REASONS FOR INSURANCE ,RISK ASSESSMENT AND INSURANCE TERMS .

What is insurance?

 Insurance is ,a legal contract that protects people from the financial costs that result from loss of life, loss of health, lawsuits, or property damage. Insurance provides a means for individuals and societies to cope with some of the risks faced in everyday life.

For example, you have insurance for your house in case it burns down. If that happens, you get money from the insurance company to house your family and rebuild (or replace) your home. You can purchase insurance for a wide variety of perils - fire, theft, natural disasters (floods, earthquakes, etc.), property damage, personal injury claims, and so forth.

Contractual agreements

Contractual agreements are one of the principal mechanisms for ordering life in society. Whether a contract is written or oral, or even implicit, it carries with it all of the duties and obligations that society has endowed with the force of law.

This article of lays a comprehensive  foundation in the practical and intricate body of law that governs contracts. What is a contract? How can you make one binding?  How can you avoid being prematurely bound by one? What can you do to get out of a contract? What remedies are available if someone breaches your contract?  

BUSINESS IN A FREE MARKET ECONOMY

The economy of the United States, as well as that of most developed nations, operates according to the principles of the free market. This differs from the economies of Socialist or Communist countries, where governments play a strong role in deciding what goods and services will be produced, how they will be distributed, and how much they will cost (see Socialism; Communism).

Businesses in free-market economies benefit from certain fundamental rights or freedoms. All people in free-market societies have the right to own, use, buy, sell, or give away property, thus permitting them to own and operate their own businesses as private, profit-seeking enterprises.

BUSINESS OPERATIONS

    BUSINESS OPERATIONS

 A variety of operations keep businesses, especially large corporations, running efficiently and effectively. Common business operation divisions include;

1.                   Production.

2.                   Marketing.

3.                   Finance.

4.                   Human resource management.

                    Production

Production includes those activities involved in conceptualizing, designing, and creating products and services. In recent years there have been dramatic changes in the way goods are produced.

Today, computers help monitor, control, and even perform work. Flexible, high-tech machines can do in minutes what it used to take people hours to accomplish. 

FORMS OF BUSINESS OWNERSHIP

There are a number of different forms of business ownership. These include (1) sole proprietorships, (2) partnerships, (3) corporations, (4) joint ventures, and (5) syndicates.

                        Sole Proprietorship

 The most common form of ownership is a sole proprietorship—that is, a business owned by one individual.

Businesses and Computer technology

Business, refers to an organized approach to providing customers with the goods and services they want. The word business also refers to an organization that provides these goods and services. Most businesses seek to make a profit—that is, they aim to achieve revenues that exceed the costs of operating the business. 

Prominent examples of for-profit businesses include Mitsubishi Group, General Motors Corporation, and Royal Dutch/Shell Group. However, some businesses only seek to earn enough to cover their operating costs

HISTORY OF CAPITAL

   HISTORY OF CAPITAL

Although theories of capital are of relatively recent origin, capital itself has existed in civilized communities since antiquity. In the ancient empires of the Middle East and to a larger degree in the Greco-Roman world, a considerable amount of capital, in the form of simple tools and equipment, was employed to produce textiles, pottery, glassware, metal objects, and many other products that were sold in international markets. 

The decline of trade after the fall of the Roman Empire led to less specialization in the division of labor and a reduced use of capital in production. Medieval economies engaged almost wholly in subsistence agriculture and were therefore essentially noncapitalist. 

Specialty Capital and Vendor Financing

                                                  Specialty Capital

This is the gold standard. There are a few sources of capital that have almost no economic cost and can take the limits off of growth. They include things such as a negative cash conversion cycle (vendor financing), insurance float, etc.

                   Negative Cash Conversion (Vendor Financing)

Imagine you own a retail store. To expand your business, you need $1 million in capital to open a new location. Most of this is the result of needing to go out, buy your inventory, and stock your shelves with merchandise. You wait and hope that one day customers come in and pay you. In the meantime, you have capital (either debt or equity capital) tied up in the business in the form of inventory.

CAPITAL IN ENTREPRENEURSHIP

Definition;

In the more precise usage of accounting, capital is defined as the stock of property owned by an individual or corporation at a given time, as distinguished from the income derived from that property during a given period

Capital is collective term for a body of goods and monies from which future income can be derived.

Thus, a business regards its land, buildings, equipment, inventory, and raw materials, as well as stocks, bonds, and bank balances available, as capital.

Generally, consumer goods and monies spent for present needs and personal enjoyment are not included in the definition or economic theory of capita

Business Entrepreneurships

Definition of 'Entrepreneur'

An Entrepreneur is a person who assumes the responsibility and the risk for a business operation with the expectation of making a profit. The entrepreneur generally decides on the product, acquires the facilities, and brings together the labor force, capital, and production materials.

 If the business succeeds, the entrepreneur reaps the reward of profits; if it fails, he or she takes the loss. The entrepreneur is commonly seen as a business leader and innovator of new ideas and business processes.

How to Hire a good Attorney and a good mortgage Broker,A bout Real estate Business

                            How to Hire an Attorney

In some areas Attorneys are not ordinarily involved in real estate closings. In other areas, they absolutely need to be involved. If the cost is reasonable, hire one even if the situation seams simple.

It is advisable not to sign to sign a contract without consulting an attorney. Real property can involve complicated legal concepts, some of which date back to frauds.

 If you feel that  the situation is simple and you can not afford to pay standard rates, most attorney will negotiate their fees.

However if the situation turns complicated a higher fee may a rise, you should not complain but instead you should call your self lucky, because you will have a voided problems not otherwise  foreseen

 But how can you get a good attorney if you don not know any one you can trust?

Loan Services, Lenders, Mortgage Brokers and Complaits and Contracts,A bout Real estate Business,

As a consumer   even after you have done your due diligence in obtaining a home loan, unexpected issues may arise. It is often difficult to determine what course of action to take and whom to, In this article you will find the basic information about loan services, lenders, mortgage brokers, complaints, and contacts.

How to get the best Mortgage,A bout Real estate Business.

                                   HOW TO GET THE BEST MORTGAGE

The first step of all is to know what you are mortgaging. This may sound obvious, but it’s amazing to know how often people seek a mortgage for something they clearly don’t know the value of.

You can probably find a dozen books in your public library on mortgage, but what you really need to understand is how officers at banks   and insurance companies think a bout loans, property and you. Most lenders can often make a lot of money from many ignorant people, so be sure to educate your self before you see them.

Like buying property, applying for a mortgage works best when you have options.

How to pick a mortgage Broker

               How to pick a mortgage Broker

Shopping  around and comparing mortgage can be time consuming, so  it can save you time if you pay some one to do the shopping for you. You can do this by getting a good mortgage broker. These people are engaged daily in the world of mortgages, so they can easily figure out on where to get the best rates who is offering the best condition , and generally, where it’s advantageous to apply.

How to plan your estate

  It is a fact of life that we are all going to die, though money can’t stop that. One thing you will need to do is to plan how your money will live on after you’re long gone.

Wealth carries significant social responsibility .However it is good if your personal wealth is used also to help those in need, to reward good work, encourage better work and higher productivity. In that way we all benefit.

So when planning a real estate you must note the following;

1. Not to burden your children with undeserved wealth that could paralyze them, preventing them from working hard and achieving their own measures of success.

2. To make a legacy for you self that revolves a round charitable giving.