LAW 531 UOP Tutorials,LAW 531 UOP Assignments,LAW 531 UOP Entire Class
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Limited Liability Company (LLC)<br />
Limited Liability Partnership (LLP)<br />
S-Corporation<br />
Franchise<br />
15.) There are two general partners, each of whom contributes $5,000 in capital<br />
to a limited partnership. There are two limited partners, each of whom contributes<br />
$20,000. The total amount of capital contributed is $50,000. The limited<br />
partnership agreement does not stipulate how profits and losses are to be allocated.<br />
Assume that the limited partnership makes $300,000 in profits. Under the Revised<br />
Uniform Limited Partnership Act (RULPA), how much would each partner<br />
receive?<br />
All partners would receive $75,000, regardless of whether he or she is a general or<br />
limited partner.<br />
Each general partner would receive $120,000, and each limited partner would<br />
receive $30,000.<br />
Each general partner would receive $30,000, and each limited partner would<br />
receive $120,000.<br />
Each general partner would receive $50,000, and each limited partner would<br />
receive $100,000.<br />
16.) Which of the following is true regarding mediation?<br />
If a settlement agreement is not reached in mediation, then the parties hire a new<br />
mediator.<br />
A settlement agreement is never reached with a mediator.<br />
Was created by the Federal Mediation Act of 1925.<br />
A mediator does not make a decision or an award.<br />
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<strong>LAW</strong> <strong>531</strong> Week 1 Individual Assignment The Legal System And ADR<br />
Analysis
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