LAW 201 Lecture Notes - Lecture 9: Legal Personality, Sole Proprietorship, Retainer Agreement

• School: Queen's University
• Department: Law
• Course: LAW 201
• Professor: Mary Jo- Maur

Document Summary

John, paul, ringo pt 1: why business law, qui(cid:272)k re(cid:448)ie(cid:449) of (cid:449)eek"s (cid:373)aterial a(cid:271)out (cid:271)usi(cid:374)ess stru(cid:272)tures, some thoughts about incorporating, corporate crime. Business law: a very broad area of law- covers contracting, finance, banking, taxation, administrative law, employment, transactional work and business structures, our sli(cid:272)e to(cid:374)ight= (cid:862)(cid:271)usi(cid:374)ess asso(cid:272)iatio(cid:374)s(cid:863) (cid:894)a(cid:374)d (cid:272)orporate (cid:272)ri(cid:373)e(cid:895) The law of business associations: attributes of each business structure, for owners, for managers, to strangers (liability, leads to determination of best structure, provides also rules of governance. Joint ventures- contractual relations to develop a project. John has run a small coffee shop as a sole proprietor. He decides to join forces with ringo- a skilled chef- and paul, who owns a desirable retail space, to form a restaurant venture. Then goes to shareholders which gets taxed as well. The restaura(cid:374)t i(cid:374)(cid:272)orporates (cid:894)as (cid:862)stra(cid:449)(cid:271)err(cid:455) fields (cid:271)istro i(cid:374)(cid:272). (cid:863)(cid:895). Paul does (cid:374)ot (cid:449)a(cid:374)t to (cid:271)e a(cid:272)ti(cid:448)e in the business; consequently, john and ringo will be the directors.