Term Paper In Business And Marketing: Two Different Fact Patterns

Term Paper in Business and Marketing
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28 April 2017
Abstract
This is a research paper on the two different fact patterns that consists of difficult situations and scenarios encountered by different individuals in the field of business and entrepreneurship. The various laws and legal procedures applicable to these cases are explained and given in the subsections of this paper to further provide possible solutions to solve the issues at hand. Likewise, this term paper also used an authentic book source in answering the queries and dilemma for every case to exemplify a genuine legal approach that will help the readers and learners. A brief description of the stories will be given to determine the facts, issues and what exact laws must be applied and what court procedures must be exercised and observed. The conclusion is given at the end of this paper for the generalization and summary of the important points needed to be remembered and considered. This paper focuses on several possible future events that an entrepreneur or business person might encounter in the commercial field while in the course of establishing one’s own business ventures.
Introduction
The field of business is not as simple as it seems. Some people think that for as long as they have the capital and money to start up a new corporation, they could earn profits and turn into millionaires. It is not as easy as one, two, and three. Alongside facts and important points that must be studied as one starts in entrepreneurship, there are laws and legal processes that works alongside the business practices and methods. These laws are important to the society in the sense that it helps provide, accuracy, consistency, stability and rules to follow that will aid people to survive. Nevertheless, it also informs citizens who are drawn to the commercial world to be knowledgeable of what is legal and illegal. These laws teach us to know what penalties arise in case of misconduct, commission of an offense, breach of contracts or criminal acts. In addition, these business laws tells us what remedies to take whenever a person has been offended, defrauded, and cheated out of their wealth and robbed off their companies and properties. There is a fine line between honesty, integrity and morality in the business department as opposed to getting rich through easy, quick and illegal schemes. According to Clarkson K.W (2013) that, “the law consists of enforceable rules governing relationships among individuals and between individuals and their society”. The legal procedures have a huge impact in the conduct of business or in making major decisions for and in behalf of a corporation, partnership or even a sole corporation. Likewise, it affects administrative and management actions such as producing products, selling commodities, hiring employees and removing them from the office for just reasons, business financing and the fulfillment of legal requirements for the continuity of business conduct and schedules. There are two Fact Patterns below consisting of a series of circumstances that affected definite individuals who are engaged in a variety of businesses. The different Business laws and processes practiced in the States will be a...