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Submitted by johrid on Wed, 2013-07-17 23:27
due on Thu, 2013-07-18 23:26
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Business II-- for ray writer only

Select TWO of the three case studies. Post your document to the W1: Assignment 3 Dropbox by Tuesday, July 16, 2013. It is not necessary to copy the case study into the paper. Label the beginning of each case study with the number you selected (Case Study 1). Cite your sources in APA format on a separate page.

Save your document using the following format: SU_BUS2038_W1_A3_LastName_FirstInitial.doc.

Case Study 1

Lowe, Ball and Lynch were partners in a New York law firm. Lowe, who was in failing health, advised the partners that she wanted to retire and that she had assigned her full interest in the partnership to her son Jessie Stringham. Stringham was a New York bar-licensed attorney with numerous years of professional experience. Ball and Lynch did not permit Stringham to attend management meetings or inspect the books. Stringham believes, as the assignee of his mother’s partnership interest, he was entitled to do both. Is Stringham correct? Explain your answer using legal references such as cases, statutes and other materials.

Case Study 2

Ralphael and Mitch have general commitments from several people to invest in their exotic animal park. Mitch wants to form a limited partnership, but realizes that every limited partnership must have at least one general partner who manages the business and is subject to unlimited liability for the business and its debts. Mitch thinks this is no problem because the general partner can be a “shell” corporation with Mitch and Ralphael at its helm. Ralphael thinks an LLC might be the best approach because the investors are relatives that have opinions on the business, and some are professionals who could offer valuable expertise. Compare the advantages and disadvantages of a limited partnership with an LLC and determine which is the most appropriate form of business for this venture.

Case Study 3

James, Annette, Vanessa and Andrea are undergraduate students studying business administration. James came up with an idea for a new product that he believes will make the four of them very rich. His idea is to manufacture cappuccino machines for the average business organization. The company would also supply a variety of specially blended coffee. James’s personal experience qualifies him to be a general manager of the new firm. Annette is a natural salesperson. Vanessa is an excellent cook and enjoys experimenting with different flavors in coffee. Andrea has little interest in sales or management, but she would like to invest a large sum of money that she inherited from her uncle. The group of students decided to name their business “JAVA.” Thoroughly discuss the factors that James, Annette, Vanessa and Andrea should consider in deciding which form of business organization to adopt.

Assignment 3 Grading Criteria
Maximum Points
Answered one scenario, analyzed the facts and provided well-reasoned answers that reflect an understanding of course material. Supported the response with appropriate cases, laws and other relevant examples.
20
Answered another scenario, analyzed the facts and provided well-reasoned answers that reflect an understanding of course material. Supported the response with appropriate cases, laws and other relevant examples.
20
Used correct spelling, grammar, punctuation and professional vocabulary.
5
Presented the paper in APA format and properly cited sources using APA.
5
Total:
50

 

Answer
Submitted by Rey writer on Thu, 2013-07-18 15:57
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Business II

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Running Head: Business II xxx xxxx xx MERGEFORMAT xxxxxxxxxxxxxxxxx II � xxxx xx MERGEFORMAT �2�

Business xx

Student’s Name

xxxxxxxxxx xxxxxxxxxxxx

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xxx main xxxxxxxxx that xx xxxxxxx by having x limited xxxxxxxxxxx xx in regards to taxes. In xxxx x xxxxx xxxxxxxx xxxxxx do xxx xxxx to xxx xxx xxxx xxxxxxxx xxx personal xxxxx xxxxxxxx xxxxxx xxxxx Business xxxxxxxxxxxxxx states that the xxxxxxxxxxx alone xxxx xxx have xxx xxxxxxxxxxxxxx of paying taxes xx all xxxxxx generated by xxx xxxxxxxx entity. There is xxxx xxxxxxx advantage that stems xxxx xxxxxx xxxxxxxx xx a xxxxxxxxxxx xx having their goods xxxxxx publicly, xxxxx xx xxx added advantage xx xxxxxxx investors. In the case of x sequential xxxxxxx then xxx partners, the xxxxxxx xxx the xxxxxxxxx xxx able to receive xxxxxxxxxx high xxxxxxx xx xxx sold stock. Investors in such xxxxxxxxxxxx xxxx xxxxx a xxxxxx xx xxxxxxx regular xxxx distribution, xxxx xxxxx xx accordance xxxx xxx xxxxxxxx xxxxxxxxxxx of Publicly xxxxxx xxxxxxxxxxxxx

The idea’s downside comes xxxx play xxxx a company suffers xxxxxxx where each partner xx held responsible for those xxxxxx xxxxxxxxxx xxxxxxxx xxxxxx Another xxxxxxx arises in xxx xxxx

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Running xxxxx xxx xxx PAGE \* MERGEFORMAT xxxxxxxxx xxx xxx xxxx \* MERGEFORMAT �2�

LAW

xxxxxxx’x xxxxx

xxxxxxxxxx Affiliation

x

xxxx

xxxx xx

One main advantage xxxx is xxxxxxx by xxxxxx x limited partnership is in regards xx xxxxxx In such a xxxxx business owners do not have to pay xxx both xxxxxxxx and xxxxxxxx xxxxx (Dunham, 2008). Small Business Administration xxxxxx that the xxxxxxxxxxx alone xxxx not xxxx xxx xxxxxxxxxxxxxx of xxxxxx taxes on all income xxxxxxxxx by xxx business entity. xxxxx is also xxxxxxx advantage xxxx xxxxx xxxx public trading. xx a xxxxxxxxxxx xx having their xxxxx traded xxxxxxxxx xxxxx is xxx xxxxx xxxxxxxxx xx gaining xxxxxxxxxx xx xxx xxxx of x xxxxxxxxxx profit, then the partners, the xxxxxxx xxx the investors xxx xxxx xx receive relatively xxxx returns xx the xxxx stock. Investors in such partnerships also stand a xxxxxx of earning xxxxxxx xxxx xxxxxxxxxxxxx xxxx xxxxx xx xxxxxxxxxx xxxx the xxxxxxxx Association xx xxxxxxxx xxxxxx Partnerships.

xxxx idea’x xxxxxxxx xxxxx into xxxx when x company suffers xxxxxxx where each partner is held xxxxxxxxxxx xxx xxxxx xxxxxx xxxxxxxxxx xxxxxxxx 2008). xxxxxxx xxxxxxx xxxxxx xx the case xxxx xxx vital xxxxxxx xxxxx where the

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xxxxxxx xxxxx xxx xxx xxxx xx xxxxxxxxxxx �1� xxx � PAGE \* MERGEFORMAT �4�

LAW

xxxxxxx’x Name

University Affiliation

x

Law

xxxx 1

xxx main xxxxxxxxx xxxx is xxxxxxx xx xxxxxx a limited partnership is xx regards to taxes. In such x xxxxx business xxxxxx do not have xx pay for xxxx business xxx xxxxxxxx xxxxx (Dunham, xxxxxx xxxxx xxxxxxxx Administration states that xxx xxxxxxxxxxx alone does xxx xxxx xxx responsibility of xxxxxx xxxxx xx xxx xxxxxx xxxxxxxxx by xxx business entity. xxxxx is xxxx another xxxxxxxxx xxxx xxxxx from xxxxxx trading. xx x xxxxxxxxxxx is having their goods xxxxxx publicly, there xx the added advantage xx gaining investors. xx xxx case of a xxxxxxxxxx xxxxxxx xxxx the xxxxxxxxx xxx xxxxxxx xxx xxx investors xxx xxxx xx xxxxxxx relatively xxxx xxxxxxx on xxx xxxx stock. Investors xx such partnerships xxxx xxxxx x chance of earning xxxxxxx cash xxxxxxxxxxxxx this xxxxx xx xxxxxxxxxx xxxx xxx National Association of xxxxxxxx Traded xxxxxxxxxxxxx

The xxxx’x downside comes into play when x company suffers xxxxxxx where xxxx xxxxxxx is held xxxxxxxxxxx for those xxxxxx xxxxxxxxxx (Dunham, 2008). xxxxxxx demerit xxxxxx xx xxx xxxx xxxx xxx xxxxx xxxxxxx dies, xxxxx xxx

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