1. Thanasi has a business snowplowing. He uses a 2018 Ford Rapture with a snowplow outfitted to it. While plowing a driveway, he negligently ran it into the side of the neighbour's house. The damage to the house and contents is extensive and will likely cost more than $100,000 to fix. His only business asset is his Ford Rapture and his only personal asset is his 2020 Ford Mustang with a V8 engine. In each of the following situations, list the assets which are at risk and explain why. a) His business is run as a sole proprietor. b) His business is run as a corporation. c) His business is run as a partnership with Cameron. Instead of Thanasi driving the Ford Rapture, instead it was Cameron who negligently hit the neighbour's house. Cameron has no assets of his own. 2. Solomon has retired as a carpenter and started a new career getting into making intricate (and expensive furniture). He works by commission and his projects are getting more and more involved as time goes on, to the point where he hired an employee (a friend) and one of his sons, Jones, to do some of the work. Currently, both Solomon's friend and his son are part-time but the amount of work involved only seem to be increasing as their talents become known. Solomon hopes that one day Jones will carry on the business after he dies. The work has been done out of his garage but now he will be purchasing a small workshop. Solomon has taken the opportunity to ask you what form of business he should enter. Make and justify a recommendation to Solomon, choosing between: a) A sole proprietor b) A corporation c) A partnership (with his son, Jones) 3. Valery is a senior manager and founder of a corporation. She says to Jamie, a director of the corporation, that she will recommend at the next board meeting that director compensation be increased on the condition that Jamie puts forward a recommendation that Valery's compensation be increased. Should Jamie acquiesce to Valery's request? 4. Jenny is the operator of a cabinet-making shop. A supplier, Harjinder, comes to visit the shop. Jenny points to one of her cabinet makers and jokingly says, "That's Victoria. She's the boss around here and makes all the important decisions!" She is joking but Harjinder thinks she is serious. Victoria later calls Harjinder and says, "Could you please send 500 boards of your finest cedar at 6pm tonight? We need it badly" Harjinder says, "No problem." Harjinder drops off the cedar that night. Victoria steals all of it and leaves town, never to be seen again. Harjinder tries to collect from Jenny. Would a court force Jenny to pay Harjinder? Why or why not