This topic contains a solution. Click here to go to the answer

Author Question: Turnoffs of services must be authorized in the bylaws to be a means of enforcement of assessments. ... (Read 63 times)

gbarreiro

  • Hero Member
  • *****
  • Posts: 566
Turnoffs of services must be authorized in the bylaws to be a means of enforcement of assessments.
  Indicate whether the statement is true or false

Question 2

Alice, Betty, and Cathy are interested in forming a business venture. Alice is quite wealthy and is ready to contribute money to the venture. Betty has a degree in business from an excellent university, worked for five years as a manager in a major corporation, and currently is a leadership/management consultant. Cathy is a scientist who has developed a process that will, according to her, revolutionize cancer treatment throughout the world. Alice, Betty, and Cathy believe it is in their best interest to form a general partnership. Do you agree? Is there a more appropriate form of business you might recommend?



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

missalyssa26

  • Sr. Member
  • ****
  • Posts: 327
Answer to Question 1

TRUE

Answer to Question 2

The general partnership form is not appropriate because each owner would be liable for all debts of the organization. In light of her wealth, Alice might be particularly troubled with the liability exposure of a general partnership.
The limited partnership form is arguably a preferable choice in this situation. Should the parties choose a limited partnership, Betty (with her business acumen) might be best positioned to serve as the general partner, and Alice and Cathy could be limited partners. Under the Revised Uniform Limited Partnership Act, it is possible that both Alice and Cathy could contribute to the effective management of the firm (by consulting with and advising Betty, the general partner, regarding the partnership business) without losing their limited liability status.




gbarreiro

  • Member
  • Posts: 566
Reply 2 on: Jun 24, 2018
:D TYSM


scottmt

  • Member
  • Posts: 322
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

Did you know?

Drying your hands with a paper towel will reduce the bacterial count on your hands by 45–60%.

Did you know?

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

Did you know?

Oliver Wendell Holmes is credited with introducing the words "anesthesia" and "anesthetic" into the English language in 1846.

Did you know?

If you use artificial sweeteners, such as cyclamates, your eyes may be more sensitive to light. Other factors that will make your eyes more sensitive to light include use of antibiotics, oral contraceptives, hypertension medications, diuretics, and antidiabetic medications.

Did you know?

Approximately 70% of expectant mothers report experiencing some symptoms of morning sickness during the first trimester of pregnancy.

For a complete list of videos, visit our video library