Business Law

User Generated

ybirgurybeq

Business Finance

Description

Questions 1a through 1g-500 Word count, 2 Scholarly source, Reference, In-text citations, APA format for each source used, correct spelling, grammar, punctuation marks. Must answer each part of questions.

Textbook(s)

Melvin, S. & Katz, M. (2015) The Legal Environment of Business: A Managerial Approach: Theory to Practice / Edition 2

perform your own online research about a contractual dispute which arose in the entertainment industry involving the performer(s) of your choice and address the following questions about the contract which outlined the employment terms and conditions.

1 A. What were the basic terms of the contract(s) you researched?

1 b. Were these terms fair? 1 c. Why did the individual you researched disagree with the contract? 1 d. How did the dispute arise? 1 e. How was the dispute ultimately resolved?

1f. If you were a member of the entertainment industry (employer), how would you change the contract’s terms to help avoid a similar dispute in the future? 1 g. If you were the entertainer (employee), how would you try to amend the terms of any future contract you sign in order to protect yourself?

Support your answer with facts and statistics you have researched. Please cite at least two (2) separate references using proper APA format.

Textbook(s)

Melvin, S. & Katz, M. (2015) The Legal Environment of Business: A Managerial Approach: Theory to Practice / Edition 2

The required words count for this is 1,500 words for the whole 5 questions; you must provide at least two (2) scholarly sources. You must provide a reference and in-text citations using proper APA Format for each source used. You must provide at least two (2) scholarly sources. You must provide a reference and in-text citations using proper APA Format for each source used. References goes after each questions.

Please be sure that your responses are meeting the criteria of academic writing. Please be aware of your spelling, grammar, punctuation, references/citation, etc, should be scholarly, synthesized what you read, and created an analysis in your own words, with reference citations to the sources you consulted, should be carefully proof read for correct spelling, grammar, and sentence construction.

Which employees are exempt from the FLSA protections?

2. An employee hired as a computer programmer at a software manufacturing company for an annual salary of $50,000.

3. An architect hired to work for a design-build construction company at a rate of $85,000 per year.

4. A cashier at a supermarket who is paid $10 per hour.

5. An assistant store manager whose duties also include routine work such as stocking shelves during busy seasons.

6. An employee hired to sell life insurance for an insurance company who is paid a base salary of $15,000 plus a 10 percent commission on all insurance sold.

User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.

Explanation & Answer

Attached.

Business Law – Outline
I.
II.

The basic terms of contract in my research
Whether the terms were fair

III.

Reasons for disagreement

IV.

How the dispute arose

V.
VI.
VII.

Solution
How I would amend the law
The employee exempted from FLSA protection


Running head: BUSINESS LAW

1

Business Law
Name
Institution

Business Law

BUSINESS LAW

2

1a. What were the basic terms of the contract(s) you researched?
I researched a contract between a Music band and a record Company. The record
company signed an exclusive agreement. It meant that the record company would not record for
any other musician during that term of their contract with the Musician (Greenfield, & Osborn,
2016). One of the terms of the contract was that the record company was to pay 75 percent for
the band's royalty rate for all the sales made outside the United States and 50 percent of royalty
rate for the sales of CDs made through record clubs (Greenfield, & Osborn, 2016). The record
company is not to pay any royalty rate to records given out free for promotion. The Music band
is to pay the producer 3 percent from the royalty rate. It is also to pay 37 percent for packaging
from the royalty rate. The terms of the contract also included “recoupment.” Recoupment is the
money the record company spends on the band which includes all studio time, advance payment,
money to promote the band and for general upkeep during that time of recording (Melvin, &
Katz, 2015). All this money is a loan extended the band by the record company. It is known as
recoupment.
1 b. Were these terms fair?
The terms were not fair. After all the deductions the band was getting $ 1.00 per CD sold.
It owed the company a recoupment f around $250,000.00. It means the band had to sell over one
million CDs to meet all its expenses and pay the debt. The terms meant that the band had to take
a long time to earn any profits as well as to pay the recoup. They needed to have songs that were
fast selling to earn any fruits of their labor.

1 c. Why did the individual you researched disagree with the contract?

BUSINESS LAW

3

The leading cause of the disagreement was because the recording company had borrowed
the money for the recoup from a financial institution. It had high hopes in the music the band
was releasing and expected it to sell fast enough to pay the recoup and other expenses from the
royalty rate. Unfortunately, the sale was slow, and it looked like it would take a long time. On
the other hand, the band needed money for its upkeep.
1 d. How did the dispute arise?
The dispute concerned the band demanding to have a small percentage of the sales of
CDs before paying for all the expenses and all the recoup. The recording company was under
pressure from the financial institution to pay its loan. It, therefore, wouldn’t give the band any
money from the sale of the CDs.
1 e. How was the dispute ultimately resolved?
The band had signed the recording contract be...


Anonymous
Really great stuff, couldn't ask for more.

Studypool
4.7
Trustpilot
4.5
Sitejabber
4.4

Related Tags