LO1:legal structures Flashcards
1
Q
what are the two types of legal structures?
A
unincorporated and incorporated
2
Q
what is incorporated legal structures?
A
are a separate legal entity. in law there is a difference between the owners and the business. legal action is taken just on the business.
3
Q
what is unincorporated legal structure?
A
are not separate legal entity. in law there is no difference. legal action can bet taken on the owners.
