), acceptance is considered valid when, (1) it is made by an individual to whom the offer was directed, (2) it is unequivocal, and (3) it is communicated to the offeror. Third, consideration encompasses the te rms of the contracts between the parties. Therefore,Show MoreRelatedAcme Fireworks Is A Sole Proprietorship1770 Words   |  8 Pages Acme Fireworks is a sole proprietorship that has recently attracted the attention of larger retailers who desire to place large reoccurring orders. It is necessary to ascertain if Acme Fireworks can fulfill these orders and what will be necessary to fulfill such great volumes. In this proposal, I will Determine if the contracts with the businesses will be governed by common law or the Uniform Commercial Code, Analyze whether the verbal agreement discussed between the owner and retailer meetsRead MoreAcme Fireworks2324 Words   |  10 Pagesï » ¿ Acme Fireworks Margaret E. Bridges Brian Lahargoue BUS 311 Business Law 1 Growing Acme Fireworks There is much to consider when expanding a business. How will you make, market, and distribute your product. Are you willing to take full liability for your product and understanding the legalities of what happens if your product is defective? Once that has been established, it’s important to make sure that your business dealings are in order. The strength of the contractRead MoreAcme Fireworks Essay990 Words   |  4 PagesProposal 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 doesnt pay a supplier, defaults on a debt, or loses a lawsuitRead MoreA Report On Acme Fireworks2210 Words   |  9 PagesAcme Fireworks is a fireworks retailer that sells fireworks, puts on ground display fireworks, and large aerial display fireworks. There have been several inquiries from businesses who would like to use our service for fireworks displays on a regular basis. As the manager of Acme Fireworks, we are looking to expand our businesses with several inquiries. There are several aspects to consider when determining the most beneficial business structure for this venture. All businesses want to make aRead MoreAcme Fire works And An Enforceable Contract1521 Words   |  7 Pagesorganization called Acme Fireworks and to determine if the laws that these businesses will be governed by, analyze the contracts, apply the five essentials elements of an enforceable contract, explain the potential liability if a spectator is injured, discuss the different employment types relevant to this company, and explain why they should not operate as a sole proprietorship. Acme Fireworks is a fireworks retailer that sells fireworks. They also put on both ground and aerial firework displays. TheRead MoreAcme Fireworks Prospectus Essay1829 Words   |  8 Pages Acme Fireworks Prospectus Jennifer Crawford BUS 311: Business Law I Instructor: Mark A. Cohen October 30, 2014 Acme Fireworks Prospectus Acme Fireworks is a fireworks retailer that sells fireworks, puts on ground display fireworks, and large aerial displays fireworks. Acme Fireworks has been a sole proprietorship since it began two years ago. At this time the owner is receiving inquiries as to Acme Fireworks ability to create fireworks displays on a regular basis. CITATION Rog12 \lRead MoreAcme Fireworks : Business Law2221 Words   |  9 Pages Acme Fireworks Angelica DiMaggio Instructor Malvin BUS311: Business Law May 26, 2016 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 grewRead MoreBusiness Law - Acme Fireworks2432 Words   |  10 PagesBusiness Law - Acme Fireworks Introduction 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 toRead MoreAcme Fireworks Should Not Operate As A Sole Proprietorship2325 Words   |  10 PagesFireworks 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 contr act with the business and apply the five essential elementsRead MoreAn Introduction With A Thesis Statement1064 Words   |  5 Pagesagency law. Finally, my final task as manager will be to recommend a new business entity and recommend that Acme Fireworks company should not operate as a sole proprietorship. Create an outline of the major headings with a two- to three-sentence description of what you will discuss under each heading: Common law or Uniform Commercial Code (UCC): Here I will explain why I think Acme Fireworks should use Common Law. UCC and common law have many differences for example common law requires a description