Assume the post you are responding to was the legal advice given to Liz and Jules and they have come to you seeking a second opinion. Do you agree or disagree with the legal advice they were given? Why or why not? Provide one more additional business form would you advise Liz and Jules to consider and why?
Your post/replies can only be based on the textbook, lectures and slides and other responses. Internet resources and other resources outside the course material are prohibited, as is collaboration. The posts/replies must be original work. Do not quote or cut and paste from any source, including the textbook. Show your own understanding.
As counsel for both Liz and Jules, my recommendation would be to either form a Limited Liability Partnership or a Limited Partnership. Based on the information given to me by Liz regarding Jules’ mismanagement of her previous clients’ finances, I had suggested that a limited partnership might be an option. With this business form, either Liz or Jules could be the general or limited partner. The general partner would assume full responsibility for the management of the firm and its debts. The limited partner would be able to contribute funds and would own an interest in the firm, but is not involved in any managerial responsibilities and is only liable for their personal investment. With that being said, it was worth mentioning that a limited partner can give up limited liability and take part in the firm’s management. I had made this an option with Liz in mind as the limited partner and Jules as the general partner. I know Liz was concerned and thought it would be a good idea to suggest she’d be only liable for her initial investment, in case any further mismanagement from Jules was to occur. The benefit of discarding the limited partner title was also a good idea in case Jules had proved that her previous mismanagement was a one-time incident.
After consulting with my clients regarding the first option, I presented my ideal option in regards to their predicament. A limited liability partnership seems like the best method because it helps partners avoid personal liability for the malpractice of other partners. Partners are still, of course, liable for their own wrongful acts and a partner would still be liable if they supervise the party that commits a wrongful act. One of the many benefits of this business formation is the ability to continue as a pass-through entity. This would mean that Liz and Jules would avoid income tax at the corporate level, avoid double taxation, corporate income is allocated among the owners, and income taxes are only levied at the individual owner’s level. The formation of an LLP is rather simple. Because the firm’s basic structure remains the same, converting from a traditional partnership into an LLP is relatively easy. Additionally, all laws and statutes governing partnerships remain the same.
Why Choose Us
At Myhomeworkwriters.com, we always aim at 100% customer satisfaction. As such, we never compromise o the quality of our homework services. Our homework helpers ensure that they craft each paper carefully to match the requirements of the instruction form.
Professional Academic Writers
With Myhomeworkwriters.com, every student is guaranteed high-quality, professionally written papers. We ensure that we hire individuals with high academic qualifications who can maintain our quality policy. These writers undergo further training to sharpen their writing skills, making them more competent in writing academic papers.
Our company maintains a fair pricing system for all academic writing services to ensure affordability. Our pricing system generates quotations based on the properties of individual papers.
My Homework Writers guarantees all students of swift delivery of papers. We understand that time is an essential factor in the academic world. Therefore, we ensure that we deliver the paper on or before the agreed date to give students ample time for reviewing.
Myhomeworkwriters.com maintains a zero-plagiarism policy in all papers. As such, My Homework Writers professional academic writers ensure that they use the students’ instructions to deliver plagiarism-free papers. We are very keen on avoiding any chance of similarities with previous papers.
Customer Support 24/7
Our customer support works around the clock to provide students with assistance or guidance at any time of the day. Students can always communicate with us through our live chat system or our email and receive instant responses. Feel free to contact us via the Chat window or support email: firstname.lastname@example.org.
Try it now!
How it works?
Follow these simple steps to get your paper done
Place your order
Fill in the order form and provide all details of your assignment.
Proceed with the payment
Choose the payment system that suits you most.
Receive the final file
Once your paper is ready, we will email it to you.
Our Homework Writing Services
My Homework Writers holds a reputation for being a platform that provides high-quality homework writing services. All you need to do is provide us with all the necessary requirements of the paper and wait for quality results.
At My Homework Writers, we have highly qualified academic gurus who will offer great assistance towards completing your essays. Our homework writing service providers are well-versed with all the aspects of developing high-quality and relevant essays.
Admission and Business Papers
With Myhomeworkwriters.com, we will help you secure a position at your desired institution. Our essay writing services include the crafting of admissions papers. We will still help you climb your career ladder by helping you write the official papers that will help you secure a job. We will guide you on how to write an outstanding portfolio or resume.
Editing and Proofreading
Myhomeworkwriters.com has a professional editorial team that will help you organize your paper, paraphrase it, and eliminate any possible mistakes. Also, we will help you check on plagiarism to ensure that your final paper posses quality and originality.
My Homework Writers harbors professional academic writers from diverse academic disciplines. As such, we can develop homework writing services in all academic areas. The simplicity or complexity of the paper does not affect the quality of homework writing services.