Business Entity Implications for Contracts

9/8/2018 Assessment 5 – BUS-FP3021 – Summer 2018 – Section 02 Assessment 5 Tutorials Support Business Entity Implications for Contracts Details Attempt 1 Available Attempt 2 Log Out Felicia Smith Attempt 3 Overview Write a 3-page analysis of potential factors and issues associated with four types of business entities in the context of contract law. One of the most common ways in which business managers are involved with business law is in relation to contracts. Organizations of almost any size will most likely need to create, negotiate, review, approve, adhere to, and resolve conflicts associated with contracts. A business determines its legal standing by determining what type of legal entity it should be identified as. The type of legal entity can significantly impact how contracts are handled, as well as how they are interpreted by the courts. By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and assessment criteria: Competency 2: Evaluate the role of contracts in commercial transactions. Analyze contract creation and negotiation for the most common types of business entities. Analyze contract approval for the most common types of business entities. Competency 4: Evaluate legal options to create a business entity. Analyze contract liability for the most common types of business entities. Analyze how choosing among the most common types of business entities affects the ability to sell a business. Competency Map Use this online tool to track your performance and progress through your course. CHECK YOUR PROGRESS SHOW LESS  Resources Suggested Resources The following optional resources are provided to support you in completing the assessment or to provide a helpful context. For additional resources, refer to the Research Resources and Supplemental Resources in the left navigation menu of your courseroom. Capella Multimedia Click the links provided below to view the following multimedia pieces: Analyzing a Case Law | Transcript. https://courserooma.capella.edu/webapps/blackboard/content/listContent.jsp?course_id=_122168_1&content_id=_6474292_1&mode=reset 1/3 9/8/2018 Assessment 5 – BUS-FP3021 – Summer 2018 – Section 02 Throughout this course, you will be required to submit case law analysis papers. This multimedia Support Log Out Felicia Smith presentation points out key areas of aTutorials case law. Use this presentation to help you complete your case analyses. Refer to this media as often as you need to. Business Law Foundational Concepts | Transcript. This media piece offers interactive flashcards that you can use to learn (or review) foundational terms and concepts in business law. Refer to this study aid often and as needed. Library Resources The following e-books or articles from the Capella University Library are linked directly in this course: DuBoff, L. D. (2004).Business Entity Implications for Contracts

The law (in plain English) for small business. Naperville, IL: Sphinx Publishing. Course Library Guide A Capella University library guide has been created specifically for your use in this course. You are encouraged to refer to the resources in the BUS-FP3021– Fundamentals of Business Law Library Guide to help direct your research. Pay particular attention to the Capella University Library Legal Research Library Guide linked within. Internet Resources Access the following resources by clicking the links provided. Please note that URLs change frequently. Permissions for the following links have been either granted or deemed appropriate for educational use at the time of course publication. Nolo. (2013). Nolo law for all. Retrieved from http://www.nolo.com This resource provides helpful background on a range of legal issues. You may find the Free Legal Information section of the site particularly helpful. Bookstore Resources The resources listed below are relevant to the topics and assessments in this course and are not required. Unless noted otherwise, these materials are available for purchase from the Capella University Bookstore. When searching the bookstore, be sure to look for the Course ID with the specific –FP (FlexPath) course designation. Miller, R. L., & Cross, F. B. (2018). The legal environment of business: Text and cases (10th ed.). Boston, MA: Cengage. SHOW LESS  Assessment Instructions 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? Business Entity Implications for Contractshttps://courserooma.capella.edu/webapps/blackboard/content/listContent.jsp?course_id=_122168_1&content_id=_6474292_1&mode=reset 2/3 9/8/2018 Assessment 5 – BUS-FP3021 – Summer 2018 – Section 02 Your analysis should be no more than three double-spaced pages in length. References and citations should Support Log Out Felicia Smith adhere to APA formatting and style guidelines. Tutorials Business Entity Implications for Contracts Scoring Guide Use the scoring guide to enhance your learning. VIEW SCORING GUIDE How to use the scoring guide SUBMIT ASSESSMENT This button will take you to the next available assessment attempt tab, where you will be able to submit your assessment. https://courserooma.capella.edu/webapps/blackboard/content/listContent.jsp?course_id=_122168_1&content_id=_6474292_1&mode=reset 3/3 9/8/2018 Business Entity Implications for Contracts Scoring Guide Business Entity Implications for Contracts Scoring Guide CRITERIA NON-PERFORMANCE BASIC PROFICIENT DISTINGUISHED Analyze contract creation and negotiation for the most common types of business entities. Does not describe contract creation and negotiation in the context of business entities. Describes contract creation and negotiation in the context of business entities. Analyzes contract creation and negotiation for the most common types of business entities. Analyzes contract creation and negotiation for the most common types of business entities and explains why one entity might be considered optimal in this context. Analyze contract approval for the most common types of business entities. Does not describe contract approval in the context of business entities.Business Entity Implications for Contracts

Describes contract approval in the context of business entities. Analyzes contract approval for the most common types of business entities. Analyzes contract approval for the most common types of business entities and explains why one entity might be considered optimal in this context. Analyze contract liability for the most common types of business entities. Does not describe contract liability in the context of business entities. Describes contract liability in the context of business entities.Business Entity Implications for Contracts

Analyzes contract liability for the most common types of business entities. Analyzes contract liability for the most common types of business entities and explains why one entity might be considered optimal in this context. Analyze how choosing among the most common types of business entities affects the ability to sell a business. Does not describe how choosing among the most common types of business entities affects the ability to sell a business. Describes how choosing among the most common types of business entities affects the ability to sell a business. Analyzes how choosing among the most common types of business entities affects the ability to sell a business. Analyzes how choosing among the most common types of business entities affects the ability to sell a business, and explains why one entity might be considered optimal in this context. https://courserooma.capella.edu/bbcswebdav/institution/BUS-FP/BUS-Business Entity Implications for ContractsFP3021/180100/Scoring_Guides/u05a1_scoring_guide.html 1/1 …