Legal entities

The Limited Partnership is a business form in which investors known as limited partners agree to share in the profits of a partnership without having a voice in partnership management. · Liability: General partners are seen as legally the same entity as the partnership. They are jointly and severally unlimitedly liable to their creditors. Creditor may go after the assets of partnership unit, and further may go after each individual general partner’s personal assets to satisfy a liability. A…

Selecting the Right Business Entity Choosing the Right Business Entity for Maximum Growth The legal entity that you choose for your business is one of the most crucial decisions you 'll make when it comes to realizing tax advantages that help your business grow. If you 've already established your business, it might be worth reviewing your business structure and finances with a Certified Tax Coach, and it’s always important to consider your options when starting a new company. Even though it…

company’s interests. In looking at Salomon v A Salomon and Co. Ltd [1879] AC 22 case, Max cannot be found liable for the loss Smart Engineering Pty Ltd. incurred because of the unpaid steel cable. This is because Shifty Seller Pty Ltd. is the business entity that takes the liability and not Max. As per chapter 5c, section 601FC, her intentions were honest because she knew Alex to be the best person with knowledge of the Chinese market and experience that would ensure expansion of the business…

A limited liability company is relatively new in terms of business formations. It is a company that is a combination of a partnership and corporation. A corporation is different than a sole proprietorship and partnership. It is a separate legal business entity from the owners, and is also know as an “artificial person”. There are many advantages and disadvantages to all of these, but considering our business will be a healthy fast food restaurant and small shop, the best type of business for us…

people together over delicious cupcakes and engaging in spreading the gospel and love of Jesus by means of cupcakes. The primary goal of this business entity will be to glorify God in all business transactions. This business will be located in the state of Virginia. II. Description and Explanation of Type of Business Entity The type of business entity, which would be best for Neverland Cupcakes to be operated as, would be a limited liability partnership. Firstly, an LLP would be the best option,…

1.1 The purposes of different types of organisations considering their legal structure and types One of the most important decisions that any business would make at its inception will likely be the decision on the type of legal structure to use because the legal structure will determine a lot of things. For example, it will determine the amount of tax to pay, the kind of paperwork that will be needed and even the capacity to raise finances as well as the personal liabilities that you might have…

Business can be Differentiated from the Case Law a. The Company does not have Physical Presence in Hawaii The Company itself does not have a physical presence in Hawaii. The CRNAs, who are independent contractors (some operating as separate business entities), performed all the services related to the contract with the Facility, in Hawaii. As discussed in the facts above, the Company is essentially a temporary contracting organization. Its mission is to connect Facilities in need of services…

In this final discussion, we are asked to evaluate business start-up options for Shania Jackson. Shania is a mature Christian. She has a desire of opening a coffeehouse. Shania seems to have the support of her husband, sister, and neighbor, but in varying degrees of commitment and perspectives. Shania’s husband is willing to invest capital, but not help in the day to day operations. Her sister, a new Christian is eager to participate in the business, but her husband is completely against the…

Question 1 A strategic alliance can be defined when two or more companies wish to engage in a mutual business agreement whereby they still retain their own identity as a company but work towards a common purpose. These two companies engage in similar business practices but do not necessarily have to be based in the same location. The companies involved in the strategic alliance can offer each other their market knowledge, skills, assets such as intellectual property, funding and capital,…

She points out that thousands suffer from kidney disease that has no known cure leaving patients to suffer the only treatment; costly dialysis for years and years, in which they will have to endure, until a kidney transplant becomes available. Cadaverous kidney transplants are usually from the old and the sick and do not last nearly as long as a live kidney donation. Accidents are another major source for a live donation. Most countries have laws forbidding organ sales, which make the odds of…