Business, 24.12.2021 02:10 taylorray0820
Sam and Dave are going to open a sporting goods store. They sign a written limited partnership agreement naming Dave as a limited partner and Sam as the general partner. Sam files a certificate of limited partnership with the state. Sam contributes $100,000 toward the start-up, while Dave contributes $200,000. They agree to split profits evenly because Sam will be working in the store and operating the day-to-day business. About a month after they open, the business is not doing well, so Dave starts becoming more involved. Soon he is requiring that Sam approve all purchases with him, and Dave is actively directing Jack, the sole other employee. One day, Geoff, a customer, is injured when a bowling ball falls off a shelf and shatters his foot. Geoff sues and is awarded a judgment of $1 million.
a. As this was a limited partnership, Sonya is liable for $800,000 and Davi is liable for $200,000
b. whoever negligently secured the bowling ball on the shelf is liable for the $1 million liability.
c. Sonya and Davi are each liable for up to $500,000.
d. Under the circumstances, Sonya and Davi are both jointly and severally liable for the full $1 million.
Answers: 2
Business, 21.06.2019 20:30
At a young age, ebony's coaches were confident she had the potential to be a world-class swimmer with a future coaching career. after four years on an athletic scholarship and olympic experience under her belt, she chose a different path. with her savings and personal connections, she rented a corner building in a bustling san francisco neighborhood and pursued her dream: a surf shop business. ebony's dream was rooted in which basic right of free-market capitalism?
Answers: 3
Business, 22.06.2019 00:30
Adds up the money earned by producers plus taxes paid to the goverment. a) income approach b) product approach c) expenditure approach
Answers: 3
Business, 22.06.2019 08:30
What is the equity method balance in the investment in lindman account at the end of 2018?
Answers: 2
Business, 22.06.2019 14:10
When a shortage or a surplus arises in the loanable funds market a. the supply of loanable funds changes to return the economy to its original real interest rate b. the nominal interest rate is pulled to the new equilibrium level c. the demand for loanable funds changes to return the economy to its original real interest rate d. the real interest rate is pulled to the new equilibrium level
Answers: 3
Sam and Dave are going to open a sporting goods store. They sign a written limited partnership agree...
Computers and Technology, 06.08.2019 18:20
Chemistry, 06.08.2019 18:20
Advanced Placement (AP), 06.08.2019 18:20
Computers and Technology, 06.08.2019 18:20
History, 06.08.2019 18:20
Mathematics, 06.08.2019 18:20