Entrepreneurs: ACME Fireworks

Acme Fireworks
Student’s Name
Institution Affiliation
Acme Fireworks
Entrepreneurs are the heart of every industry, and their spirit of growth pushes the business to other levels. Depending on the industry and the strategy used, small and medium enterprises that started as sole proprietorship grow and employ more employees than when it began. Growth comes with risks and responsibilities, such as legal issues and human resource challenges. With such risks, the management of the company should be ready to embrace the flexibility that comes with growth to survive in the industry and minimize legal battles. In the country, many businesses shut down every year because managers did not understand the risks associated with growing businesses (Martin, 2016). Because growing companies come along with high-level risks poisonous to the company, business managers should fully understand laws governing the market and be flexible enough to change the business structure to suit the rules.  
Being a small company that started at a garage two years ago, Acme Fireworks is on the verge of expanding. Acme's expansion over 15 years is visible by growth in the number of employees. Growth and development require an understanding of the law and contracts, which will enable the company to minimize the risks involved while companies are expanding. Because many businesses do not understand the risks involved during business expansions, Acme Fireworks should carefully go through the law and contractual process so that it can maximize the opportunities that come with growth.
 As the manager of the company, I would advise that universal laws should govern the contracts of the company. Principles of prevailing laws and uniform commercial codes are applied and understood across the United States (Hawkins, 2019). Prevailing laws primarily deal with assets that are intangible, real estate among other industries while Uniform Commercial Code (UCC) deals with actual transactions such as car purchases, sales of securities, among other services. I came up with the conclusion that the company should be managed by common law because of the kinds of services that Acme fireworks were going to offer. When determining the nature of legislation to apply to a business, there are few considerations that the management of the organization should consider.
The kind of goods or services offered by the company determines whether universal laws or UCC will govern the company's business structure. There are different terms used in contracts of prevailing laws that are related to the kind of service the company provides, among them, price, and nature of work.UCC also has terminologies used in its enforceable contracts, but the primary focus is quantity. The agreement between Acme Fireworks and other companies contained the nature of work and prices per display of fireworks. It is with these attributes that led to the conclusion of using prevailing laws since they are most suitable for the legality and not UCC. Also, common law covers service industries in the county, such as the service of providing firework displays to other companies. Fireworks can be considered as goods that fall under UCC, but Acme Fireworks is focused on providing the display of fireworks, which is a service industry. 
Since the company is seeking to obtain contractual services from the large companies and its employees, then common law will apply (Schwartz & Scott, 2016). In the country, the common law governs contracts for services. 
A contract can either be verbal or written and involves two or more competent parties ready to enter into a legal binding agreement. Most deals are written and can be used in court to compel both parties to follow through the settlement. The business owner formed a bilateral contract with the businesses. Bilateral agreements are established when both parties promise to do something for each other; that is, Acme Fireworks are ready to provide fireworks display on for the companies daily, and the company will pay for the services provided. Since the services offered can be breached, legal systems are available to mediate the written detailed contracts. An enforceable contract should be written between Acme fireworks and other companies since the contract carries law forces. The deal is a legal document that contains agreement which is not restricted by any law. For effective enforcement of this pact, the following elements are crucial: 
Offer
An offer always appears at the beginning of the contract. It is a proposal for one party to get into agreement with another party on specific terms creating a power of acceptance at the receiving party (Hawkins, 2019). One part must propose an offer to the other, including specific conditions, for example, Acme Fireworks should submit a proposal of providing Fireworks display to other companies. The terms should be prices per show of the fireworks, and the exact time required for full provision of the service, and delivery date. Afterward, the offer is communicated to the intended party through the best means available. The recipient has the power to reject, right to amend or accept the offer. If the companies change the contract, Acme Fireworks, in this case, cancels the first offer and uses the counteroffer as the new offer. The offer is considered obsolete if its acceptance does not happen within the dates set out in the offer (Goldberg, 2018). 
Acceptance
When the offeree (the party who receives the offer) agrees to make a contract on the terms offered by the offeror (the party who makes an offer, Acme Fireworks), they are both in acceptance. Communication is kept in the same way the proposal was delivered. Delivery methods used could be over the phone, mail, in person, or other available means agreed upon by both parties. Acceptance is communicated to the offeror with an explicit declaration that the company is ready to bind by the contract terms.
Considerations
As the third constituent of an enforceable contract, considerations contain the benefits that each party receives from the agreement. The reviews may be present, future, or past. Acme fireworks, toge...