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Legal Considerations of a Small Business Essay

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Legal Considerations of a Small Business

Zhang, Jianlei
A00330594
Professor: Kevin Downie
November 15, 2011

Legal Considerations of a Small Business
With the progress of human civilization, the law is more and more important for human’s production and living. Nowadays, people’s awareness of the law is stronger than in the past that more and more people start to know how to use the law to protect themselves and their families. The law protects the social stability and personal rights. Therefore, we need comply with it. Especially in commercial areas, there are lots of regulations of the law. If you want to run a business, you will need to concern on various legal considerations. Taking me for example, I want to become a businessman, which is my dream, and now I have $100000 that is my aunt left to me. Having this money I plan to operate a children shoes store to become a real businessman. There are certain considerations of commercial law in my business, which include contract law, tort law, and employment law etc.
Before I operate my business, I would look for a store which is offered for rent and has a good location. After I find the place, I need to talk to the owner to get an ideal price. If the owner does not agree to decrease the price, I will have two choices either finding another place or accepting the price. But during the process of the acceptance, the owner cannot offer other people to rent his store. Even he does not want to rent to me, he need to give me a notice for revocation of the offer. If the owner rents the store to another one without notice to me during this time, I can sue him to seek my compensation. For example, in the case of ROUTLEDGE v GRANT (1828), the defendant offered to claimant to buy his house and gave claimant six weeks to think about it. However, he withdrew his offer before the meantime and without communicating with claimant. While the claimant claimed to accept his offer in several days later. (Retrieved from...

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