Question

Given your understanding of the legal aspects of American business, how does it differ from that of your home countries? Do you understand why legal advice is required more in the United States?

Why do you think it is important for your business to keep accurate records? What does your business intend to do to ensure accurate record keeping?

Answer 1

Basically there are three legal forms of business which can be used while starting the business. They include sole proprietorship partnership and corporation type of business. In United States law are derived from various five sources. They are constitutional laws statutorily laws treaties the administrative regulations and common laws which also includes case laws. in business communication legal aspect refers to the words selected for ensuring the conformity with the rules and the regulation which are laid down by failure of countries business law.
Legal administration is required in US. the legal advice is needed more in order to ensure that the best deal available is received. There is no civil code in United States. in contracts of United States double of the parties has a prevailing role. That is the reason contracts in US contain many pages. There is absence of civil code for making up to the omissions. Hence the contract required to provide all details. In a contract it is very important that both are applications of both the parties get delineate along withthe possible outcome if any party lacks on fulfilling its obligation. When elements being carefully specified legal actions get to follow.
Business need to maintain accurate records and prepare accurate financial statements. The business needs to maintain income statement and balance sheet. these records help the business for dealing with the banks and the creditors and also helps in managing the business.