Business law Essay Example | Topics and Well Written Essays - 250 words - 16

Business law - Essay Example What type of business organization has Alpha and Beta formed? To whom, if anyone, is Alpha liable? To whom, if anyone, is Beta liable? The business type formed by the two partnerships is a limited liability company which is not fully a partnership or a corporation. Since the two partnerships did not have any form of agreement as it was a onetime business deal, then each of the members has limited partnership. This type of business organization ensures the members have limited liability and especially on their personal property (Reuting 28). The limited liability however is not applicable where one of the members commits fraud or personally guarantees to repay a debt and later on refutes this claim. In case of personal business that are not linked to the company arises, then liability will be for only the member implicated and not for the rest of the members in the Limited Liability Company (the limited liability does not apply in such a case). Both Alpha and Beta committed fraud, however the frauds committed were different and hence the difference in liability. In the case of Alpha, the fraud was committed against a company that was to provide paper for printing the book that the two partnerships were producing and hence will be liable to both Beta and the printing paper company (Gamma Printing Supplies, Inc). Beta Publications which committed fraud against Delta Literary Agency which was producing articles for its magazine will be liable only to the agency alone and not to Alpha Communications as well. This is so because the agency does is not part of their one-time deal unlike the paper printing

Marine Smith Electronics and Boat Repair Case Study

Marine Smith Electronics and Boat Repair - Case Study Example Customer loyalty and commitment is important for us. Marine Smith has a lot of competition however it is ready to compete ahead and differentiate itself by offering hassle free but a full stocked repair. The customers will be provided with guaranteed boat repair in least possible time. We will have a customer oriented focus on the business; our employees are trained and are held responsible for providing superior services, developing a long lasting trust bond with the customer. This is important because in electronic and boat repair business trust and honest counts more then image of repair facilities. We will focus on both upper and lower class but few of our item prices will be more as depending upon its standard and quality. Marine Smith electronics and boat repair will stand against the barriers and remove them as time passes and the company grows, we expect the business to prosper in the next 3 years. MarineSmith Electronics and Boat Repair will provide electronics and boat repair services to all of Orange County. MISSION STATEMENT Our goal is to successfully penetrate the Orange County market and secure a loyal customer base that recognizes MarineSmith as the leader in Electronics and Boat Repair. ... Our objective is to have at least 95% customer satisfaction in the areas of honesty, reliability, and quality workmanship. Business philosophy is that for the first time we will provide quality workmanship. PRODUCT MARKET AND INDUSTRY Based on our plan we have decided to increase our net profits likewise. The total registered boats in Orange country are 4684 and there usage is divided as in chart Most of the boats are used in recreational activities and so our main focus will be on this area. Our services would be marketed towards boat owners, and being famous for tourism with around 45 million international and domestic tourist (Anaheim Orange country), it has a bright market and loyal customers in the country. COMPANY SUMMARY Marine smith electronics and boat repair is a new company and is a limited liability corporation. The economic growth of the last several years has resulted in increased disposable income. Many people have chosen to spend part of their increased income on their recreational activities. As a result, the need for reliable and convenient repair services has substantially risen as well. Marine Smith will position itself to capitalize on the growing need of the middle and upper class market for quality services in the Orange country. The company will be owned by Mr. Slaurie Smith. The initial startup cost would be as follows,