Negotiate a lease for the restaurant premises

Assignment Help Business Law and Ethics

Reference no: EM131029453

Jurisdiction. Joe, a resident of New Jersey, wants to open a restaurant. He asks his friend Kay, who is an experienced attorney and a New Yorker, for her business and legal advice in exchange for a 20 percent ownership interest in the restaurant. Kay helps Joe negotiate a lease for the restaurant premises and advises Joe to organize the business as a limited liability company (LLC). Joe forms Cafe Ole, LLC, and, with Kay's help, obtains financing. Then, the night before the restaurant opens, Joe tells Kay that he is "cutting her out of the deal." The restaurant proves to be a success. Kay wants to file a suit in a federal district court against Joe and the LLC. Can a federal court exercise jurisdiction over the parties based on diversity of citizenship? Explain. (SeeThe Franchise Contract.)

Reference no: EM131029453

Questions Cloud

Explain the various types of management careers : Describe the various types of management careers that can be offered within each industry (lodging, and food and beverage). Compare and contrast the differences between the General Management (GM) positions within the two industries

Inadequate and took defensive measures : Purchase of Stock. Air Products & Chemicals, Inc., made a tender offer of $70 per share to the shareholders of Airgas, Inc. The Airgas board rejected the offer as inadequate and took defensive measures to block the bid. Some Airgas shareholders filed..

Type of analytics that would address specific organizational : For each of the situations described below, select the type of analytics that would address the specific organizational need and justify your selection. A) A mid-sized bank would like to provide as much automated support for its lending decisions as ..

Draw a profit graph for this product by plotting profits : To the extent that profit is not strictly proportional to the production rate, does this product have decreasing marginal returns, increasing marginal returns, or neither?

Negotiate a lease for the restaurant premises : Jurisdiction. Joe, a resident of New Jersey, wants to open a restaurant. He asks his friend Kay, who is an experienced attorney and a New Yorker, for her business and legal advice in exchange for a 20 percent ownership interest in the restaurant. Kay..

Discuss the major types of mergers : Discuss the major types of mergers and explain why they occurred. Will mergers continue to occur in the rail industry? Why or why not?

BWB benefits from way they formulate their mission-vision : In what way BWB benefits from the way they formulate their mission and vision? Do these mission and vision also create problems for the company? What should BWB do to be sustainable in the long term?

What proportion of five-sibling families is otitis prone : Suppose an "otitis-prone family" is defined as one in which at least three siblings of five develop otitis media in the first 6 months of life. What proportion of five-sibling families is otitis prone if we assume the disease occurs independently ..

Impacts of electric vehicle on distribution networks : The different modes of transport in the world available like air travel, railways and personal transport like cars and motorcycles all have common problems like cost of running and maintenance and fuel prices.

User Account

All Pages