You Have Just Graduated and You Want to Start Your

question 59

Essay

You have just graduated and you want to start your own business.You have a degree in horticulture,so you have chosen to open a florist shop and plant nursery.What type of business entity will you choose? Explain its benefits and detriments in detail.

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Definitions:

Power of Attorney

An official paper authorizing an individual (the agent) to handle legal or financial issues for another person (the principal).

Legal Document

A document that states some contractual relationship or grants some right, enforceable by law.

Contractual Acts

The actions or deeds performed under the terms of a contract or agreement between parties.

Statute of Frauds

A rule of law stipulating that certain categories of agreements must be documented and signed to be legally binding.