BUS 311 BUS311 BUS/311 Final Assignment

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BUS 311 BUS311 BUS/311 Final Assignment

Shalease Bethea Acme Fireworks Manager BUS 311 Business Law I Instructor: Leah Westerman

Acme Fireworks is a retail that sells fireworks, puts on ground displays, and large aerial display of fireworks. The company started in the owner’s garage two years ago, and now has expanded to 15 employees under the manager.

Acme Fireworks is a sole proprietorship that is looking to change its entity status due to a recent influx of bigger contract requests. It was discussed that most of the cost for the fireworks display is for skilled labor, insurance, and the actual service of setting off the fireworks.

These large contract requests demand more employees, a higher demand of product, and a higher liability risk.

Description

BUS 311 BUS311 BUS/311 Final Assignment

Shalease Bethea Acme Fireworks Manager BUS 311 Business Law I Instructor: Leah Westerman

Acme Fireworks is a retail that sells fireworks, puts on ground displays, and large aerial display of fireworks. The company started in the owner’s garage two years ago, and now has expanded to 15 employees under the manager.

Acme Fireworks is a sole proprietorship that is looking to change its entity status due to a recent influx of bigger contract requests. It was discussed that most of the cost for the fireworks display is for skilled labor, insurance, and the actual service of setting off the fireworks.

These large contract requests demand more employees, a higher demand of product, and a higher liability risk. The contracts with the business will be governed by Uniform Commercial Code (UCC).

“The Uniform Commercial Code (UCC) to unify state laws affecting commerce into a single code that all states could adopt to make interstate commerce easier and more efficient,” (Rogers, 2012).

It is possible that the inquiring businesses may not all be in the same state as Acme Fireworks, the UCC would allow all transactions to be made on the same footing, unlike in common laws. In common laws, the laws are different regarding sales and taxation from state to state.

Each transaction will be evaluated on a case by case basis. The UCC attempts to unify various state and federal regulator council and functions to facilitate a more streamlined method of conducting business across state lines..

“An offer is an expression of readiness to do something which, if followed by the unconditional acceptance of another person results in a contract, (Community Legal Information Center, 2012).

The offer contains a clear promise to enter a contract. The terms must be reasonable and must be communicated by the person making the promise to the promise. Acme Fireworks had several inquirers for their services.

These customers want Acme Fireworks to create several fireworks displays on a regular basis. The inquirers are offering to pay for needed services in which Acme Fireworks will perform for them.

By accepting the inquirers offer, Acme Fireworks in return agreed to fulfill the requests. The owner informed the offeror that such fulfillment was possible. “Acceptance results in the formation of a contract: both parties are bound and neither can withdraw from the bargain without incurring liability to the other,” (Smith, C. A. 2012).

The owner told the inquirers that he can fill such display orders. This constituted a verbal contract and assures that the orders are capable of being carried out by Acme Fireworks. Also, by accepting this offer, the owner has concluded that he will need to hire more employees to fill all these orders as expected. While the

BUS 311 BUS311 BUS/311 Final Assignment

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