Fact Pattern 1

1. Mickey and Sam want to formally organize their business. What business forms would you recommend and why? Analyze all relevant business organization types.
2. Jessica's BBQ and Brisket restaurant wants tourists from Mickey and Sam's tours to stop by their restaurant during every tour. Jessica, the owner of the BBQ and Brisket, is 17 years old at this time. All three parties (Mickey, Sam, and Jessica) verbally agree that each tour will stop by the BBQ and Brisket restaurant for a small fee of $50. Mickey and Sam want you to draft a short four- to five-sentence contract for Jessica, Mickey, and Sam to sign. Draft the contract and advise Mickey and Sam on any potential issues that might arise in reference to this contract.
3. Mickey and Sam want to expand to other cities, hire employees, and raise capital for their growing business. Explain what you would recommend at this time to achieve their business goals and why?
4. Mickey has decided to raise capital in a different way. He meets with various investors and promises them a 10% return on their investment in 3 years if they will invest $100,000 in the Tours, Tours and More Tours business. Mickey meets with eight investors, and they each give him a $100,000 investment within one week. Sam is concerned about these investments. Sam has come to you for advice. Sam asks you, "Is Mickey committing any crimes when he meets with these investors and promises them returns on their investments?" How would you respond? Explain