BUS 311 Business Law
Instructor: Janet Fiorentino
As the manager of Acme Fireworks, I need to gather information to help the owner determine whether or not he should continue to be a sole proprietorship or if he should switch to another business entity. I will help him do so by explaining each entity and how they relate to his business situation.
I am the manager of Acme Fireworks, a fireworks retailer who sells fireworks, puts on ground display fireworks, and large aerial display fireworks. The company started in the owner’s garage two years ago and now has 15 employees that you manage. The company started as a sole proprietorship, and the owner has never changed the entity. The …show more content…
According to the owner of Acme Fireworks, an offer was made and accepted, they discussed price and display orders, labor and insurance, and they were all of sound mind. Whether or not the owner of Acme Fireworks realizes it or not, he has entered into an enforceable contract. The next thing I will get into is the personal liability aspect. At this moment in time Acme Fireworks is a sole proprietorship; this means that if a spectator is injured by a stay firework from a firework display the owner is fully responsible. In other