Corporations Law Assignment | Top Universities
Corporations law
Alex, Nick, Jean, and Mary are childhood friends who continued their interest in reading to adulthood. In the past 5 years, their reading club has grown to close to 20 members and they now undertake ‘reading hours’ at local libraries and child care centers which have proven to be very successful. The original members start a discussion on whether they ought to formalize and regulate their Reading Club activities. When this idea is discussed with the rest of the members, there is disagreement as to what should happen to the money that would be earned through these ‘reading hours’. The original members wish to distribute the money amongst the members who undertake these sessions and members who prepare and contribute towards the material. Others argue that the money should be donated to charity.
They now seek legal advice on what structure and form would best suit their needs and the implications of the choices they make.
Advice sought
Task 1: What is involved in terms of structure, documentation, regulation, funding sources, and use of funds in the above situation?
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