Scenario short answer essay question

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Business Finance

Description

Fact Pattern: Joe loves explosives and begins his own demolition company, “Joe the Destroyer.” He doesn’t file any paperwork to begin his company because his friend told him that he didn’t need to file anything to start a sole proprietorship. Joe gets his first job and deposits the money into his personal checking account. He then proceeds to destroy the customer’s house, located at 1234 Serenity Lane. This is an unfortunate event, since the customer wanted the house located at 1200 Serenity Lane demolished.

1.Question: Apply something that you learned in one of the assigned articles on the topic of contracts to the scenario. Cite your sources in APA format. Failing to cite your sources will result in no credit for the question.


2.Question: Apply something that you learned in one of the assigned articles on forms of business organizations to the scenario. Cite your sources in APA format. Failing to cite your sources will result in no credit for the question.


3.Question: Apply something that you learned in one of the assigned articles on lawsuit basics to the scenario. Cite your sources in APA format. Failing to cite your sources will result in no credit for the question.

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Explanation & Answer

Attached.

OUTLINE

1. INTRODUCTION
2. BODY
3. CONCLUSION
4. REFERENCE


Running Head: BUSINESS

BUSINESS LAW
STUDENT NAME
INSTITUTIONAL AFFILIATION
INSTRUCTOR
DATE

BUSINESS

2

Question 1
Contracts
Contracts are said to be agreements which are a lawsuit and are made between two
people, individuals or the group's rights based on their consent and are either oral or written.
Therefore, before Joe agreed with his customer, it is believed there was an agreement that was
made either orally or written. The issue of Joe destroying the wrong house could probably be a
mistake, or actually, there was no formal contract made (Hasl-Kelchner, 2006). Lawfully it can
be very incompetent to start a business without forming any contract which guides the company.
Contracts are always made to guide the whole process so that if any problem may arise,
the written or agreed principles will be applied to solve the emerging issue. From this scenario, it
is evident that there was no formal contact made between...


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