Business Scenario

Andrew founded and operated a wedding planning agency, which specialized in celebrity weddings. When he died, his business was dissolved because there was no plan for control after his death.

Purple Consulting has five consultants in the firm. The company's annual revenue is around $$500,000.$ Income is distributed among all consultants, and each is personally liable for claims if the company goes under.

DDX Co$,$ is a shipping company, Caesar owned $1,000$ shares of DDX stock. He found better opportunities and sold his entire stake in DDX to another investor.

Caesar, Rafael, and Jose own an accounting firm in San Francisco. All share in the profits of the firm proportionately and file taxes at an individual level. According to their agreement, none of the owners will be held personally liable for the accounting firm's debt.