Question: Clients A, B , and C plan to open up a business which supplies Russian food to restaurants. Provide general advise addressing the questions below
Clients A, B , and C plan to open up a business which supplies Russian food to restaurants. Provide general advise addressing the questions below by explaining the law to them in terms that they can understand because they cannot understand technical legal terms. 1. how partnerships are set up; 2. whether written partnership agreements are recommended; 3. whether partners must always share equally in profits and losses. 4. how partnerships are dissolved, and if there is no partnership agreement the order in which partnership assets are distributed after dissolution. For example, the clients want to know who gets paid first, second, third, etc from the assets after dissolution of partnerships
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