Two paralegals, Rihanna and Alan have decided to form a limited liability partnership. Assume Rihanna bought
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Two paralegals, Rihanna and Alan have decided to form a limited liability partnership. Assume Rihanna bought $3,000 worth of legal books for the partnership's library. The books were purchased on credit and this debt remains outstanding. Also, Rihanna's assistant made an error on one of Rihanna's client's files. Now, the client is suing for his economic loss in the amount of $25,000 ("the lawsuit").
Referring to the appropriate legislation, discuss each partner's potential liability for:
a. the lawsuit
b. the outstanding debt for the cost of the book
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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