This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Norma and Janet decide to form a partnership to sell gourmet picnic baskets. To raise sufficient ... (Read 112 times)

Destiiny22

  • Hero Member
  • *****
  • Posts: 557
on: Aug 7, 2021
Norma and Janet decide to form a partnership to sell gourmet picnic baskets. To raise sufficient capital, they convince their mothers to invest $5000 each as limited partners. Norma's mother is an experienced restaurateur and watches the new business with great interest. On several occasions, she advises Norma and Janet on the business and contacts former business associates to buy surplus stock. She even fills in by taking orders in the office when needed. A customer who was made ill by eating contaminated food from a tin can supplied in one picnic basket sues. What would be the liability, if any, of the mothers?
◦ A limited partner has her liability limited to the amount of her initial investment; therefore, neither mother has any further liability.
◦ Both mothers would have unlimited liability because they contributed money but not services as required.
◦ Because one mother lost her limited liability status, they both do.
◦ Norma's mother would have unlimited liability because she took part in the management of the business and thus becomes a general partner.
◦ Janet's mother would be liable for $10 000, twice the amount invested, because she failed to take part in the management of the business.
Legal Fundamentals for Canadian Business ¦ Yates ¦ 4th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by Destiiny22 on Aug 7, 2021

jessofishing

  • Sr. Member
  • ****
  • Posts: 329
Reply #1 on: Aug 7, 2021
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 60% of students answer this correctly


Destiiny22

  • Member
  • Posts: 557
Reply 2 on: Aug 7, 2021
YES! Correct, THANKS for helping me on my review

cpetit11

  • Member
  • Posts: 321
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Medications that are definitely not safe to take when breastfeeding include radioactive drugs, antimetabolites, some cancer (chemotherapy) agents, bromocriptine, ergotamine, methotrexate, and cyclosporine.

Did you know?

Street names for barbiturates include reds, red devils, yellow jackets, blue heavens, Christmas trees, and rainbows. They are commonly referred to as downers.

Did you know?

Malaria mortality rates are falling. Increased malaria prevention and control measures have greatly improved these rates. Since 2000, malaria mortality rates have fallen globally by 60% among all age groups, and by 65% among children under age 5.

Did you know?

The average office desk has 400 times more bacteria on it than a toilet.

Did you know?

Critical care patients are twice as likely to receive the wrong medication. Of these errors, 20% are life-threatening, and 42% require additional life-sustaining treatments.

The Two New Strands Form in Different Ways The Two New Strands Form in Different Ways
Small nuclear RNAs (snRNA), 100-200 bp in length, form part of the splicing mechanisms to process mR Small nuclear RNAs (snRNA), 100-200 bp in length, form part of the splicing mechanisms to process mR
Many fathers and infants form secure attachments. Fathers’ style of interaction differs somewhat ... Many fathers and infants form secure attachments. Fathers’ style of interaction differs somewhat ...
Patient health history form. Patient health history form.
The dissociation equilibrium constants for the protonated form of alanine (a diprotic amino ... The dissociation equilibrium constants for the protonated form of alanine (a diprotic amino ...
Days 18–23 Bumps of mesoderm (somites) form. They will develop into the dermis and most of the ... Days 18–23 Bumps of mesoderm (somites) form. They will develop into the dermis and most of the ...
Video: Oogenesis Animation

For a complete list of videos, visit our video library