Acme Realty, a real estate development company, is a limited partnership organized in Georgia. It is planning

Question:

Acme Realty, a real estate development company, is a limited organized in Georgia. It is planning to develop a two hundred- acre parcel of land for a regional shopping center and needs to raise $1,250,000. As part of its financing, Acme plans to offer $1,250,000 worth of limited interests to about one hundred prospective investors in the southeastern United States. It anticipates that about forty to fifty private investors will purchase the limited interests.
(a) Must Acme register this offering? Why or why not?
(b) If Acme must register but fails to do so, what are the legal consequences?

Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...