Company Law Lecturer: Ms. Lesley Walcott Date: September 16th, 2003



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Wallock

Company Law
Lecturer: Ms. Lesley Walcott

Date: September 16th, 2003.


BUSINESS ENTERPRISES
























Sole Proprietorship

Partnership


Un-incorporated Associations

Companies






































Limited Partnership

Private Companies
Public Companies











































One Man Company

Listed

Unlisted



















De facto




De jure



Types of Business Enterprises include: -





The Sole Proprietorship


This is the oldest and simplest form of business. There is a single owner who has the prerogative and responsibility of making all the ultimate decisions concerning the business. Servants or agents may assist the Sole Proprietor, if he functions without the aid of others, his obligations are in Contract and his liabilities for wrongdoing are primarily by Tort.

Advantages of the Sole Proprietorship


  1. Businesses commenced and dissolved with ease.

  2. There are modest expenses involved in starting up the business.

  3. Businesses subject to minimum regulation by law.




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