Advise ana on the concerns she has raised

Assignment Help Business Law and Ethics

Reference no: EM133233124

Question Partnerships

Ana Gold is the founding partner of the firm GOLD. The other partners are Bella Osmium, Chris Lead, and David Dubnium. Due to stress, Ana wishes to retire from the firm earlier than she had planned.

Ana has several concerns about retiring, and comes to you for advice.

She says, "Because the firm is called 'GOLD', I'm concerned that people will think I'm still a partner after I retire. I might then be held liable for the debts of the firm. What should I do about our existing customers, and any future customers? Also, I had always hoped that my daughter would want to renovate and live in the building that houses GOLD. It's registered in my name, and I have always made my plans clear to the other partners, but Chris now says we need to divide it between the partners."

Required: Advise Ana on the concerns she has raised.

Reference no: EM133233124

Questions Cloud

Difference between line authority and staff authority : Explain the difference between line authority and staff authority and compare the advantages and disadvantages of each.

What is the probable legal effect ofkools statement : LAW 788 Boston University, What is the probable legal effect ofKool's statement to George that Kool had sold his jeep to Frank for $9,500.00?

Develop COBOL program : Develop a COBOL program that will convert an amount of US Dollars to Canadian Dollars.

How are brick and mortar retail stores reacting : How are brick and mortar retail stores reacting to online competitors? Provide at least 2 examples of how they are changing their marketing strategies

Advise ana on the concerns she has raised : COML 204 Victoria Wellington, Advise Ana on the concerns she has raised Chris now says we need to divide it between the partners."

Differences between Rapid Application Development and Agile : What are the differences between Rapid Application Development and Agile? Review the Project Description if you have not already

What is jit-lean intended to accomplish : Describe the philosophy that underlies JIT/ lean. (That is, what is JIT/ lean intended to accomplish?)

Define the objective theory of contracts : Define the Objective Theory of Contracts and Explain why BNI and Carol do, or do not, have a contract - Carol immediately e-mailed BNI, agreeing to do the work

What is cultural identity : What is cultural identity? Where do you fit in in terms of cultural identity? Does a manager need to know about cultural identity in an organization

User Account

All Pages