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Bruce wants to use some of the money he received from an inheritance to start a business selling taco seasonings. He received a $100K inheritance, but he only wants to use $10K of it for the business. The other $90K he'd like to protect for future investments. He decides to go into business with Hal, who knows a lot about tacos. Hal is going to create the seasonings and Bruce will be in charge of the flavors. They decide to form a limited liability company called Taco-riffic Seasonings, LLC. Unknown to Bruce, Hal decided to sell grape-flavored taco seasoning and ordered $10K worth of the flavor. No one bought the grape-flavored seasonings and now creditors are wanting their money for the raw seasoning materials. Plus, the one person who bought grape-flavored seasoning got sick and is threatening to sue.
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