Question
After much discussion about the scenario in the previous weeks, Penny White offers to provide you with the necessary capital to satisfy the client's $160,000
After much discussion about the scenario in the previous weeks, Penny White offers to provide you with the necessary capital to satisfy the client's $160,000 claim, in exchange for becoming your partner in the company. Having learned your lesson about sole proprietorships and personal liability you accept her offer on the condition that you form a Limited Liability Partnership of some kind. She is uncertain and asks you to prepare minimally a 500-word explanation, in business letter form, to her as to why you want this new venture to be established as a Limited Liability Partnership, and identify all advantages and disadvantages of a LLP, using two scholarly resources.
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