Diagnostic Writing In Business Law

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Diagnostic Writing In Business Law

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Diagnostic Writing In Business Law

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Question:

What is the relationship between Alfred, Beatrice and Coco?

Answer:

The relationship between Alfred, Beatrice and Coco can be determined through the application of various business management laws and the idea of forms of business. Alfred and Beatrice are business partners in a bookshop business (Luftman 2014). The relationship between Beatrice and Alfred according to the laws under formation of business structures can be classified as partnership. This is because the two individuals share both the losses and profit as well as make decisions regarding the business. On the other hand, the third party who is Coco in this case is a financier to the business as she has got no shares in the business (Aaronson 2011). Though Coco is involved in making of various major decisions in the business, she cannot be regarded as a partner. This is because she is not involved in the sharing of profits and losses within the business. Coco is a fancier to Alfred and Beatrice since the money is given back to her annually payable from sales less outgoing sales rather than profit.
On the other hand, my answer to this situation would have been different when Coco could be receiving back her money through the generated profit. In a case where Coco would be paid through generated profit the relationship among the three parties would have been different. In such a case the relationship among the three could have been a partnership relationship (Aaronson 2011). This is because in partnership form of business, more than one individual is involved in the business major decision making processes, share profit and losses (Luftman 2014). When an individual in a business receives investment capital inform of profits they are determined as partners. The three could have therefore agreed on the amount Coco would be receiving inform of dividend.

References
Aaronson, S.A., 2011. Limited partnership: Business, government, civil society, and the public in the Extractive Industries Transparency Initiative (EITI). Public Administration and Development, 31(1), pp.50-63.
Luftman, J., 2014. Assessing business-IT alignment maturity. Strategies for information technology governance, 4, p.99

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