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Discussion Board Forum 3 Thread

  • From Business, General Business
  • Due on 28 Feb, 2020 08:22:00
  • Asked On 25 Feb, 2020 08:26:52
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DB--Below:

 

Peter and Andrew are brothers. Since childhood, they have wanted to convert a barn on their grandfather’s farm into a hunting and fishing lodge that would provide modest but comfortable accommodations for sportspersons using nearby recreational lands. Andrew has suggested that they bring his friend, Paul, into the business, as well. While Peter and Andrew would develop the property, Paul has experience in the hospitality industry and could manage the day-to-day operations. Peter and Andrew would also want to make the lodge available to local church groups for worship retreats. They haven’t yet discussed this with Paul, because they know he is not comfortable with most churches and their positions on social issues. The men are now discussing how to form the new business, and have narrowed their choices to a general partnership or a limited liability company (LLC). What would you advise, and why? Consider and discuss issues such as:

  • What personal liability will the owners have for the obligations of the business (contracts, debts, lawsuit judgments, etc.)
  • Should Paul be included as a co-owner, or in some other role? On what do you base that decision?
  • How would contributions to the new business be valued?
  • How would profits and losses be distributed?

Refer to the Assignment Instructions folder of the course for general directions and grading rubrics for Discussion Boards, including requirements for word length, scholarly sources, and integration of a Biblical worldview.

Identify your conclusion in the subject line of your post (General Partnership, LLC, etc.). Do not use attachments, as these are cumbersome and inhibit the discussion process.

Suggested Readings:

2 Corinthians 6:14–18 (For this passage, you should consult some trusted exegetical commentaries, many of which may be found on www.ccel.org.)

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[Solved] Discussion Board Forum 3 Thread

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  • Submitted On 26 Feb, 2020 03:43:43
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Peter and Andrew are brothers. Since childhood, they have wanted to convert a barn on their grandfather’s farm into a hunting and fishing lodge that would provide modest but comfortable accommodations for sportspersons using nearby recreational lands. Andrew has suggested that they bring his friend, Paul, into the business, as well. While Peter and Andrew would develop the property, Paul has experience in the hospitality industry and could manage the day-to-day operations. Peter and Andrew would also want to make the lodge available to local church groups for worship retreats. They haven’t yet discussed this with Paul, because they ...
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[Solved] Discussion Board Forum 3 Thread

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  • Submitted On 26 Feb, 2020 03:46:08
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READ CAREFULLY BEFORE PURCHASE;-In a general partnership, two or more individuals own and operate a business; they are joint owners, meaning that each partner has equal right to the operation of the business. What this means is that each partner has personal liability similar to that of a sole proprietorship. An LLC limits personal liabili...
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[Solved] Discussion Board Forum 3 Thread

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  • Submitted On 28 Feb, 2020 04:25:28
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DB--Below: Peter and Andrew are brothers. Since childhood, they have wanted to convert a barn on their grandfather’s farm into a hunting and fishing lodge that would provide modest but comfortable accommodations for sportspersons using nearby recreational lands. Andrew has suggested that they bring his friend, Paul, into the business, as well. While Peter and Andrew would develop the property, Paul has experience in the hospitality industry and could manag...
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