Trident BUS 205 Business Law 1-6 Discussions

Trident BUS 205 Business Law 1-6 Discussions

Module 1 Discussions

Key Elements of a Binding Contract

Identify the key elements of a binding contract. Choose two of these elements, define each of the two elements that you have selected, and then explain your understanding of why each of the two elements you have selected are essential for a contract to be legally binding. Challenge yourself to be clear and thorough in your answer.

Module 2 Discussions

Forms of Business

Give a definition for each following forms of business or business entities:

1. A general partnership

2. A limited partnership

3. A LLC

4. A type-S corporation

5. A type-C corporation

Determine the best form of business or business entity for a business having the following characteristics and explain why you chose that form of business:

1.Small business,

2. Local in nature

3. Three owners: two contributed a different amount and the third is contributing his or her services in lieu of capital, each of the owners has a spouse and adult children.

Choose among: a general partnership, a limited partnership, a LLC, a type S Corporation, and a type C corporation.

State your assumptions and defend your choice.

Module 3 Discussions

Aspects of Purchase Agreements

When I rent an automobile, I usually am in an airport and anxious to "get on the road." And, since I usually sit pretty far back in the airplane on which I arrive at that airport, I usually am not the first person in line when I finally make it to the car rental station.

I want the process of getting a vehicle to be as quick and as painless as possible.

I believe that showing my credit card and showing my driver's license should be enough.

Why do I have to put up with waiving this or waiving that?

Make a case in favor of why giving them my credit card and driver's license is enough credentialing for a valid contract.

Use citations from the background readings and/or your own research to support your arguments.

Module 4 Discussions

Antitrust Issues

The antitrust laws draw a distinction between those kinds of conduct that are per se violations and those that are subject to a rule of reasonableness.

"Price fixing" where competitors agree among themselves as to the price to be charged to customers for goods is a per se violation, while resale price maintenance or a practice where the seller dictates the prices charged by the customer for resale of goods is subject to the rule of reasonableness.

Discuss the reason behind this distinction and what factors should be considered in determining whether a practice subject to the rule of reasonableness is or is not a violation of the antitrust laws.

Give an example of another kind of conduct that would be a per se violation and another kind of conduct that would be subject to the rule of reasonableness.

Module 5 Discussions

Financing

Define debt financing and equity financing. Explain the pros and cons of each form of financing. Take the position that debt financing is better than equity financing – explain why. Try to be persuasive.

Module 6 Discussions

Wrap-up and Overview

During this session, we have studied different aspects of the administrative aspects of Business Law. Reflect on what you have learned, and how it has influenced your goals and aspirations with regard to your study of business.