State the main contents of Partnership Deeds.
Q: Pursuant to Ind. Code § 23-1-21-2(b)(2)(A), the incorporators can, if they decide to do so, specify…
A: Note: The solution is provided in a generalized way.Articles of incorporation are a significant…
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Q: Revised Uniform Partnership Act
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Q: explain the circumstances under which each of the following type of ownership would be most…
A: Joint tenancy is a type of ownership that allows multiple individuals to own a property together.…
Q: Examine the basic elements in wills, estates, and trusts.
A: The term estate planning refers to a process that is used to decide how the assets of a person will…
Q: describing the obligations of corporate directors to a business corporation. include a discussion of…
A: Corporate directors oversee the affairs of the corporation in order to protect the interest of the…
Q: In Salomon v Salomon it was held that following a proper incorporation, the company becomes a legal…
A: Please find the answer below.Separate legal personality :- A key concept in company law known as…
Q: Compare and contrast a general partnership to a sole proprietorship.
A: The objective of this question is to understand the differences and similarities between a general…
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- Chapter 11 bankruptcy provides for: a. adjustment of debts of a municipality b. reorganization of a corporation c. liquidation proceedings d. adjustment of farmers' debtsdescribe the advantages of an LLC versus operating as a sole proprietorship, general partnership, limited partnership, C Corporation, and S Corporation.Was it good for Jacoby, Meyers, and Koff to set up a general partnership for their Jacoby & Meyers law firm?
- Little Switzerland Brewing Company was incorporated on January 28. On February 18, Ellison and Oxley were made directors of the company after they purchased some stock. Then on September 25, Ellison and Oxley signed stock subscription agreements to purchase five thousand shares each. Under the agreement, they both issued a note that indicated that they would pay for the stock “at their discretion.” Two years later in March, the board of directors passed a resolution canceling the stock subscription agreements of Ellison and Oxley. The creditors of Little Switzerland brought suit against Ellison and Oxley to recover the money owed under the subscription agreements. Are Ellison and Oxley liable? Why or why not?On January 1, Oriole Corporation had 97,500 shares of no-par common stock issued and outstanding. The stock has a stated value of $6 per share. During the year, the following occurred. Apr. 1 Issued 29,500 additional shares of common stock for $19 per share. June 15 Declared a cash dividend of $3 per share to stockholders of record on June 30. July 10 Paid the $3 cash dividend. Dec. 1 Issued 1,000 additional shares of common stock for $18 per share. 15 Declared a cash dividend on outstanding shares of $4.90 per share to stockholders of record on December 31. (a) Prepare the entries to record these transactions. (If no entry is required, select "No entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.)1. explain sole proprietorship type of business and it's advantages
- Conclude by stating the benefits and drawbacks of using Artical of association and its usefulness(if any) to govern the operations of a company.State the mutual rights of partners of a Limited Liability Partnership Firm in the absence of any agreement between the partners.Michael Ross formed a limited partnership with his father-in-law, Robert Zane, to open a seafood restaurant in a mid-western town. Mr. Ross was the general partner and Mr. Zane was a limited partner and invested $100,000. After one year, difficulties in the restaurant’s operation caused business to drop off, and Mr. Ross called Mr. Zane for advice. After hearing of the difficulties and concerned with the security of his investment, Mr. Zane traveled to visit the operation. After observing the operation for two days, the two partners jointly decided to launch a large and expensive television ad campaign to increase lagging sales. Mr. Zane designed the campaign with the help of Brandon Advertising and Video, a local advertising agency specializing in television commercials. Despite an immediate increase in sales, volume continued to decline, and finally, three months after the ad campaign launched, the restaurant closed its doors. Total debts at the time the restaurant closed equaled…