How To Answer Law Questions

As you study business law you will need to complete some legal questions or case-studies. When you analyze a case or business question we recommend that you use the following Clever process: The following process, I.R.A.C, provides a framework for organizing the facts of a case so that you will be able to answer to […]

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Legal Terms

Legal Terms You Should Know

Why Is Understanding Business Law Terms Important? Lawyers use many specialized words and terms. Some words have a different meaning in legal terms to the same words when used in normal everyday conversation. It is, therefore, important to have an understanding of the main legal terms, especially if you become involved in the legal system. […]

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Business Law

What Is Law?

What is ‘Law’? We are faced with references to ‘Law’ and ‘Legal Issues’ nearly everyday in the news, movies and even sit-coms and comedy shows. It is an important part of our daily life as it controls what we can and cannot do in our general life as well as business. As ‘Law’ is such […]

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Partnership

Business Partnerships – Business Entities

A partnership is made up of two or more individuals who are in business together. Partnerships may be a small family operation, or a larger legal or accounting firm. The two main types of partnerships are: General partnership. Limited partnership. General partnerships No express agreement is required for this type of partnership. Partners invest their money, property, […]

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business entity

Choosing A Business Entity

This is the first article in our Business Law series. This section covers the different types of business legal entities (legal types of business). It is important for business owners to understand the main differences between business organizations and which business organization is best for them as it affects: How the business is taxed. The […]

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