BUS/415
Business Entities, Laws, and Regulations Paper
Lou and Jose put one over plans to open a sports bar and grill, but they do not have the with child(p) to start the moving in. Miriam, a wealthy investor, can provide the start-up majuscule to establish the business, but she wants to be included in the partnership. The raw(a) establishment will now consist of the three partners. Lou and Jose ar responsible for the day-to- operations of the sport bar and grill temporary hookup Miriam remains as a silent partner. Â This type of business entity is a Partnership. The general partnership consists of Lou and Jose for operational purposes and Miriam will have a limited partnership. Miriam will have no ascendency of business activities because the main goal of her investment is to earn a profit.
   General partnerships usually allow all partners to have lucifer control. According to The General Partnership, there are three requirements. there essential oral and written agreements for all parties wanting to take in the partnership. The object of the agreement is for all partners to share the profits of the business. The at long last requirement is the business must be carried on by all partners or a single partner in behalf for all partners. Taxation policies require each partner to move over individual taxes.
Lou and Jose have unlimited liability, giving them the responsibility for the day by day activity. Miriam has limited liability because she only invested funds and is covered to the derive of the funds provided. All partners are required to act in a lawful and ethical manner.
   Lou and Jose are required to arrive regulations to form a partnership. Some requirements are to complete a partnership agreement to include names, addresses, capital contributions, profit and difference ratios, and responsibilities.  If alcohol is served at the establishment, both owners must obtain a liquor license with local state government. The permit must on display and visual to all. Both...If you want to get a full essay, order it on our website: Ordercustompaper.com
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