Free Essays on Liability to Get Inspired & Learn by Example

M.B.C Tax Consultants
1234 – 0090

New York
456-890
5th Avenue
Hillpark
Dear Sir
REF: TAX LIABILITY IN SALE OF BUILDING AND PURCHASE OF CO-OP UNIT SHARES
Scenario 1
With the intentions of making a sale that will amount to the offer by the client for $850,000, it will be very implicit that the client will be liable for income tax on the gains made from the sale of the assets. The data that you have provided, records that the property/ building was bought at the price of $500,000, subject to the accounting, provision in the IRS (2015) Continue reading...

Based on the research I conducted, it would be advisable to first concentrate on the pros and cons of each type. There are many different business formations that Gloria Smithson can engage into to. The formations include; partnership, limited liability company and corporations. In partnerships, the members should be between a minimum of two and a maximum of twenty members for it to be valid (Eisler, R. 2003). When they join a partnership, there will be limited liabilities in such a way that the members are obligated to share the liabilities hence easing the burden of carrying the whole Continue reading...

Sales is an activity which involves the transfer of goods from one person to another, along with the transfer of goods, it also means the transfer of ownership and risk in the goods. In exchange for the goods, a payment is received immediately or in the future, which means the goods are sold in cash or credit. Cash sales means immediate receipt of money for the goods and credit sales means the receipt of money is determined for some time in the future. Each time a sales is made, the sales account is credited and the cash or bank Continue reading...

Business Law

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Business Law
The owner of a manufacturing business has grown significantly and looking at making some necessary business decisions as profit increases, along with risk and liability. The company produces a number of items that require carpentry and wood work. These products include wood moldings, hardwood doors, high-end kitchen cabinets, specialty cabinets and bookcases for dens, home libraries, offices, and any merchandise made of wood. As a sole proprietor of his growing business with in house employees, as well occasionally hiring outside subcontractors, he is considering the type of business operation most suitable for his company. In Continue reading...

Third party liability insurance defines a coverage for losses damages or even injuries that may be inflicted on another party based on the actions of the policyholder. It is often referred to as third party liability insurance since the coverage’s only deals with the well-being of other parties other than that of the policy provider (Bassett, 2009).
Third party car liability insurance ensures that the damages to a third party health and property that is caused by an accident for which a driver or car owner were responsible is covered. The compulsory third party car liability insurance describes Continue reading...

Business Law

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Business Law
The owner of a manufacturing business has grown significantly and looking at making some necessary business decisions as profit increases, along with risk and liability. The company produces a number of items that require carpentry and wood work. These products include wood moldings, hardwood doors, high-end kitchen cabinets, specialty cabinets and bookcases for dens, home libraries, offices, and any merchandise made of wood. As a sole proprietor of his growing business with in house employees, as well occasionally hiring outside subcontractors, he is considering the type of business operation most suitable for his company. In Continue reading...

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It is the responsibility of the government to instigate and implement laws to protect its citizens against unlawful acts and injuries. These laws apply and differ whether the committed offense is a tort or a crime. An illegal act that restricts another property or individual refers to a tort. On the other hand, any wrongful behavior defined by the federal government or the state refers to a crime . The defendant is the perpetrator, whereas, the plaintiff is the victim in both tort and crime cases. The objective of filing a crime is Continue reading...

Introduction

Across the international divide, there continues to be a great debate on the criminal liability of mentally ill or unstable people who commit crime. The opinion is divided right at the middle with some calling for the full force of the law to be applied to mentally ill persons who commit crimes and others calling for relaxation of the law when dealing with such persons. In regard to the second group of people who claim for the relaxation of the law when dealing with these people, the primary recommendation is that the mentally ill and unstable should be hospitalized Continue reading...

Riley v California

Summary
The question before the court was whether police would need a specific warrant to search the digital data from say a phone of an arrested person. In this particular case, Mr. Riley was arrested and the police had access to his smartphone in which they (read police) retrieved information connecting the arrested person to a previous shooting. The defendant, Mr. Riley, argued that the information retrieved from his smartphone was contrary to his privacy rights under the Fourth Amendment. In essence, his argument was that the court must disregard the information derived holding that the search had violated Continue reading...

Introduction

As the healthcare industry approached global standards, diversified populations worldwide seek ways of engaging in delivering care in multinational corporations. Healthcare professionals no longer work in their mother countries but are employed in international organizations. The changing trends and concepts of the healthcare sector create significant challenges towards the delivery of quality care. Changes in healthcare occur under the influence of three primary forces; a revolution in care; regulatory reform; and impact of new science. On the other hand, issues related to negligence and malpractices exercised by professionals operating internationally in the global healthcare sector. Additionally, both global and Continue reading...