katalinaelmasian
Answered

Get reliable answers to your questions at Westonci.ca, where our knowledgeable community is always ready to help. Discover in-depth answers to your questions from a wide network of professionals on our user-friendly Q&A platform. Our platform offers a seamless experience for finding reliable answers from a network of knowledgeable professionals.

HURRY
1) A new caterer is going to do all her own cooking and hire occasional, part-time servers on an hourly basis, without benefits. Why would this caterer choose to incorporate instead of doing business as a sole proprietor?

2) What is an assignable lease? It is a desirable quality for the person or company leasing the space, or no?

3) Why is it important to include a minimum guarantee clause in an off-premise catering contract?

4) What tis an indemnification clause in an off-premise catering contract? Do you think it should be required or optional ?

Sagot :

anthougo

1) The reason that the new caterer would choose to incorporate instead of doing business as a sole proprietor is to enjoy the benefits of incorporation.

What are the benefits of incorporation?

Some of the benefits of incorporating a business entity instead of running a sole proprietorship are:

  • Limited liability
  • Interest transferability
  • Unlimited lifespan
  • Enhance credibility
  • Better access to finance
  • Lower tax rates.

2) An assignable lease gives the tenant or lessee the right to transfer their lease rights to another tenant or sub-lessee without the permission of the lessor.

Making a lease assignable is a desirable quality for the lessee, especially when the initial lessee does not need the property any longer but cannot terminate the lease agreement.

3) Given the nature of the off-premise catering contract, the inclusion of the minimum guarantee clause protects the client in case the number of guests decreases.

4) An indemnification clause is a clause in an off-premise catering contract that guarantees to compensate the other party in case of losses not envisaged when the contract was signed.


This clause should be required by the caterer and the client so that the terms are clearly defined and understood by all the parties involved.

Thus, the reason that the new caterer would choose to incorporate instead of doing business as a sole proprietor is to enjoy the benefits of incorporation.

Learn more about the benefits of incorporation at https://brainly.com/question/21362246

Thanks for stopping by. We strive to provide the best answers for all your questions. See you again soon. We hope you found what you were looking for. Feel free to revisit us for more answers and updated information. Westonci.ca is committed to providing accurate answers. Come back soon for more trustworthy information.