商法作业

Part ASole traderAdvantages•Have full control and ownership•The owner keeps all profits•Easy to close downDisadvantages•Unlimited liability---can risk their personal assets•No legal entity•Expertise may be limited•Illness and death may restrict business development•Taxation disadvantagesPartnershipAdvantages•Tax advantages through income splitting•Ability to access more capital•Enables pooling of knowledge, experience and skills•Simple and cheap to set up but more expensive than sole trader Disadvantages•Disputes may arise.•Unlimited liability—no legal entity•One partner may dissolve the partnership and effectively ruin the business. CompanyAdvantages•Perpetual existence•Limited liability can make it easier to attract investment•Obtain taxation benefits•Separate legal entityDisadvantages•Manage by board director•Hard and expensive to establish•Companies regulations are strict•Shareholder share the profitsA description of the legal processComparing all kinds of types of company in our basic situation, sole trader is the best choice. I will give you a unique merchant proceedings. First of all, a name of an enterprise should be decided. After considering the name, you need to confirm your name’s availability on the ASIC connect website. Some names will not be allowed. For example, you will not be allowed to choose a name that is identical or closely resembles an existing company name. You need to set up your account with ASIC to register your business name on the ASIC Connect homepage. Follow through on the steps to register your business name. When you decide the company’s name, you should obtain an Australian Business Number (ABN) and a Tax File Number (TFN). Then you need to set up your account with ASIC to register your business name on the ASIC Connect homepage. Follow the steps to register your company name. When applying for an Australian business number (ABN) online you will be asked to provide details about your situation, activities and business structure. In addition, you also need have a Tax file number (TFN) and you can obtain one through the Australian Tax Office (ATO). The information you provide in the Tax file number declaration (NAT 3092) will allow your payer to work out how much tax to withhold from payments made to you.In today's society, and insurance are increasingly important in the modern business world. Insurance policy is suitable for your business needs, and can protect you from a variety of contingencies, such as Office or factory fires, storms of theft or damage to your equipment. We need content and equipment insurance.RequirementRegistered company name: this decision, unless a contrary intention:Company name means a name that is reserved or registered under the Corporations Act 2001 for another body.Character means a letter, number or other written symbol.ABN LicensingThe States have partnered with the Australian Government to deliver a new national service called The Australian Business License and Information Service (ABLIS). ABLIS replaces the State websites listed above (although you might still find some useful information there too). ABLIS can identify relevant state, territory, local and Australian government licenses, permits, approvals, regulations and codes of practice, allowing you to obtain detailed information and manage compliance obligations.Profits is all yoursCompany type is the only merchant. All belong to the company's control, so they put all of the profits. Enterprise owns, a person in control and operation. This means that a person who for the purpose of owning and operating profit of his or her own business. In other words, it is not only to meet the economic needs of individuals. No one can tell you what to do, you and your future is in your hands. This will not only make decisions quickly, but it also means that if you make a mistake, they will own errors. Employees listen to you completely.Liability is all yoursWe just mentioned the business is owned by one person. From the point of fairness, although all your profits, you must bear all the responsibilities. As a unique merchant law, you and your company. This mean to your tough business decline, debt find themselves, your boss will take. If the enterprise is declared bankrupt, your personal assets on the line.Sandra's friends wanted to sell her computer on her behalf. On this issue, it relates to the principal-agent problem. If Sandra agrees, the agency will create an institution, including principals ( Sandra ) , agent ( Sandra 's friend ) and third-party ( customer or supplier ) .Agency by contract law, agency agreements with third parties on behalf of clients. Sandra authorized to sell to her friends’ computer, so she should be responsible for certain acts by her friend and third-party tort liability. Especially in business contracts, Sandra's friend is not a party but more likely is a middleman between customers and Sandra contract, it says "private of contract." Sandra should a third party is responsible, when her friend could not meet the customer or agent infringement under the authority of the authority. Sandra should be based on the provisions of the agency appointment contract shall promptly accept the trustee within the scope of the entrusted authority of handling the entrusted firm obtained as a result, and undertake corresponding civil liabilities. Sandra’s friend sell computers, Sandra should pay the remuneration thereto. Due to the reason not attributable to the trustee, entrusts the termination of the contract or the entrusted affair can't complete, the client should pay the corresponding remuneration to the agent. Otherwise agreed by the parties, such agreement prevails. According to law, Sandra's friend as agents and Sandra's liability in respect of product liability is consistent, but Sandra’s friends again after responsibility can recover from the Sandra.As an agent, Sandra's friend is entitled to compensation, compensation and damages from the agent behavior, but she or he must take action to Sandra's best interests to comply with lawful commands. Sandra Sandra's friends should put the interests of their own interests’ institution. Her friends can not represent his or her duties and responsibilities, action personally. As an agent, Sandra's friends have a responsibility to keep a secret profit or commission, maintain an independent and appropriate account in the daily operation. In some cases, her friends can take personal responsibility to their customers. If her friend Sandra breaking legal institutions and business, her friends should be self.。