LAW 122 Study Guide - Comprehensive Final Exam Guide - Test Cricket, Sole Proprietorship, Negligence
20 Nov 2018
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Theme: what are the four basic forms of business organization: sole proprietorship, the general partnership (partnership) , limited liability partnership. Legal principles: legislation: business name act, ontario partnership. Act & case law (see footnotes) & the partnership agreement (contract) One: businesses must understand and manage legal risks the risk management process in this context, the risk to third parties (stakeholders) Identification: recognize legal risks (of the bus organ) sole proprietorship or limited partnership. In the summer, you agree to cut your neighbour"s lawn and you enter into a contract to cut the lawn every two weeks for two months. Thus, you are carrying out a business as a sole proprietor. Your business grows and you are too busy so, you hire your friend as an employee and enter into a contract with your friend. You remain responsible for all the obligations. This past weekend, your friend breaks her leg and is unable to work and you have.
