Questions are about Law for business (MBA COURSES)1.You have been given the responsibility to implement processes and procedures to reduce the risk to your company based on contract liability. Discuss systems, processes and procedures you can implement to reduce your company’s liability for contracts.Typically 350~400 words. Answer questions as 1…. 2 …. 3…..2.You have a new customer, Arisco, LLC, that is a start up business.The start-up has three principal investors, ACME, Inc., John Smith, and Janice Perkins. John and Janice are the principal employees of the company that have just graduated from Anna Maria College. Acme, Inc. is a billion dollar multinational business.Arisco, LLC sends you an order for two million dollar pieces of equipment. Each piece of equipment has eight hundred thousand dollars in parts that you would need to acquire before filing the order. Discuss steps you can take to reduce your risk of non-payment and default by Arisco.Typically 350~400 words.3.You have a growing interest in thoroughbred horseracing. Through an online internet forum, you meet three other people who share your interest. Two are located in the United States and a third is located in Great Britain. Together, you decide to buy a horse. Discuss the different advantages and disadvantages for each type of potential business entity you could create to buy the horse.Typically 350~400 words4.You and your friends from Discussion Five decide to form an LLC to buy the horse. What can you do to ensure effective management of the company? What can you do to ensure that you have enough money for expenses?Typically 300~350 words

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