business law

Questions & Answers

Question 38161

Verified

Business Law

18. Marty and Wendy Byrde establish a limited liability company which will own their casino. Marty and Wendy are____________

9. The state of Missouri, where the casino will be located,requires Marty and Wendy to file_______-

). Marty does not want his bankers to know where he lives,so Wendy agrees to be the ________and accept any legal complaints the LLc recieves

21. After talking to her friend Shemp, Wendy believes they need an _________,but marty thinks moe is right and the _______ will settle their differences by making them share management and profits equally

22. Wendy doesn't trust Marty and wants the LLC to be_______instead of________with her friend Darlene acting as manager.

3. Marty doesn't trust Darlene. He's afraid she’ll destroy the business in which case he'll lose all of his

1. Wendy sees Marty take some of the casino profits and hide them in a personal bank account. She sees him take more of the casino's money to buy himself a Maserati.Wendy worries that the court will_____________make them personally liable for the business debt.

Question 38160

Verified

Business Law

8. Larry, Moe, and Curly start a partnership they call Three Stooges. Each invests $35,000. Their investment is called

9. Shemp sues the Three Stooges, claiming that he is a partner too because he manages the business and gets profit as part of his compensation. The Three Stooges correctly claim he is not a partner because he does not share the businesses

10. The owners of the Three Stooges are happy because the business makes a lot of money. Each month they take home their

11. Because the partners, and not the business, pays taxes on the money they earn, the partnership is considered a _______-tax entity.

12. Partners have______and _____authority to conduct business to further the partnership business.and

15. Shemp, believing he has been treated unfairly, sues The Three Stooges and Larry, Moe, and Curly. Shemp knows that all four defendants are liable and that he when he wins his lawsuit, he can collect from any one of the defendants.This is known as

13. When Larry, Moe, and Curly start arguing about how to run the business, Shemp suggests they create a

14. Moe believes that all of their problems can be solved by following the_______ management rights.which gives them equal

16. Angry about losing the lawsuit, Larry decides to leave the partnership and wants Moe and Curly to_______his share of the business.

17. Moe and Curly decide to call it quits and terminate the business. First they must _______ all their business,then______their assests and finally pay their____

Question 38159

Verified

Business Law

13. Erin sues John-Boy on behalf of the corporation in a____lawsuit, alleging he acted

Question 38158

Verified

Business Law

12. John-Boy defends himself by claiming he made a rational,informed decision and is therefore protected by the

Question 38157

Verified

Business Law

11. John-Boy incorporates the publishing house using Walmart money and its employees to help with the legwork. When Erin finds out, she accuses him of violating his________

Question 38156

Verified

Business Law

As President, John-Boy is an_______-with ________and________ to enter into contacts

Question 38155

Verified

Business Law

at their ______the board appoints john boy president they also decide not to declare a dividend because there are not enough

Question 38154

Verified

Business Law

8. Because there was a___at the____the shareholders formally voted that Johnny Cochran would sit on the Board of Directors with John-Boy, John Sr. and Olivia.

Question 38153

Verified

Business Law

7. John-Boy decides to expand the business and purchase a publishing company. Johnny Cochran recommends he issues______ that the number of shareholders are limited, but John-Boy doesn’t want to incur more

Question 38152

Verified

Business Law

6. Unfortunately, because Walkmart, Inc. is a,_______- profits will be taxed twice: once to the corporation and then again when distributed to shareholders.

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