What is the best ownership structure for this farm

Assignment Help Business Law and Ethics

Reference no: EM133407728

Assignment:

Bob is 27 years old. Bob farms with his Dad, his uncle, and his cousin. They farm 6800 acres. They own 5400 acres (Bob's Dad owns 2500, Bob's uncle 2400, his cousin 320 acres, and Bob owns 160). Bob's father wants to retire in 5 years. Bob's uncle has no plans to retire. Bob's cousin does not want to farm but he wants to maintain his ownership of land as "an investment". The rest of the land is rented. Bob would like to take over his father's land. Bob likes to make decisions and does not want to work with absentee owners. Bob does not have much free cash or access to capital, outside of an operating loan. Bob's father wants to retire and be "completely out". He wants to sell all his land and assets and move to Vancouver Island. Bob has three siblings. None want to farm.

In your opinion, what is the best ownership structure for this farm? What should Bob do to plan for the future?

Reference no: EM133407728

Questions Cloud

What step in the process can you request information : If you and your attorney wanted to get information from Boom Bay about the accident, what step in the process can you request information?

Do you agree with the attractive nuisance doctrine : Do you agree with the attractive nuisance doctrine?

Why it is important for a paralegal to be aware of that law : Why it is important for a paralegal to be aware of that law before engaging in collection activity in texas.

Advantages and disadvantages in corporate form of business : In comparison with a partnership, what are some advantages and disadvantages in the corporate form of business?

What is the best ownership structure for this farm : In your opinion, what is the best ownership structure for this farm? What should Bob do to plan for the future?

Who is liable for the loss of the sixty cases of corn : Before Toddson delivered the corn to the railroad, the sixty cases were stolen from Toddson's warehouse. Who is liable for the loss of the sixty cases of corn.

Justify a discriminatory business practice : When does the First Amendment's Free Exercise of Religion Clause justify a discriminatory business practice?

What is the difference between estates and leaseholds : What is the difference between estates and leaseholds?

Is this a case of sex-plus discrimination : Worried about missed days of work, a company refuses to hire anyone with a child younger than 6. Is this a case of sex-plus discrimination?

User Account

All Pages