Question

1. What are different basic and important constitutional concepts?

2. What is the difference between Intentional and Unintentional torts? elaborate with examples.

3. What is the difference between merger and share exchange?

4. What area of corporate business does the “William Act” address? What are the different rules it provides for the concerned business?

5. Write in detail the procedure of formation and dissolution of LLC.

Business Law questions.

Answer 1

1.)Below is a list of the most important business laws.

Business structure laws: There are different laws for different business entities. Be certain you learn about the business laws that govern the kind of business entity that you choose to start. The major types of businesses are C, S and closed corporations, limited liability companies, and sole proprietorships.

Zoning Laws: It is essential to know about zoning laws, as certain zones are restricted in certain areas. It deals with the kind or type of business allowed in certain areas, how the land surrounding a business is used, signboards, advertisements, and parking.

Licensing Laws: In order to operate a business certain licenses are required and there are some important business laws you need to know. If a business operates without these licenses, it is illegal and the business may be dissolved or forced to close.

Trademark and Patent Laws: These are laws that deal with ownership; intellectual property rights, and inventions. They are necessary to protect the business.

Employment Laws: These are laws regarding the hiring and firing of employees, their rights, compensation, safety, work place discrimination, child labor laws, overtime pay structure, disability laws and unemployment laws.

Tax Laws: This section deals with filing of tax returns and depends on the kind of business entity and the state the business operates in, sales tax. These include franchise tax, income tax and other state and federal tax requirements of a business. These are very important business laws you need to know before starting a business.

Environmental Laws: The government enforces the environmental laws for the discharge of hazardous waste and the recycling laws pertaining to the business.

2)

Intentional Torts:

When an individual or entity intentionally behaves in a way that causes another person harm, it is categorized as an intentional tort. Intentional torts can come with both criminal and civil ramifications for the at-fault party, all of which vary from state to state, but may include mandated court orders, fines, restitution, probation, jail, travel restrictions, bans, money damages and more.

Common examples of intentional torts include assault, battery, defamation of character, fraud, invasion of privacy, false imprisonment, conversion (taking someone else’s property and converting it to their own), trespass to chattel (interference with personal property), trespass to land (using someone’s personal property without consent).

Unintentional Torts:

When an individual or entity unintentionally or inadvertently behaves in a way that causes another person harm, it is categorized as an unintentional tort. Unintentional torts are based around negligence, which even though can be accidental, can still be punishable under civil law. Ramifications usually involve recompense or restitution. Common examples of unintentional torts include car accidents, slip and falls, medical malpractice, dog bites, and workplace accidents.

3)

A merger occurs when two or more constituent business organizations combine and one of them continues as the same legal entity it was before the transaction. The entity that continues is referred to as the “survivor.” The corporation or unincorporated entity which has merged is called the “merged” or “transferor” entity. The merged entity disappears and its existence terminates. The assets of the merged entity are transferred to the survivor. The survivor also assumes the merged entity’s liabilities.

whereas a share exchange is a transaction in which neither corporation ceases to exist. Instead, one corporation acquires some or all of the shares of the other corporation.

4) The Williams Act is a federal law enacted in 1968 that defines the rules of acquisitions and tender offers. It came in response to a wave of hostile takeover attempts from corporate raiders, making cash tender offers for stocks they owned. Cash tender offers threatened to destroy value by forcing shareholders to tender shares on a shortened timetable.