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A brother and sister team, Anthony and Rosa, took over the family's Italian restaurant business from their father. Rosa operates one of the three locations,
A brother and sister team, Anthony and Rosa, took over the family's Italian restaurant business from their father. Rosa operates one of the three locations, keeps the firm's books, and orders supplies and equipment for all three locations. Anthony operates the other two restaurants. Anthony thinks he should get twothirds of the company profits because he is responsible for the profitability of two out of three locations. Rosa sees it differently because she feels her responsibilities span the entire business. What's most important for them to remember in their situation is
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the firm's limited llability status.
the fact that Anthony should get the profits from two locations because he also assumed all the liability from those locations.
that they should do a split with Rosa getting the lion's share since she was spending many hours on the books and ordering.
the fact they both share unlimited llability, so if one or the other failed to meet hisher financial commitment, the other partner would also be liable for all debts.
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