Uniform Partnership Act

Every state has workers compensation laws designed to compensate employees for work related injuries. In some states it may be called workman's compensation or workmen's compensation, but it is the same thing. While specific workers comp laws and systems vary from state to state, there are general principles applicable to all states. Here are 5 facts the everybody ought to know. 1. Not every employer is required to have workers compensation. Every state has set a minimum number of employees…

There is something to be said about with whom a person goes into business. In the 1980’s, my brother and two friends formed a partnership doing surveying in Colorado. Shortly after getting established, the two friends ousted my brother and took all of the money. There was an IRS audit in which a gain was determined, and my brother was included in the assessment. He quietly paid it, then one day, he received all of his money back; his “friends” paid the assessment not knowing it was paid. We…

Although the terms are rarely accurately defined and have become problematic to analyse, in most understandings, successful partnerships rely upon good systems of inter-professional collaboration. Some of the advantages of partnership working are; communicating effectively, respecting all partners involved equally, adhering to ground rules and sharing information in order to solve any issues, but staying within codes of conduct based on one’s profession. Every partner will be governed by their…

activities the appropriate business structure would be a General Partnership. S.5 Partnership Act 1958 (Vic) defines a partnership as a relationship between two or more people,…

Finish Line Incorporated is an American-based athletic footwear and fashion retail chain. The company also sells accessories ranging from socks, laces, and hats to shoe cleaner, insoles, and sports gear. Being my favorite sneaker store, Finish Line Incorporated retail stores are found across America located in 47 states operating over 660 stores. Now being a corporation, Finish Line’s roots began in 1976 among three friends who wanted to create a store that held the newest athletic footwear.…

Del. Open MRI Radiology Assocs., P.A. v. Kessler, 898 A.2d 290 -- Close Corporation This cases involves 8 total shareholders/radiologists who equally owned a practice, Fox Chase. These 8 radiologists formed a corporation, Delaware Radiology, to capture additional revenues by owning MRI centers. A squeeze-out merger at Delaware Radiology occurred after the radiologists ' underlying radiology practice, Fox Chase, split up. Delaware Radiology was divided as such: the majority (Broder Group) was…

sole proprietorship because the owners can have total control over their businesses in every way they need it. A sole proprietorship is very hard to get funding for and that can halt anyone’s chances of actually starting a business. o General Partnership: o Liability– Business partners are liable for any and all debt and or liability created. Their own assets can be a tool to please and business debts and bills whether they know of any wrongdoing or…

Hey y'all, I have been blessed with the opportunity to serve on UGA Miracle’s High School Outreach Committee. On this committee, I will serve as a mentor to students around Athens-Clarke County, while empowering them to become involved in Children’s Miracle Network. UGA Miracle is a an incredible student-run philanthropy at the University of Georgia that benefits Children’s Healthcare of Atlanta, specifically the Comprehensive Inpatient Rehabilitation Unit and the Aflac Cancer and Blood…

Great post. I believe your points are well founded and valid. However, I am not sure I would rather gain 10 pounds to give up coffee. I agree with your assertion that the best option for Shania is to form an LLC. In addition to the characteristics of protected liability and tax benefits you discussed, this business structure has becoming so widespread in the domestic market that almost two LLCs were formed for every one corporation (Chrisman, 2010, para. 19). I firmly believe that the LLC…

profits passed to the general partners. A1c: 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…