Compose a 750 words essay on BUSINESS LAW undefined : General Partnership. Needs to be plagiarism free!Download file "BUSINESS LAW undefined Coursework: General Partnership" to see previous pages... S

Compose a 750 words essay on BUSINESS LAW undefined : General Partnership. Needs to be plagiarism free!

Download file "BUSINESS LAW undefined Coursework: General Partnership" to see previous pages...

Signal Cos.).

Factors considered whether an officer or director is protected by this rule is if the officer or director expedited his duties in good faith, with care of a prudent person, and in a matter which he reasonably believed to be in the best interest of the business.

According to the Internal Revenue Service,

the factors to determine whether an individual is a contractor or employee should provide "evidence of the degree of control and independence" (Internal Revenue Service) of that individual from the employer in question and these are as follows:

The most important here is the control on the termination of the individual's service with the employer. With the other two, without the power to fire the individual, that individual can't be controlled as effectively by the employer.

5- Ms. F. Fresco is the president and chair of the board of directors of Filex Corporation (Filex) whose shares have been trading recently at approximately $105 per share. In addition to her business capacities, Fresco, who is nearing retirement age, also owns 100,000 shares of the corporation. In an effort to increase her personal net worth, Fresco contacts J. Beethoven, a powerful financial investor and entrepreneur. Beethoven offers to purchase all outstanding shares of Filex for $135 per share. Without the advice of financial counsel or any independent analysis of the value of Filex, Fresco encourages the other members of the board of directors to pass a resolution in favor the purchase. Based solely on the recommendations of Fresco, the other board members (there are seven members total) passed the resolution recommending that the shareholders accept Beethoven's offer. At a subsequent shareholders' meeting the offer is accepted by approximately 85% of the shareholders. Certain shareholders who voted against the offer and own 150,000 shares of common stock thereafter sued the members of the board of directors for damages.