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[Skateboard Growth] Both Tyler and Byron were presidents of…

[Skateboard Growth] Both Tyler and Byron were presidents of small corporations involved with manufacturing and selling skateboards. Tyler’s store was called “Thrasher Skateboard” and Byron’s business was called “Skateboard for Health.” Because a large sports store was coming into town, they, along with the boards of directors of the two companies and all shareholders, decided that it would be a good idea to combine the businesses. They decided to retain the name “Skateboard for Health.” However, Tyler was concerned with the change because, on behalf of his company, he was contemplating filing a lawsuit against Sean who had purchased 10 custom skateboards and had not paid for them. He was excited, however, about the prospect of not being liable for a lawsuit he expects to be filed by Alec who fell and sustained a serious ankle sprain and medical bills when a wheel came off of a skateboard sold by Tyler’s corporation. After investigation, Tyler is aware that the wheel was negligently attached to the skateboard. Tyler told Byron that one reason he wanted to retain Byron’s name was to prevent Alec from being able to recover against him. Which of the following is the appropriate term for the action contemplated by Tyler and Byron to combine the businesses under the name “Skateboard for Health”?

[Tutoring Concerns] André and Sasha want to go into business…

[Tutoring Concerns] André and Sasha want to go into business together and plan on offering a tutoring service to high school and college students. André proposes that they share control of the business and split profits equally and not bother with a written agreement. Sasha, however, is concerned about being able to pay their debts, since they will have to rent tutoring space, and purchase computers and supplies. She is also concerned about parents and students who may sue if their test scores do not improve. She tells André that she just bought a new boat and car, and that she does not want her assets to be in jeopardy. She tells André that they should form a corporation to shield their personal assets. André, however, tells Sasha that their personal assets are not in danger with his proposal because they are a business and that, furthermore, forming a corporation would result in a tax being imposed twice. Is André correct in his assertion that by sharing control of the business and splitting profits equally there could be no personal liability for debts?