For Trevian - business law

BU2760

Project

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P R O J EC T D ES C R I P T I O N

Project Introduction:

This project will give you an opportunity to demonstrate your knowledge and ability to apply the legal concepts you

have been taught in this course to the concepts of business structure and the formation of a business organization. In

particular, you will go through the process of forming a partnership agreement and highlight the issues of liability that

occur within each of the three most common forms of business structure—sole proprietorship, a general and limited

partnership, and a corporation.

You will complete one final project for this course that you are required to submit it in Week 5.

Course Objectives Tested:

5. Prepare an enforceable contract based on the provided facts.

8. Demonstrate an understanding of the laws that apply to buying, selling, and lease of real property.

BU2760

Project

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P R O J EC T S U B M I S S I O N P L A N

Description/Requirements of Project Evaluation Criteria

Assessment Preparation Checklist:

Perform the following tasks to prepare for this assessment:

Complete the following readings of your textbook,

Business Law:

o Chapter 9, pp. 153–158

o Chapter 34, pp. 529–541

o Chapter 35, pp. 545–552

o Chapter 36, pp. 557–571

Title: Business Structure, Liability, and Partnership

Agreement

1. Develop a hypothetical business you would consider

starting with a friend or relative.

a. Imagine that the friend or relative has sufficient

funds to start the business and that you will be

doing most of the work (for example, if you were

starting a mobile car wash business, you would

be procuring the customers and washing the

cars).

b. Imagine also that you will be performing all the

bookkeeping functions for the business.

2. In a written report, prepare the following:

a. A report to your partner, containing a detailed

description of the differences regarding liability with

respect to a sole proprietorship, a general

partnership, a limited partnership, and a corporation.

b. A completed partnership agreement, including the

following elements ready for signatures using the

partnership agreement included. Click here to

Click here to view the grading

rubric for the project.

BU2760

Project

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Description/Requirements of Project Evaluation Criteria

download the format of a partnership agreement.

I. Detailed description of the business

II. Names of the partners

III. Address of the partnership and the partners

IV. Roles of each of the partners as limited

partners, being as complete and detailed as

possible (you can also be as imaginative as

you need to be with titles and

responsibilities )

V. List of assets provided by each partner

VI. Division of income

VII. Division of partnership liabilities (debts)

VIII. Method by which the partnership may be

dissolved, including what happens in the

event of filing for bankruptcy

Tip: You can use the following diagram to analyze the project

details:

Submission Requirements:

Submit your responses in a minimum of a three-

page, double-spaced Microsoft Word document.

BU2760

Project

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Description/Requirements of Project Evaluation Criteria

Please make sure you include the title page and the

reference page as part of your submission.

Cite sources in the APA format.

Adhere to Standard English grammar, spelling, and

punctuation requirements.

Use 12-point Arial font.

Due: Week 5

Grading Weight: 20%