ARE18 homework 9

ARE18 homework 9 - on a business for profit, making each of...

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ARE 18 March 7, 2011 Homework 9 19-2. Jorge, Marta and Jocelyn came up with an idea to make all three of them very rich. He wants to manufacture soft-drink dispensers for home use and market them to consumers throughout the Midwest. Jorge's personal experience qualifies him to be both first-line supervisor and general manager of the new firm. Marta is a born salesperson. Jocelyn has little interest in sales or management but would like to invest a large sum of money that she has inherited from her aunt. The three of them should look and decide if they want to have a partnership which arises from an agreement, expressed or implied, between two or more persons to carry
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Unformatted text preview: on a business for profit, making each of them co-owners of a business with joint control over its operation and the right to share in its profits. They could also have a limited partnership which consists of at least one general partner and one or more limited partners. The general partner assumes responsibility for the management of the partnership and liability for all partnership debts, whereas the limited partner has no right to participate in the general management or operation of the partnership and assumes no liability for a partnership debt beyond the amount of capital that he or she has contributed....
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This note was uploaded on 01/17/2012 for the course ARE 18 taught by Professor Maxey during the Winter '08 term at UC Davis.

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