Ch. 14 Legal Environment – Flashcards

Carl sells Direct Marketing Enterprises, a sole proprietorship, to Eve. This is a transfer of

Jim organized, and owns and operates. Jim's Landscaping Service in the simplest form of business organization. This is

Kelly, the owner of Llama Farms, a sole proprietorship, wants to obtain additional business capital but to maintain control. This can best be accomplished by

Jody owns KuppaJava Kiosks, a sole proprietorship. Jody's liability is

Guy and Hanna do business as G-H Associates, if G-H is a partnership, it is governed by the Uniform Partnership Act

Sable and Rex agree while talking on the phone to form a partnership to deal in transfers of real property, which fall under the Statute of Frauds. Their partnership agreement is legally binding

Megan and Nicole do business as One World Realty. In acting on the firm's behalf in a deal with Property Acquisition Company. Megan fails to account for the profit. To her firm, Megan is

Hud and Iggy from Jerry-Bilt Construction to enter into the contract to build one bridge. Under their partnership agreement, Jerry-Bilt is to dissolve when the bridge is built. Iggy signs a contract fro the firm to build a second bridge. Jerry-Bilt

Esteban and Florian want to form a limited liability company (LLC) to manage their business, Gordian Nuts. LLC statutes have been adopted in

Sustainable Café LLC is a limited liability company. Like any other LLC, unless Sustainable Café chooses otherwise, the firm will be taxed as

Real Events Promotion Corporation licenses Stadium Souvenirs, Inc., to sell Real Events caps, sweatshirts, and similar goods. This is