Provide a substantive response to at least one of the following questions and provide a substantive response to at least one submission of another student. See the Course Outline for details on what is expected of you in the forums.
1. Agents can bind principals. Given that, what steps could you take to ensure that your company’s employees do not bind the company for things the company does not want to be bound by?
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Write My Essay For Me2. Explain the value of an enduring power of attorney.
3. You and your friend decide to start up a business. Your business will be landscape design and maintenance and will operate year round. The business will initially only involve you and your friend. Perhaps it will expand but that all depends on how well things go. Each of you will contribute $10,000 in start-up capital. Discuss the form of business organization that you believe would be best suited to this endeavour and why.
4. Give an example of how you could unwittingly become part of a partnership and why that could be problematic for you.
Student response E
2. Explain the value of an enduring power of attorney.
The enduring power of attorney is extremely valuable as the regular power of attorney relationship ends when the principal loses mental capacity, and therefore also begins before they lose mental capacity. The enduring power of attorney has differing characteristics that may better suit certain individuals.
Now imagine a situation where the principal wants someone to be the trustee of their finances once they have lost the capacity to do so themselves but would like to do so themselves until this time. They can take the steps to engage in an enduring power of attorney relationship while they still have the capacity to consider. Therefore, if an individual expects to have (for example) Alzheimer’s or dementia set in within the coming years, they can continue managing their finances until it has been determined that they have lost the mental capacity to do so. It is at this moment where the trustee may now step in and manage affairs.
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