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Business Law Questions

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Business Law Questions

A. Briefly describe the steps involved in the litigation process

There are four basic stages in the litigation process. The first is the pleading stage; this is where in a civil case the plaintiff files a complaint against the defendant stating the injustice caused by the defendant. Summons are then issued to the defendant. The defendant can then file a motion to dismiss in answer to the plaintiff's summons. A motion for judgment is the next stage the parties can then decide to arbitrate the case or proceed to the trial. The second stage is the Pre-trial stage this is where interegation questions are asked by the plaintiff’s attorney or lawyer to the defense lawyer. Witness testimonies are then recorded this is called deposition or deposing witnesses. Both of these stages are known as discovery. The court then decides at this stage whether to continue to trial or advise the parties to arbitrate this is known as the motion for summary judgment. Once the court substantiates that there is enough evidence a pretrial order is given notifying the parties of the trial schedule. The third stage is a trial where the jury is selected. The plaintiff then defense testimonies are presented. The judge then directs the jury who then come up with a verdict. The judge then gives judgment based on the verdict by the jury. The final stage is the Post trial stage where appeals can be lodged by either the plaintiff or defense if they are not satisfied with the outcome (Carlton, 2012).

B. Briefly describe the four elements of an enforceable contract

The first element is the offer; the second element is an acceptance of the offer. The third is intention of legal consequences that means both parties are aware of the legal consequences of their agreement. The final element is consideration; this means that the parties agree to do something for the benefit of the other. For example; supplying goods to receive payment (Small business, 2014).

C. Briefly describe two advantages and two disadvantages of running a business as a sole proprietorship.

The owner of a sole proprietorship can make decisions quickly as he is the one who runs the business. The second advantage is there are few legal costs or requirements to start a sole proprietorship. The first disadvantage is the sole proprietor can be held personally liable for debts incurred by the business. The second disadvantage is it is challenging to get financial backing in sole proprietorships than it is for a company (New York Times, 2007).

D. Briefly describe two benefits of well-worded contracts.

The first benefit is that it avoids ambiguity. That is each party is clear of their duties and or obligations in the terms of the contract. The second benefit is in case of disagreement that leads to litigation; a well-worded contract can be used as a defense (labor, 2014).

References

Carlton. (2012). The Trial Process. Retrieved from http://serc.carleton.edu/woburn/issues/trial_process

Small business. (2014). Four Essential Elements of a Contract. Retrieved from http://www.smallbusiness.wa.gov.au/four-essential-elements-of-a-contract/

New York Times. (2007). Advantages and Disadvantages of Sole Proprietorships. Retrieved from http://www.nytimes.com/allbusiness/AB4113314_primary.html

Labor. (2014) Written contracts. Retrieved from http://www.labour.gov.hk/eng/public/wcp/WrittenContract.pdf