Questions from Business Law

Q: Leland McElmurry was one of three partners of MHS Enterprises, a

Leland McElmurry was one of three partners of MHS Enterprises, a Michigan partnership. Commonwealth Capital Investment Corp. sued the partnership and obtained a judgment of $1,137,285 against it, but...

Q: Thomas Smith and Jackie Lea were partners in the logging business.

Thomas Smith and Jackie Lea were partners in the logging business. In January 1981, they joined Gordon Redd and went into business running a sawmill, calling the business Industrial Hardwood Products...

Q: What is the principal advantage of an LLP over an LLC?

What is the principal advantage of an LLP over an LLC?

Q: Thomas Banner assigned his voting rights and his right to receive distributions

Thomas Banner assigned his voting rights and his right to receive distributions in the Hut at Avon, LLC, to Elizabeth Condo as part of a divorce settlement. When the other members of the Hut Group, Th...

Q: Alan Waung, a Hong Kong businessperson, purchased a golf course

Alan Waung, a Hong Kong businessperson, purchased a golf course in Saginaw, Michigan, as an investment. As an avid golfer, Alan anticipates spending several weeks during the year at his “ Northern Pin...

Q: Kate Haley, an experienced builder, formed a limited partnership in

Kate Haley, an experienced builder, formed a limited partnership in August 2011, along with two limited partners, Drs. Growbioski and Gailen, who each provided $100,000 to the partnership for initial...

Q: Gilroy, Sims & Associates, Ltd., was a limited partnership

Gilroy, Sims & Associates, Ltd., was a limited partnership engaged in real estate development. The original general partners were Richard Gilroy and William Sims. Thomas Green and John Murphy, Jr., we...

Q: Sabastian Hafner joined a start-up business with a business plan

Sabastian Hafner joined a start-up business with a business plan focused on making breads without common food allergens, such as wheat, yeast, dairy, and gluten, to be marketed in a major metropolitan...

Q: Ackerley Media Group, Inc., claimed to have a three-

Ackerley Media Group, Inc., claimed to have a three- season advertising Team Sponsorship Agreement (TSA) with Sharp Electronics Corporation to pro- mote Sharp products at all Seattle Supersonics NBA b...

Q: When claims filed with an insurance company were approved for payment,

When claims filed with an insurance company were approved for payment, they were given to the claims clerk, who would prepare checks to pay those claims and then give the checks to the treasurer to si...