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Vija and Tomas are planning to open a new business together as partners. Vija can only contribute $10,000 in start-up capital, but Tomas will invest
Vija and Tomas are planning to open a new business together as partners. Vija can only contribute $10,000 in start-up capital, but Tomas will invest $100,000. Vija will work in the business full-time, although Tomas would like to help run the business too.
How can Tomas minimize his personal liability as a partner for any business debt?
Name and explain the one Ontario statute that partners should consider.
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