What law will the court apply in most states what will

Assignment Help Business Law and Ethics

Reference no: EM13469800

John, Lesa, and Tabir form a limited liability company. John contributes 60 percent of the capital, and Lesa and Tabir each contribute 20 percent. Nothing is decided about how profits will be divided. John assumes that he will be entitled to 60 percent of the profits, in accordance with his contribution. Lesa and Tabir, however, assume that the profits will be divided equally. A dispute over the question arises, and ultimately a court has to decide the issue. What law will the court apply? In most states, what will result? How could this dispute have been avoided in the first place? Discuss fully.

Reference no: EM13469800

Questions Cloud

Abc company is increasing its equity by selling additional : abc company is increasing its equity by selling additional shares to the public and also by converting its retained

Apple inc is known for its state-of-the-art designs for : apple inc. is known for its state-of-the-art designs for products such as the iphone but most are unaware that apple

Cleveland bar assn v pearlman 106 ohio st 3d 136 832 ne 2d : cleveland bar assn. v pearlman 106 ohio st. 3d 136 832 n.e. 2d 1193 2005. use lexis nexis for your research. i need a

If sample of lino3nbspis found to contain 203 middot : if a sample of lino3nbspis found to contain 2.03 middot 1018nbspn atoms how many moles of o atoms are present? express

What law will the court apply in most states what will : john lesa and tabir form a limited liability company. john contributes 60 percent of the capital and lesa and tabir

Consider why the microscope is so vital to the success of : consider why the microscope is so vital to the success of the modern criminalist and also the possibility that we

Write down a 1000- to 1500-word paper on at least three : write a 1000- to 1500-word paper on at least three major information security threats that a specific organization you

Discuss in detail why the impacts of procedural law on law : 1. discuss in detail the role of the police in criminal procedure.2. discuss in detail why the impacts of

Review the leader motives in ch 5 ofnbspleadership : resourcenbspthe prime ministers powerful better half mini case.reviewnbspthe prime ministers powerful better

User Account

All Pages