What are the legal implications of a partner's authority to bind the partnership to contracts and agreements?
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- The four agree to a formula under which they will price the shares pursuant to granting each other the right to buy the shares of an owner who decides to sell. This is an example of what kind of restriction on transfer? Multiple Choice Provision disqualifying purchasers Put agreement Consent constraint Buy-and-sell Option agreementWhat are the elements of a contract? Explain who the parties of a contract might be.SECTION D Read the following extract and then answer the question belowA client is interested in setting up a business and does not know which form of business to use. He has been told that he can form a sole proprietorship, or partnership, or a limited liability company. He comes seeking for business advises on the advantages and disadvantages of a registered company. Make a comparison between a sole proprietorship, partnership, and a limited liability company.
- What are the different methods of resolving the disputes and the method’s advantages?Able does not ever want Baker's shares to be transferred to Baker's brother, who has been convicted of criminal fraud and embezzlement on several occasions and who is currently serving time in a federal prison for one of those convictions. Which of the following types of restrictions on the transfer of Baker's shares might Able insist to accomplish this, even if Carter and Dennis don't share Able's concerns? Multiple Choice A put agreement Option agreement Provision disqualifying purchasers Buy-and-sell agreement Right of first refusalWhat are the main differences between arbitration and mediation in negotiation? Briefly explain both!
- Describe the differences between a sole proprietorship, a partnership, and a corporation as business entities, including their advantages and disadvantages from a legal perspective.Late one evening Charles and Henry are discussing the purchase and sale of $2,500 of coffee shop equipment after entrepreneurship class. They are in the classroom when Henry writes their agreement on the classroom whiteboard and both Henry and Charles sign it on the whiteboard. Discuss if this whiteboard document is sufficient to provide a binding written agreement?What are assignments of contracts and what rights and obligations do they confer?
- What are the benefits of adhering to the principle of delegation of authority in a company?What elements determine firm performance? Explain.Read the case of Lambert v. Barron. What are the most important facts that support Lambert’s position that a contract existed? What are the most important facts that support Barron’s position that a contract did not exist? Do you agree with the outcome of the case? https://caselaw.findlaw.com/la-court-of-appeal/1241354.html