As the sale and lease of both consumable as well as durable goods are the driving...

As the sale and lease of both consumable as well as durable goods are the driving force of our economic marketplace, they also need be considered as the primary transactions for how individual businesses do business.The need to limit and/or somehow control the legal liability that emanates from such transactions is of, however, critical importance .

Various mechanisms have been considered, implemented and relied upon to contain this potential and often costly liability . Considering those, as a result of governmental actions, as well as private sector and individual initiatives, what do you regard as most reliably effective toward the objective of protecting your business entity.

Noting that while there is no one answer to the issue presented, consider the most viable options to address this issue from your perspective as a business student.

Expert Solution

The sale and lease of the consumables as well as the durables are the necessary transactions for tge existing of a business in a marketplace, but the methods by which legal entities and liabilities are xontrolled also plays a major role. Although there have been many methods implemented by the system, the necessary actions are always a costly affair that could increase the liability of the business activity.

With the consideration of the above scenario, the following actions may be preferred so that the burden on the business activity is least affected.

The memorandum of understanding is to be prepares by considering all the legal aspects so that the legal liability cost could be reduced in cases of future issues.
The legal framework of the business should always be updated on a frequent basis so that no unnecessary loss is being caised to the firm.
Cost effective methods could be implemented in staging legal framework.

All the above strategies could be followed so that the legal liability burden of a business is reduced and hence would bring benefits to the business.

Rahul Sunny answered 1 year ago

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