class notes - nov 29 - organizations

class notes - nov 29 - organizations - Nov 29 organization...

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Nov 29 - organization Sole proprietorship One owner, unlimited liability, no legal requirements, no registration Partnership 1 General Express – oral/written agreement to be ‘partners’ and can register it Implied – scary! Court can deem a partnership to exist if relationship between two or more parties carrying on a business together with a view to profit Together? Looking for contribution of money, property, skill, whatever to joint interest. Contributing to decision making, expectation of a share to profit. Prima facie evidence of a partnership. Lanz v. Lanz Son wants 40% of biz profits v. dad who says son just an employee Gravel trucking biz, son drives truck Dad does all management, financing, taxes, pay bills, etc NO PARTNERSHIP! 2 Limited Partnership 3 Limited Liability Partnership (LLP) S 16 – every person who by spoken or written words who knowingly allows themselves to be represented as a partner, then they are a partner Foothills supplies lab services to Apple Dental Group
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This note was uploaded on 12/10/2011 for the course COMM 393 taught by Professor Elaine during the Spring '10 term at UBC.

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class notes - nov 29 - organizations - Nov 29 organization...

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