Business Law 1 Short Answer Home Work Assignment
The business environment is one pivotal sector that demands adequate control through rules and regulations that govern how they operate. As such, the business law and the legal setting are crucial elements that must always work in liaison for the betterment of services and well as improved functionality dictated by law. In this particular essay, three questions form the subject of discussion. First, joint ventures are one of the most common yet frequently misunderstood forms of business. It involves collective decision making and liability. Therefore, the Jerome and Gary’s actions affect Sheila and the complainant can recover the damages. In the second case, the cranberry growers acted in violation of fair trade environment and antitrust laws giving them an unfair advantage over the competitors. Lastly, the Ellis case is weak because individuals cannot be held culpable for offenses committed at a corporate level even if they are the proven company owners. Corporate responsibility deviates from individual liability.
The case presented in this scenario is a joint venture among three people namely Jerome, Gray, and Sheila. Twomey & Jennings (2014) describe joint venture as a relationship between two or more people with the aim to share profits as well as loses in equal proportion. To this extent, the suit against Meadowbrook Playground affects all the th…
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