Split the money they receive for their performance

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1. John, Denny, Cass, and Michelle decided to perform music together from time to time. John would pay to book a venue. Denny would pay for gas in Cass’s car (a beat up car, but that she later replaced with a Porsche), and Michelle would buy dinner before their gig. Has a partnership been formed? How should they split the money they receive for their performance?

2. Mark knew a guy named Bruno who had a good voice and was both uptown and had some funk. They decided to make a record together. Bruno started spending money on a limo driver named Julio. He also called the police and firefighters. Bruno did this without sharing this information with Mark. Is there a partnership? What, if anything, might Mark owe for Bruno’s expenses?

3. Please explain the difference between a general partnership, LLC, Chapter C Corporation, and Chapter S Corporation.

4. Please explain the different types of shares in that may be present in a corporation and their significance.

5. Please explain the role of management Vis to Vis the corporation itself and other stakeholders in various situations.

Reference no: EM13837148

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Split the money they receive for their performance : John, Denny, Cass, and Michelle decided to perform music together from time to time. John would pay to book a venue. Denny would pay for gas in Cass’s car (a beat up car, but that she later replaced with a Porsche), How should they split the money th..

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