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Running Head:  BUSINESS LAW AND PERSONAL LIABILITY EXPOSURE

           PAGE 1 

BUSINESS LAW AND PERSONAL LIABILITY EXPOSURE

Nicole Wilson

BUS: 670 LEGAL ENVIRONMENT

ASHFORD UNIVERSITY

Running Head:  BUSINESS LAW AND PERSONAL LIABILITY EXPOSURE

           PAGE 1 

People often equate knowledge with power. In fact, the most successful business leaders are generally armed with higher levels of knowledge and expertise and are most suited to lead a business or company to impressive outcomes. Clarkson and Miller (2012) explain that it is imperative that organizational leaders have a semblance of knowledge in the law as it relates to business in order to function in the world today. Anyone that embarks on a professional career, regardless of the industry, will benefit from being familiar with contracts, real property law, landlord-tenant relationships, and other significant legal matters (Clarkson & Miller, 2012). The findings in this research explore how business law affects personal liability exposure when business leaders are faced with litigation. In this paper and for the benefit of understanding, fictitious companies will be reviewed the form of a case study. Each company has been sued breach of contract litigation and explores the implications for various business entities established under the name of the company Tinker & Tailor Home Security Services. The findings in this research will determine that business owners who are equipped with the underpinnings of business law are more likely to usher their respective companies to success and generally avoid or reduce the likelihood to be threatened with litigation that may have devastating consequences. Individuals that have a thorough understanding of the law as it pertains to business make more efficient leaders. The different business entities of Tinker’s Home Security Services are being sued for a breach of contract. Table 1 illustrates an overview of where the responsibilities lie in...

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