Business Entities, Laws and Regulations Paper

Business Entities, Laws and Regulations Paper In forming a vexation entity unity should look for the scoop entity for the life of the vocation and the indebtedness exposures that fall down along with certain types of business. Lou and Jose plan to founder a sports occlude and restaurant. These deuce dont have ofttimes coin to open the business but they have Miriam that is a wealthy investor and that go away provide the capital to start business and in paying back receive a dower ownership. I would recommend these partners to ask a Limited obligation Comp whatever it provides the bar and restaurant to be an Limit indebtedness Company is a fragment legal entity (or legal person) unambiguous from its members [ULLCA Section 201] (Cheeseman, 2010, p. 267). Since Lou and Jose will course the day to day executions they put up be managing partners of the operation and Miriam is also partner but non involved in the business operations but is expose to all t he liabilities of the business this seems to be best type of geological formation seems to be the best fit for Lou, Jose and Miriam. The bar and restaurant indebtedness exposures are there. With a bar and restaurant you commode be exposed to err and fall accidents if the floor is wet from spilled drinks or food that was tossed onto the floor, merchandising alcoholic beverage to minors, fights and mounted T.V.s not holding up.

You also have the exposure of selling too much alcohol to one person. You must be familiar the ABCs laws of serving alcohol in State of calcium. According to California Department of Alcohol drinkable Control (2011), No. all person who sells furnishes g ives or causes to be sold, furnished or att! ached away, any alcoholic beverages to any habitual drunkard or to any obviously stir person is guilty of a misdemeanor. (Section 25602) (para. Q. 81), so its critical and crucial for Lou and Jose to know and show the ABCs laws and regulations. Since, this can be a liability exposure to them for serving to much alcohol to a sponsor of their...If you want to get a full essay, order it on our website: OrderEssay.net

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