Is your employees’ mistake your liability?

Vicarious Liability: (Held liable for the employee’s conduct) Vicarious liability means indirect liability. It arises in cases where the liability of a person’s actions falls on someone else due to the degree of control he exercises on the person accused of misconduct. In the area of employment, the liability of an employee’s acts may fall … Read moreIs your employees’ mistake your liability?

Employee or independent contractor: How to find out?

What are the differences between employee and independent contractor?

At several points it becomes essential for businesses to differentiate between an employee and an independent contractor. There are several points of distinction between the two. Of all the factors that affect one’s status as an employee or a contractor, it is the degree of control the person holds on his job  which is most important. There are several other factors too like the duration of employment, payment, resources used for the job etc. which are used to decide one from the other.

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Business Partnership types and their pros and cons.

Partnership in Business and Its Types Partnership: Partnership implies shared ownership where two people or more share the ownership of a single business. The partners don’t just share the profits and losses of the business but contribute to each and every aspect of the business, whether it is the money, resources, labor or even skills. Since … Read moreBusiness Partnership types and their pros and cons.

What is a sole proprietorship? What are its advantages and disadvantages?

 What is a sole proprietorship? What are its advantages and disadvantages? Sole proprietorship is the most common form of business. It is also the simplest structure and the one that is the easiest to start, usually requiring no or scarce formal action. The most important feature of a sole proprietorship is that there is no distinction … Read moreWhat is a sole proprietorship? What are its advantages and disadvantages?

CONTRACT ELEMENTS

Elements in a legally enforcable contract Contracts: Contracts are a very important part of business agreements. Before two parties form an agreement it is essential that they know their duties and benefits well. Each party is required to perform its duty. Contracts are promises that are enforceable by law. Two parties are believed to have contracted if they form a legally … Read moreCONTRACT ELEMENTS