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SCENARIO Pam Cakes, Mabel Sirrupp, and Benji Wafel agree to go into the restaurant business together in Baltimore, specializing in breakfast cuisine. Cakes will contribute

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SCENARIO Pam Cakes, Mabel Sirrupp, and Benji Wafel agree to go into the restaurant business together in Baltimore, specializing in breakfast cuisine. Cakes will contribute $25,000, Sirrupp $50,000 and Wafel $5,000. Sirrupp, who lives in Denver, will not manage the business on an ongoing basis, but expects to receive profits from the business. Cakes, who lives in Baltimore, is a dentist for her regular job but also plans to have time to help run the restaurant. Wafel, who has a degree in restaurant management, plans to make the restaurant his regular full-time job. What provisions do you recommend be included in the partner/ shareholder" agreement? Explain the options and ramifications of the various provisions that may be contained in the agreement

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