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||
|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.||
|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.||
|Used correct spelling, grammar, punctuation and professional vocabulary.||
|Presented the paper in APA format and properly cited sources using APA.||
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file1.doc preview (634 words)
Running Head: Business xx � xxxx \* MERGEFORMAT �1� Business xx xxx PAGE \* MERGEFORMAT xxxxxxxxx
xxx xxxx xxxxxxxxx that xx brought by xxxxxx a xxxxxxx xxxxxxxxxxx xx in regards xx xxxxxx xx xxxx a xxxxx xxxxxxxx xxxxxx do not xxxx to pay for both xxxxxxxx xxx xxxxxxxx xxxxx (Dunham, 2008). xxxxx Business xxxxxxxxxxxxxx xxxxxx xxxx the partnership xxxxx xxxx xxx have the responsibility of xxxxxx taxes xx all xxxxxx generated by the business entity. There is xxxx xxxxxxx advantage xxxx stems xxxx public xxxxxxxx If a xxxxxxxxxxx xx xxxxxx xxxxx goods traded publicly, xxxxx is xxx xxxxx advantage of gaining investors. In the xxxx of a sequential profit, then the partners, the company and xxx investors xxx xxxx to receive xxxxxxxxxx high xxxxxxx xx xxx sold stock. Investors in such xxxxxxxxxxxx xxxx xxxxx x xxxxxx xx xxxxxxx xxxxxxx cash distribution, this being in accordance xxxx the xxxxxxxx Association of xxxxxxxx xxxxxx Partnerships.
xxxx idea’x xxxxxxxx comes into play xxxx x xxxxxxx xxxxxxx losses, xxxxx each partner is xxxx responsible xxx those losses xxxxxxxxxx (Dunham, 2008). Another xxxxxxx arises xx the case
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file2.doc preview (632 words)
Running Head: LAW xxx xxxx \* xxxxxxxxxxx �1� LAW � xxxx \* xxxxxxxxxxx �2�
One xxxx xxxxxxxxx xxxx xx brought xx xxxxxx a xxxxxxx xxxxxxxxxxx is in xxxxxxx xx xxxxxx xx such x xxxxx xxxxxxxx xxxxxx do xxx xxxx to xxx for both business and xxxxxxxx xxxxx xxxxxxxx 2008). xxxxx Business xxxxxxxxxxxxxx xxxxxx that xxx xxxxxxxxxxx xxxxx xxxx not have the xxxxxxxxxxxxxx of paying taxes on xxx income generated xx the xxxxxxxx xxxxxxx xxxxx xx xxxx another xxxxxxxxx xxxx xxxxx xxxx xxxxxx trading. xx a xxxxxxxxxxx is xxxxxx xxxxx goods traded publicly, xxxxx is the added xxxxxxxxx xx gaining xxxxxxxxxx In xxx case xx x sequential xxxxxxx then the xxxxxxxxx xxx xxxxxxx xxx xxx investors xxx xxxx xx xxxxxxx relatively xxxx xxxxxxx xx xxx sold xxxxxx xxxxxxxxx xx xxxx partnerships also xxxxx a xxxxxx xx xxxxxxx regular xxxx xxxxxxxxxxxxx this xxxxx xx xxxxxxxxxx with xxx National Association of xxxxxxxx Traded xxxxxxxxxxxxx
xxxx idea’s xxxxxxxx xxxxx into xxxx xxxx x xxxxxxx suffers xxxxxxx xxxxx xxxx xxxxxxx xx xxxx xxxxxxxxxxx xxx xxxxx losses personally xxxxxxxx xxxxxx xxxxxxx demerit arises in the xxxx that xxx xxxxx partner xxxxx where the
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file3.doc preview (799 words)
xxxxxxx xxxxx LAW � PAGE \* xxxxxxxxxxx �1� LAW � xxxx \* xxxxxxxxxxx �4�
One xxxx advantage that is xxxxxxx xx having x limited partnership is in regards to xxxxxx In xxxx a case, business xxxxxx xx xxx xxxx to pay for xxxx xxxxxxxx and personal xxxxx (Dunham, xxxxxx Small Business Administration states xxxx the partnership xxxxx xxxx not have xxx xxxxxxxxxxxxxx of xxxxxx xxxxx on all xxxxxx xxxxxxxxx by xxx xxxxxxxx xxxxxxx xxxxx xx xxxx another xxxxxxxxx that stems xxxx public trading. If a xxxxxxxxxxx is having xxxxx xxxxx traded publicly, there is xxx added advantage of xxxxxxx investors. xx xxx case of x sequential profit, then xxx partners, the xxxxxxx and xxx investors xxx xxxx to xxxxxxx relatively high returns xx xxx sold stock. Investors xx xxxx xxxxxxxxxxxx xxxx stand x xxxxxx of xxxxxxx xxxxxxx xxxx xxxxxxxxxxxxx xxxx xxxxx in xxxxxxxxxx with xxx xxxxxxxx xxxxxxxxxxx of Publicly Traded xxxxxxxxxxxxx
The idea’s downside xxxxx xxxx play xxxx a xxxxxxx suffers losses, xxxxx each xxxxxxx is held responsible for those losses personally xxxxxxxx 2008). Another xxxxxxx xxxxxx in xxx case that one vital partner dies, where xxx
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