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Business Entity Implications for Contracts
Business Entity Implications for Contracts
Research each of the following types of business entities:
- Sole proprietorship.
- Partnership.
- Corporation.
- Limited liability company (LLC).
Consider potential factors and issues associated with each of these types of business entities in the context of contract law. Write a paper analyzing the following for each of the above four types of business entities:
- Who in the business entity would typically create and negotiate a contract?
- Who in the business entity would typically approve and sign a contract?
- Who in the business entity would have liability associated with the contract?
- What are the effects of the type of business entity on the ability to contract for the sale of the business?
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