W2A1Marketing

| March 29, 2017

Question
a.)Rusty Nales worked in construction while attending college to earn a degree in real estate and construction management. After obtaining his real estate license and working for a large company for several years, he decided to go open his own custom homes business. Rusty and his two friends, Woody and Hal talked about purchasing property, building custom homes and selling the homes to wealthy families. Rusty would be in charge of purchasing the initial properties and resale of the finished homes. Woody would be in charge of construction, such as hiring contractors and obtaining permits. Hal would oversee the business functions such as financing and other administrative tasks.

Discuss the advantages and disadvantages of at least 3 of the following types of business organizations as they specifically apply to the proposed business. Which type of business organization should the three friends select? Why?
Sole Proprietorship
General Partnership
Limited Partnership
Limited Liability Partnership
Joint Venture
Limited Liability Company
Corporation
b.)Consider this business and In one to two paragraphs, address the following topics.

Select one of the products or services the company will provide. Discuss potential product liability or other tort issues associated with your selection and how this company can avoid these potential risks.
Explain the applicability of the UCC to your use of sales contracts and warranties.
Identify the shipping term from Chapter 24 you would prefer to use when purchasing goods you need for the business. Is the term you selected the same one you would use when shipping goods to customers? If not, which term would be best for shipping to your customers? Explain your choices.
Answer B only one to 2 paragraphs

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