Examlex
Given the following payroll items you are to identify whether they are the responsibility of the employer and/or the employee by placing an X in the appropriate column.
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Corporations
Legal entities that are separate and distinct from their owners, providing limited liability, easy transferability of shares, and perpetual existence.
Joint Ventures
A business agreement between two or more parties to develop a new entity and new assets by contributing equity.
Common Laws
Laws that have developed through court decisions, traditions, and legal precedents rather than through legislative statutes.
Agency
A legal relationship in which one party (the agent) acts on behalf of another party (the principal) in dealing with third parties.
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