Week 3 Homework.docx - BU342 Business Law Commercial Week 3...

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BU342 Business Law – Commercial Week 3 Homework Chapter 28 10. Considering this situation and the elements involved in John and Richard’s proposed business plan, I think a corporation would be most advantageous for them to form. This type of business organization would provide them the opportunity to obtain the necessary funds they need by offering shares of stock. The textbook states that control of the corporation can be vested in the individuals with a minority of the investment, but only using nonvoting or preferred stock. Due to the overwhelming number of torts that may be filed, a corporation will provide John and Richard with limited liability. Although corporations may be difficult to start-up, I think it would be the best for their situation, being that it will be a nationwide business, and they will need a large amount of capital. Chapter 29 3. Considering David’s job responsibilities and compensation, I do not find him to be partners with Walter.
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