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Please help me brerak down TWO of these 3 scenarios Scenario I - Business Organizations Yolanda, Ginny, and Sara met while working for the Campus
Please help me brerak down TWO of these scenarios Scenario I Business Organizations Yolanda, Ginny, and Sara met while working for the Campus Subs in Knoxville, Tennessee. Yolanda was attending college to earn a business degree in hospitality. Ginny was attending culinary school to become a chef, and Sara was a recent graduate in sales and marketing. The three ladies decided to open their own soup and sandwich restaurant on wheels, also known as a food truck. They planned to start small with one truck but had big dreams to own a whole fleet of trucks that served a variety of foods. Yolanda took a business law class and remembers there are several forms for organizing businesses. The ladies have come to you for advice about the various forms of business organizations. Evaluate three forms of business organizations including advantages and disadvantages related to the business the ladies plan to operate. At least one of the options must be the LLC or LLP Select a business form for the friends and defend your choice. Explain the requirements for starting that form of business in your state. Scenario LLC Liability Plaintiffs Karl and Ginny Drake were injured by lead paint while living in a house owned by Riverwood Homes, LLC The plaintiffs sued Bill Ding, a member of the LLC at the time it owned the property, alleging that he was liable for their injuries. Ding had limited involvement with the property. He has never visited the property, and neither he nor the LLC was aware that the plaintiffs were occupying the property until after the LLC acquired it Once they realized this fact, they took legal action to have the plaintiffs removed. The applicable housing code imposes liability on any individual who "owns, holds, or controls" the title to the property. Is Ding liable for the plaintiffs' injuries? What are the policy arguments in favor of both parties? Scenario Securities In after working at Regions Bank for years, Noah Lott helped found Nova Capital Corporation, a venture capital firm that invested in the technology sectors NCC went public in and Lott served as its CEO and chairman of the board. Various documents filed with the SEC stated that Lott "earned his MBA in finance from Harvard University and an undergraduate degree in management. In fact, he attended Harvard for only year and did not graduate. After being pressured by a journalist, Lott disclosed the misrepresentation to the NCC board. The same day, the company issued a press release correcting the statement. The press responded negatively to "another CEO that lied about his resume" and speculated about "what else might not be right. On the day the press release was issued, NCCs stock price dropped from $ per share to $ but it fully recovered within a six weeks. Shareholders sued, alleging that the misrepresentation violated section of the Act, section b of the Act, and Rule b Was Lott's lie about having a college degree material? Would your answer be the same if a CEO lied about having helped to take a company through an initial public offering and subsequent acquisition by another company and having led a pharmaceutical company from incorporation through human clinical trials and launch of a new drug? If you were a member of the NCC board, would you be comfortable keeping Lott as CEO once you learned that he had lied about having a college degree? Scenario Bankruptcy and Secured Transactions Coastal Property Restoration CPR periodically purchased used restaurant equipment from Slyce Pizza Company. CPR refurbishes and sells restaurant equipment to small restaurants. In December CPR purchased five used pizza ovens for $ Because of the good relationship between the companies, Slyce financed the ovens for two years; however, Slyce did not obtain a perfected security interest in the ovens. In July CPR sold four of the ovens to another refurbishing company for $ two days before filing bankruptcy. CPR still owes approximately $ to Slyce for the ovens. Evaluate the legal and ethical issues associated with CPRs sale of the pizza ovens before filing bankruptcy. What recourse does Slyce have in recovering the monies still owed on the
Please help me brerak down TWO of these scenarios
Scenario I Business Organizations
Yolanda, Ginny, and Sara met while working for the Campus Subs in Knoxville, Tennessee. Yolanda was attending college to earn a business degree in hospitality. Ginny was attending culinary school to become a chef, and Sara was a recent graduate in sales and marketing. The three ladies decided to open their own soup and sandwich restaurant on wheels, also known as a food truck. They planned to start small with one truck but had big dreams to own a whole fleet of trucks that served a variety of foods.
Yolanda took a business law class and remembers there are several forms for organizing businesses. The ladies have come to you for advice about the various forms of business organizations.
Evaluate three forms of business organizations including advantages and disadvantages related to the business the ladies plan to operate. At least one of the options must be the LLC or LLP
Select a business form for the friends and defend your choice.
Explain the requirements for starting that form of business in your state.
Scenario LLC Liability
Plaintiffs Karl and Ginny Drake were injured by lead paint while living in a house owned by Riverwood Homes, LLC The plaintiffs sued Bill Ding, a member of the LLC at the time it owned the property, alleging that he was liable for their injuries. Ding had limited involvement with the property. He has never visited the property, and neither he nor the LLC was aware that the plaintiffs were occupying the property until after the LLC acquired it Once they realized this fact, they took legal action to have the plaintiffs removed. The applicable housing code imposes liability on any individual who "owns, holds, or controls" the title to the property.
Is Ding liable for the plaintiffs' injuries?
What are the policy arguments in favor of both parties?
Scenario Securities
In after working at Regions Bank for years, Noah Lott helped found Nova Capital Corporation, a venture capital firm that invested in the technology sectors NCC went public in and Lott served as its CEO and chairman of the board. Various documents filed with the SEC stated that Lott "earned his MBA in finance from Harvard University and an undergraduate degree in management. In fact, he attended Harvard for only year and did not graduate. After being pressured by a journalist, Lott disclosed the misrepresentation to the NCC board. The same day, the company issued a press release correcting the statement.
The press responded negatively to "another CEO that lied about his resume" and speculated about "what else might not be right. On the day the press release was issued, NCCs stock price dropped from $ per share to $ but it fully recovered within a six weeks.
Shareholders sued, alleging that the misrepresentation violated section of the Act, section b of the Act, and Rule b
Was Lott's lie about having a college degree material?
Would your answer be the same if a CEO lied about having helped to take a company through an initial public offering and subsequent acquisition by another company and having led a pharmaceutical company from incorporation through human clinical trials and launch of a new drug?
If you were a member of the NCC board, would you be comfortable keeping Lott as CEO once you learned that he had lied about having a college degree?
Scenario Bankruptcy and Secured Transactions
Coastal Property Restoration CPR periodically purchased used restaurant equipment from Slyce Pizza Company. CPR refurbishes and sells restaurant equipment to small restaurants. In December CPR purchased five used pizza ovens for $ Because of the good relationship between the companies, Slyce financed the ovens for two years; however, Slyce did not obtain a perfected security interest in the ovens. In July CPR sold four of the ovens to another refurbishing company for $ two days before filing bankruptcy. CPR still owes approximately $ to Slyce for the ovens.
Evaluate the legal and ethical issues associated with CPRs sale of the pizza ovens before filing bankruptcy. What recourse does Slyce have in recovering the monies still owed on the
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