Tailoring experts Frida, Rena, and William decide to go into…
Tailoring experts Frida, Rena, and William decide to go into business together. Their business, FitzWellby, is a business that provides in-home measuring and fittings and even on-site stitching to busy executives who don’t have time to take their clothing to tailor shops. Since all three have the same skills and all plan to work and manage the business together, they plan to share the profits of the business equally. At first, William believes that their business is unlikely to be sued for any reason—after all, they’re just providing in-home services. Rena points out that one of the three could accidentally damage a client’s personal property or, more likely, an expensive piece of clothing. William is quickly convinced that perhaps their business is riskier than he originally thought. The three of them decide to consult an attorney for advice as to how to structure their new business. Which type of partnership would be best for FitzWellby?
Read DetailsErica bought forty acres of farmland in western Missouri. Sh…
Erica bought forty acres of farmland in western Missouri. She has absolute ownership of the property and has the ability to control what happens to the property in the event of her death. What type of real property interest does Erica have in the farmland?
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