From Business Law today.

Place in a Fact-Issue-Law-Discussion-Conclusion format with opposing sides of each argument.

(Limited Liability Companies). John, Lesa, and Trevor form a limited liability company. John contributes 60 percent of the capital, and Lesa and Trevor each contribute 20 percent each. Nothing is decided about how profits will be divided. John assumed that he will be entitled to 60 percent of the profits, in accordance with his contribution. Lesa and Trevor, however, assume that the profits will be divided equally. A dispute over the profit arises, and ultimately a court has to decide the issue. What law will the court apply? in most states, what will result? How could this dispute have been avoided in the first place? Discuss fully.

(Business Forms (Sole Proprietorship, Partnerships, Corporate/Limited Liability Companies). Richard has come up with a business idea for a new product that could make him and his two friend rich. His idea is to manufacture a soft-drink dispenser for residential use and market them to consumers throughout the world. Richard has experience as a supervisor while Robert is a sales person and the third person Rachel wants to invest money only. What factors should the three take into consideration while deciding which form of business organization to adopt? (identify and analyze the basic business forms).