ipl-logo

Building Law Essay

801 Words4 Pages
bulb-icon

Recommended: Assignment 031

Aimee Waterhouse Building Law Student ID 11347530 BUILDING LAW – ASSIGNMENT THREE BUSSINESS Task One: Suitable Business Entity I have decided to set up my business with my fellow business partners as a company (as opposed to sole trader or partnership) The reason I have chosen to set up a company is because of the following reasons:  The company is separate from its shareholders and a legal entity in its own right Being that the company is separate from its shareholders (who are the five old classmates who have come together to form this company), the shareholders have limited liability when it comes to the assets and debts of the business.  The company owns its own assets and it responsible for its on liabilities and debts The shareholders …show more content…

I would divide the business up in 5 so that each of the shareholders have equal liability of 20%. If the company went into liquidation, each shareholder would be responsible for the 20% that they own shares in. In order to formally start a company, the business must be registered with the Companies office which looks after and administers registered companies in NZ. There you can find full records of all the companies in New Zealand along with their directors and shareholders. There are also tax obligations when owning a company. Money that is made from the company will be split through the shareholders (amount is determined by their percentage of shares). The shareholders are then taxed based on their income from the business. There are two ways a company can pay its …show more content…

 Consumer Garuntees Act 1993 The purpose of the consumer guarantees act is too makes sure goods and services are fit for purpose, acceptable quality, be the same as the sample or description, reasonable price, ensure repair support and parts are available after purchase, services performed with skill, completed in a fair amount of time and for the purpose of what the where made for. For example: A washing machine is purchased and fails in 3 weeks. The act ensures the purchaser will get a new washing machine. In conclusion: The act has the right to help anyone whose goods or services do not meet the requirements of the act.  Fair Trading Act The purpose of the fair trading act is to stop unfair business, promote fair trade, promote safety in relation to goods and services and monitor consumer feedback. For example: A trader sells a product that claims to be made in New Zealand but is not. This is unfair business which the Fair trading act is designed to protect. In conclusion: the act protects consumers against unfair trade.  Extended

Show More
Related
742 Words | 3 Pages

Jeb and Josh Arcadia Sports business seemed like a good idea until Jane a customer of Josh's white river rafting suffers a concussion while damaging her spine and Jeb's wind farm shut down due to government regulations. Seemingly, in such instances, friends should not go into business with one another. That is because two friends beginning a business surpasses the sole proprietorship with one owner or a married couple to a general partnership with two or more individuals that share equal profits, debt, and liability of the terms of the contract (Kubasek, Brown, Dhooge, Herron & Barkacs, 2017). The drawbacks to the general partnership compared to the sole proprietorship are that one business owner could lose monies and reputation due to the failure of performance from the other business owner.

Read More
1139 Words | 5 Pages

1.Advise Shania on which of the business forms under consideration best accomplishes her business goals. Thoroughly explain the reasons for your recommendation. Shania Jackson is a Christian entrepreneur and she wants to open a Christian Coffeehouse near the Denver, Colorado area. Her husband, Marvin, is willing to participate in the form of capital to the business but has no interest in participating in its operation or management. Knowing this, I believe a limited liability company (LLC) would be the best for Shania’s business goals.

Read More
509 Words | 3 Pages

Wanda has ask me to consult on her business Salty Pawz, As a consultant I feel my responsibilities are to give alternatives and my recommendations with the information I have available Wanda first concern was her personal liability in connection with her company, the alternative to her sole proprietorship would be to form a corporation of the several that are available the only one that makes sense is the limited liability corp. so the options are that or remain a sole proprietorship. My recommendation would be to remain a sole proprietorship, and my reason behind this is she has expressed concern over the hours she has been putting toward her business It takes some time and expense to form a an LLC even though it does resolve her liability issues. It is totally at this point not necessary to do that she can increase her liability insurance to a point that she’s comfortable with and even add product liability insurance to a point where she is comfortable.

Read More
846 Words | 4 Pages

The act states that businesses must follow a certain price restriction as well as condition sales on exclusive deals.4 Ida Tarbell raised awareness of the complications with the monopolies and their control over the American people and helped institute the new act that regulates these

Read More
624 Words | 3 Pages

Also, they need to be careful from not enforcing the client from buying goods that they do not want. It must not restrict to whom the consumer will sell these products. Businesses must be very careful with price discrimination, from lowering their prices really low to drive competitors out of the market, and trying to control the final price for retail stores (181-185). The second obligation is that a business should not advertise false statements, not sell goods for original price if it indicated that the item is on special or reduced price, and not lie to consumers about the performance of a product

Read More
1009 Words | 5 Pages

The main advantage of a sole proprietorship is its simplicity, but the main disadvantage is that the owner's personal assets are not protected from business liabilities. Partnership: A partnership is a business structure where two or more people share ownership of the business and its profits and losses. Partnerships can be either general partnerships, where all partners have equal control and liability, or limited partnerships, where some partners have limited liability. The advantage of a partnership is that it allows for shared control and resources, but the disadvantage is that partners may disagree on important decisions or face personal liability for the business's debts and obligations.

Read More
937 Words | 4 Pages

Law UNIT 2- M1 In this essay I will analyse how law making takes place as well as explaining how Judicial Precedent works. I will in addition talk about delegated legislation as well comparing and contrasting each of these methods. Law making is the process of making rules in order to maintain peace. The main legislative body is Parliament and they make the mains laws for Britain which go through various stages before actually becoming official.

Read More
731 Words | 3 Pages

This article is intended to be a brief overview of the key changes and new concepts which came into force on 1 January 2011, with the enactment of the Competition and Consumer Act 2010 (Cth), replacing the Trade Practices Act 1974 (Cth) ( 'the TPA '). History of the Australian Consumer Law The Trade Practices Amendment (Australian Consumer Law) Act (No. 1) 2010 (Cth) was the first of two Acts to implement the new Australian Consumer Law.

Read More
808 Words | 4 Pages

The act was created to take down monopolies, companies that have taken over all the competition in the area of production to gain profits and raise prices on consumers. The act

Read More
2572 Words | 11 Pages

The impact of gentrification on the older generation of adults in Oakland, California has been profound and multifaceted. Gentrification refers to the process of urban revitalization, typically accompanied by an influx of wealthier residents and an increase in property values. While it brings certain benefits to neighborhoods, such as improved infrastructure and economic growth, it also presents challenges for older adults, especially those on fixed incomes. One of the most significant ways gentrification affects older adults is through the rising cost of living.

Read More
958 Words | 4 Pages

1) In order for me to exist tomorrow, the material thing that I am made of must exist tomorrow. 2) The strongest argument in favor of materialism is simply that we are where our physical body is. That is, simple logic would dictate that if your physical body was sitting in a chair, you would be sitting in a chair. Imagining the opposite, it would be absurd to insist that an entity that takes up no space and has no physical location exist.

Read More
840 Words | 4 Pages

Owners: who have to be able to provide the resources to set up the strategy, they are on the back office but are important decision-makers. They are involved in optimising the company’s profit. Investors: they provide money to help the company to get enough resources to set up the strategy.

Read More
1065 Words | 5 Pages

There are mostly two kinds of Roofing these days. First is the Commercial and other one is the Residential Roofing. Commercial Roofing is used to ensure and seal the highest point of commercial structures while residential roofing is for the security of the private houses and flats. It covers basic entries and avoids leakage of rain water from entering the building. Commercial Roofing by and large has a generally level slant, instead of Residential Roofing, which is regularly steeply inclined.

Read More
4464 Words | 18 Pages

Chapter 1: PROPERTY MANAGEMENT 1.1 WHAT IS PROPERTY MANAGEMENT? Property Management is the operation, control and oversight of a residential, commercial and/or industrial property. The property manager acts on behalf of the owner to preserve the value of the property owned. In return for fee or a percentage of the rent brought in from the property, the property manager provides services to the owner for different types of properties including residential and vacation properties, commercial retail spaces and industrial warehouses.

Read More
2638 Words | 11 Pages

An introduction to highway building: Although there are many methods to constructing a road, all are based on the principle that geographical objects are removed and replaced with harder and more wear-resistant materials. The pre-existing rock and earth is removed by digging or explosions. Tunnels, embankments and bridge are then added when necessary. The material that the road is being constructed from is then laid by various pieces of equipment, which will be looked at in greater detail in this assignment. The construction management of roads has become increasingly more difficult as larger structures are constantly being required in increasingly short amounts of time.

Read More

More about Building Law Essay

Related Topics

Open Document