Acme Fireworks Is A Sole Proprietorship

20) With regard to consideration in a sales contract, the UCC differs from the common law in that

As the owner of Acme Fireworks you have asked me, you manager, to review and explain some ideas to you. In the following pages I have explained the potential personal liability for injuries to consumers and what must be on our labels for safety. Analyzed the newly formed contracts with the retailers and the employment and expansion that are needed for Acme to go along with the new contracts, and then concluding with the change of the business entity.

2.  Which article of the UCC sets out the law with regard to the sales of goods?

Longevity/Continuity- Company will likely die off if owner does. The company, being one and the same as the owner, cannot continue without measures being taken to pass on

Change occurs all the time in organizations, it is the one thing that is always consistent. In order for an organization to stay relevant they must re-invent themselves in order to continue to satisfy their customers’ needs. My goal in this paper is to share about an organization called Acme Fireworks and to determine if the laws that these businesses will be governed by, analyze the contracts, apply the five essentials elements of an enforceable contract, explain the potential liability if a spectator is injured, discuss the different employment types relevant to this company, and explain why they should not operate as a sole proprietorship.

| 1) Takes away some level of control of accounting and bookkeeping processes2) Allows vendor access to potentially sensitive financial information

Normally, contracts are governed and enforced by the law in the state in which the agreement was made but depending on the subject matter of the agreement such as property lease and sales of goods thus a contract may be govern by either one or two types of state law, namely; The common Law and The Uniform Commercial Code (UCC).

A new law will probably be introduced into state legislatures which will govern all contracts for the development, sale, licensing, and support of computer software. This law, which has been in development for about ten years, will be an amendment to the Uniform Commercial Code. The amendment is called Article 2B (Law of Licensing) and is loosely based on UCC Article 2 (Law of Sales), which governs sales of goods in all 50 states. A joint committee of the National Conference of Commissioners on Uniform State Laws (NCCUSL) and the American Law Institute is drafting the changes to the UCC.

The Uniform Commercial Code (UCC), in contrast, falls under civil law, “which is based on a rigid code of rules” (businessdictionary.com, 2013). It was established to create a uniform set of laws for business transactions, since common law can vary from state to state (Beatty, Samuelson, Bredeson, 2013). As far as contracts are concerned, Article 2 of the UCC is of most significance. This part of the code deals with the sale of goods. Goods are defined in terms of contracts as anything that is moveable, other than money, investment securities and certain legal rights (Beatty, Samuelson, Bredeson, 2013). Common law, on the other hand, is used for contracts involving the sale of services or anything else other than goods (Beatty, Samuelson, Bredeson, 2013).

All contracts are governed by the state laws where the agreement was made. Nevertheless, a contract can either be governed by the Uniform Commercial Code (UCC) or

The Uniform Commercial Code has been one of the standards for doing business in North Carolina since 1965. Over the years, there have been changes and modifications to the originally adopted code; but, it is important to note that the basics of justice and fairness to all parties involved, have remained the same. As important as the UCC is to commerce today, it is by no means the only law governing business. Prior to the adoption of the UCC, the legal authority for just about every aspect of life – business or personal—has been Common Law. Although the UCC encompasses the ways of commerce today, it is important to remember that business thrives on contracts and Contract Law is still a major portion of Common Law. It stands to reason that each is just as important as the other when it comes to the standards of doing business.

Fireworks are one of those things that everyone loves to see every chance they can get. Acme Fireworks wants to start showing fireworks on the regular basis, but it will cost more to hire more people for the labor, insurance, and the service of setting off the fireworks. I will determine if the contract with the businesses will be governed by common law or the Uniform Commercial Code and explain why, analyze whether the owner formed the contract with the business and apply the five essential elements of an enforceable contract. I will explain the potential personal liability to Acme Fireworks if a spectator is injured by a stray firework from a fireworks display, discuss the difference employment types and relationships relevant to agency law and analyze the advantages and disadvantages of each type specific to Acme Fireworks. I will also explain why Acme Fireworks should not operate as a sole proprietorship and I will recommend a new business entity and provide rationale to support my recommendation.

Most important, the employees can earn stock, which gives them voice within the company to make pertinent decisions.

Acme Fireworks is a reputable fire work company that falls under the form of retailer. In order to gain consumers and sell their products they must put out ground display’s of their fireworks as well as a variety of aerial fireworks, especially their larger products. This company started out as a small family owned business in the back of a man’s garage and as he grew and drew in more consumers he is now a managing fifteen employees that help him operate his business. The company has been a sole proprietorship and the owner has never changed his entity, meaning no partnerships or shareholders. The owner has received numerous inquiries from surrounding businesses if his company would be able to create more personalized fireworks for them on a more regular basis.

Although you can buy many types of fireworks, not all of them may be legal.