Jack and Jill, two entrepreneurs, intend to form a limited partnership in the state of Flux for
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Jack and Jill, two entrepreneurs, intend to form a limited partnership in the state of Flux for the purpose of investing in oil and gas ventures. All of the general and limited partners will be Flux residents, and all of the books and records of the partnership (including securities and all evidence of ownership in the ventures) will be maintained in Flux. Based on the holding of Busch v. Carpenter, what additional information would you want to know before you could advise the entrepreneurs as to whether there would be any problems selling unregistered limited partner interests in their enterprise under the intrastate offering exemption?
Related Book For
Smith and Roberson Business Law
ISBN: 978-0538473637
15th Edition
Authors: Richard A. Mann, Barry S. Roberts
Posted Date: