Business law

Business law

Question-1

Sole Proprietorship

From the legal perspective there is said to be no difference amidst the business entity and business owner when it comes to sole proprietorships. Any business cannot be termed as a single legal entity since it is the business owner which is said to be personally liable when it comes to the businesses liabilities and debt. In sole proprietorships, if the business owner breaches a contract with one of its stakeholders and the business owner is held responsible for it then the owner's personal assets such as personal possessions like home, car and properties are at stake (www. ...