Ashley (23 years old), Myra (23 years old) and Angelo (22 years old) are all graduated . The three friends enjoyed Today, they plan to start their own business. , the three are asking you for legal information,

Answer their questions. Support your answers with the applicable law and the knowledge you have gained in your Business Law course.

1. Would it be possible to incorporate under Ontario law? - Answer YES or NO, then justify your answer with a MAXIMUM of 3 LINES (5 points)

2. Ashley wants to do the following: "I would like my liability to be limited to what I put into the business; and I don't want to have any decision-making power. - What legal form of corporation would meet Ashley's wishes? Justify your answer with the applicable law. A MAXIMUM of 4 LINES (5 points)

3. Finally, the three friends decided to form a "limited liability company". - Can this limited liability company be incorporated under Canadian law (federal law)? Why or why not? Answer YES or NO, then justify your answer with a MAXIMUM of 5 LINES (5 points)