Property law Case Study Example | Topics and Well Written Essays - 750 words - 2

Property law - Case Study Example The main disadvantages include sharing of profits among partners, has unlimited liabilities, long process of decision making due to disagreements ,and may have limited life and may end upon death or withdrawal of one of the partners(Miller,Ragazzo,& Hamilton,2011). Corporations If Betty opts for corporation as her form of business organization, the advantages she is likely to get are limited liability to debts and other obligations, it is easier to collect funds for capital and expenses, have continuous life, and easy transfer of corporate ownership. The main disadvantages include many legal and formalities procedures that may be costly and take long to complete, requires relatively large amount of capital to start, and long decision making process because it involves many people resulting in possibilities of disagreements (Dore?,2003). Franchise Setting a business as a franchise offers the benefit of operating it under the banner of an established entity hence enhanced security and support systems, working with a known branch hence less cost involved in brand creation, and establishing good business relationships especially with suppliers and creditors. The disadvantages of franchise include limited control of the business and how it is run because the owners of the brand set out the processes and rules regarding the operations of the franchise, tied to suppliers as one will be required to use the franchise supplier network, increased risk of damaging the reputation of the business if other franchise mess with the brand and reduced profits as one will be required to pay the owners of the franchise for using their brand(Miller,Ragazzo,& Hamilton,2011). Limited liability Company The advantages include limited liabilities to obligations and debts, flexible distribution of profit, and flexibility in management and decision making process. The disadvantages include limited life and hectic processes of legal and formality procedures (Dore?, 2003). Joint venture The advantage of Betty forming a joint venture include sharing of cost, access to relevant expertise, gain from innovative managerial skills and practices, spreading of risks and a large pool of capital. The disadvantages include extensive efforts and time to create the right relationship for partnership, imbalance in the levels of investment, expertise and assets invested by partners, and differences in business objectives that may hinder cooperation and integration (Miller,Ragazzo,& Hamilton,2011). In my opinion, sole- proprietorship is the best option that Betty should consider when establishing her business. Since she has a potential customer base of Christians in her area and a source of capital from her husband, she should set up a sole proprietorship business because it is easy to start, she will be the sole manager of her business and so she can apply her Christian values when running the business without interference from anyone, and since she is a mature Christian, she can eas ily attract her fellow Christians to be her loyal customers and enjoy all the profits alone (Jessup &Chipps, 1991). In case Betty opts for

Should illicit drugs be legalized Essay Example | Topics and Well Written Essays - 750 words

Should illicit drugs be legalized - Essay Example When one first hears that question, the mind immediately jumps to little packets of drugs like heroin and cocaine stacked on supermarket shelves where at most one would have to present id and thereby be in possession of them. However that might not exactly be the scenario the question itself is aiming at. No doubt drugs like heroin and cocaine should not be legalized. That is a matter so obvious that it is likely not to be the matter under debate and discussion anyway. The gray area arises when many of those illicit drugs are illustrated to have great medicinal benefit and seem no more capable of harm that cigarettes or alcohol. To answer the question, one must first explain what illicit drugs mean and how they may be further divided. Illicit drugs are any drugs that are illegal to trade, grow or possess. The word 'drugs', as mentioned, immediately gives rise to a negative stimulus in even the most educated of minds. But drugs do not necessarily have to be negative substances, or sub stances that harm a person. Medicines are also drugs, and many medicines also have the potential of being abusive substances, when administered incorrectly. Why then are they never sought to be made illegal? The answer to that is simple: because their benefits far outweigh any possible side effects that they may have. Certain illicit drugs such as Marijuana have been medically proven to have positive medicinal effects on patients suffering from diseases such as cancer, multiple sclerosis or even AIDS. Granted, it is more popular as a recreational drug than a medicinal one, but perhaps the question should be over how to reduce the recreational appeal and enhance it more medicinally, and the laws against it should be not on the basis of sale or possession, but rather on stricter guidelines for its distribution. To say that all illicit drugs should be legalized is wrong, but to say that none of them should be is equally wrong. Drugs that are capable of being beneficial if correctly use d, such as the aforementioned marijuana should be further studied so that their harmful effects can be minimized and they should then be sold as medicines, but under the supervision of a doctor and only in the possession of a prescription. Antidepressants and relaxants are one of the most popularly used substances for abuse, yet they continue to be sold in pharmacies across the world, in likely every city of the world. Even cough syrup and laxatives have been recorded as abuse substances. Humans are capable of extracting negative benefit from almost any kind of substance or object imaginable. To make the substance illegal is counter-productive, as humans are also capable of find ways around the restrictions imposed upon them. Furthermore, it makes no sense to have substances like cigarettes and alcohol, which are shown to have almost no medicinal or health benefits at all, are freely sold, served and used, but others such as the aforementioned marijuana are not. Indeed, the reason t he latter is used might perhaps be the only reason the former are used: mental relaxation. Adults that consume alcohol or some generally do it to achieve a certain sense of calm or relaxation. When marijuana aims to serve the same purpose, why is the matter considered taboo? Those that argue over its being multiply more harmful do not consider how certain forms of tobacco, such as cigars, might be even more harmful than marijuana, yet they too are freely and legally sold. Perhaps the main fear over legalization of these drugs is that they tend to appeal to the younger generation, who unlike the adults that consume alcohol or smoke, might not be able to control their dependence on