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P‌‍‍‍‌‍‍‌‌‍‍‍‌‍‍‍‍‌‍‍eter and Andrew are brothers. Since childhood, they have wa

by | Sep 19, 2021 | Law | 0 comments

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P‌‍‍‍‌‍‍‌‌‍‍‍‌‍‍‍‍‌‍‍eter and Andrew are brothers. Since childhood, they have wanted to convert a barn on their grandfather’s farm into a hunting and fishing lodge that would provide modest but comfortable accommodations for sportspersons using nearby recreational lands. Andrew has suggested that they bring his friend, Paul, into the business, as well. While Peter and Andrew would develop the property, Paul has experience in the hospitality industry and could manage the day-to-day operations. Peter and Andrew would also want to make the lodge available to local church groups for worship retreats. They haven’t yet discussed this with Paul, because they know he is not comfortable with most churches and their positions on social issues. The men are now discussing how to form the new business, and have narrowed their choices to a general partnership or a limited liability company (LLC). What would you advise, and why? Consider and discuss issues such as: • What personal liability will the owners have for the obligations of the business (contracts, debts, lawsuit judgments, etc.) • Should Paul be included as a co-owner, or in some other role? On what do you base that decision? • How would contributions to the new business of skills, experience, labor, etc. be valued when determining percentages of ownership? • How would profits a‌‍‍‍‌‍‍‌‌‍‍‍‌‍‍‍‍‌‍‍nd losses be distributed? Refer to the Assignment Instructions folder of the course for general directions and grading rubrics for Discussion Boards, including requirements for word length, scholarly sources, and integration of a Biblical worldview. Identify your conclusion in the subject line of your post (General Partnership, LLC, etc.). a minimum 300-word thread in response to the presented case study At least 2 sources, cited in-text and in a reference list, in current APA format, must be used, and can include the Bible. Then, compose a post that addresses those questions and incorporates your research as well as Biblical integration. (Note that the reference list does not count toward the word count requirements.) The purpose of this research criterion is to encourage you to contribute academic content to the course; failure to do so will result in a substantial deduction from your grade. First-person voice is allowed, but your writing must otherwise be as professional as possible. It must be free of spelling, punctuation, usage, citation, and grammar errors. Textbook Grudem, W. (2003). Business for the Glory of God: The Bible’s Teaching on the Moral Goodness of Business. Wheaton, IL: Crossway Books. Melvin, . & Guerra-Pujol, . (2021). Legal Environment of Business (4th ed.). New York: McGraw-‌‍‍‍‌‍‍‌‌‍‍‍‌‍‍‍‍‌‍‍Hill Education.

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