Business and Family Law

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Essay #: 064757
Total text length is 10,850 characters (approximately 7.5 pages).

Excerpts from the Paper

The beginning:
Abstract
This paper is a legal opinion on a hypothetical scenario where the client Ahmed loans $100,000 to his daughter Rohini’s computer software company. The first question concerns Ahmed’s liability for the $50,000 of company debt and how this can be avoided. The second question explores how a partnership can be established to limit personal liability. The final question concerns the establishment of a corporation and the rights and responsibilities of the parties.
Business and Family Law: Second Assignment
Under What Circumstances would Ahmed be liable?
Ahmed would have to be found liable by a court through legal action to determine the relative liabilities and responsibilities of the parties. In a legal proceeding the plaintiff would...
The end:
.....poration Rohini would be greater benefactor as she will escape personal liability, maintain the ownership of her copyright and enjoy the potential rewards at equal par with her father Ahmed that is placing the $100,000 at complete risk with no guarantee of repayment for the loan. Ahmed will not incur personal liability and he may see a return on his investment.
References
Black, H. (1979). Black’s Law Dictionary. St. Louis: West Publishing Company.
Canada Corporations Act. Department of Justice Canada. Retrieved November 28, 2010, from http://lois.justice.gc.ca/eng/C-1.8/index.html
Partnership Act. (2009). Service Ontario – e-Laws. Retrieved November 28, 2010, from http://www.e-laws.gov.on.ca/html/statutes/english/elaws_statutes_90p05_e.htm