Reference no: EM13223195
Question 1. What type or types of business entity(ies) do you recommend Able, Baker, Charlie and Delta create?
Question 2. The bank requires that Able, Baker, Charlie and Delta sign the vessel mortgages and promissory notes in their individual names. Able forgets to sign the papers and in the rush of getting the financing the bank fails to note this fact. If the bank were to foreclose on one of the mortgages, Able may be able to assert which legal defense?
Question 3. Same as 2 above except Baker signs but later says that although she put her name on the paper, she had no intention of guaranteeing the business debt when she signed. If the bank were to foreclose on one of the mortgages, is Baker's belief a good defense?
Question 4. A statute of the United States (federal) passed by Congress states that it shall be a civil offense to pilot a vessel within fifty (50) yards of a whale known to the operator of the vessel. From what source of law may the U.S. government pass such a statute?
Question 5. Delta says that the business(es) should be non-profit. After all, she reasons, we are teaching parents and their kids about whales, their habitat and their protection. Support or attack Delta's idea. Explain your answer.
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