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...introduction to Business Organization
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$ 18.23
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1400352 |
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Item Description...
Product Description
Purchase of this book includes free trial access to www.million-books.com where you can read more than a million books for free. This is an OCR edition with typos. Excerpt from book: Ill LEGAL ASPECTS OF BUSINESS ORGANIZATION With these introductory considerations before us, we may pass to an examination of the legal aspects of business organization. It is quite obvious that it is necessary to fix legal responsibility in our daily business operations. As a result, commercial law has rapidly expanded in recent years. Business institutions and methods have been given a legal setting for the purpose of fixing responsibility in all of its phases. In a simple business community the legal rules are likewise simple, but with business growth and expansion comes a corresponding growth of the law governing such transactions. The managers of large firms and establishments must be made responsible in their work. Again, the investor must have protection or he will not put his capital into business ventures. As a result, the law furnishes the foundation for all business transactions. It is our purpose to point out briefly how this has been brought about, and especially how the law has influenced the organization of business. From a legal point of view business organization may be divided into two classes---noncorporate and corporate. In the first type the individual assumes legal responsibility, and in the second this responsibility attaches to an artificial legal entity or person---the corporation---but not to the individuals that control the corporation. There are certain intermediate steps between these two types, but they may be considered as modifications of the one or the other. For instance, the partnership is a combination of individuals, but still the liability of the individual partner and of his private property for the debts of the partnership are essential features of this type of organization. On the other hand, we have to-day a class of artificial legal en...
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Item Specifications...
Pages 202
Dimensions: Length: 9" Width: 6" Height: 0.46"
Weight: 0.67 lbs.
Binding Softcover
Release Date Aug 4, 2009
ISBN 1458953734
EAN 9781458953735
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Availability 0 units.
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