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pls help :( You run a shoe business out of your own home as a sole proprietor and enter into several contracts in your own
pls help :(
You run a shoe business out of your own home as a sole proprietor and enter into several contracts in your own name. A year later, your business is making enough money that you choose to form as a corporation to save money on taxes and receive greater liability protections. As part of this formation process, you desire to transfer all of the rights and obligations under your contracts to your newly created corporation. Can you do so? Yes, but only if you do not take on other shareholders who can control part of the company Yes, through a novation and assignment No, since the contracts were signed in your name as an individual No, unless the party who you signed the agreement with consents to this transfer Aaron is a junior salesperson for BMW, and sells cars on the company's lot in Goleta. Recently. Aaron offered a new car to a customer for $65,000 when the price of the car was supposed to be $95,000. Aaron and the customer agree on the $65,000 price and sign the deal. However, Aaron did not realize that he had typed in the wrong price when he gave the customer a quote, and BMW wants to get out of the deal. Can BMW terminate the deal? Yes, because the mistake was mathematical and not made in bad faith No, because Aaron is an agent of BMW No, because even though Aaron made a mistake with the quote, BMW must incur the loss Yes, because BMW never gave Aaron express authority to make deals on its behalf Step by Step Solution
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