Francis is the owner of a plumbing business which he operate…

Questions

Frаncis is the оwner оf а plumbing business which he оperаtes as a sole proprietorship under the name A+ Plumbing. Francis wants to expand the business by adding additional trucks and equipment. To finance the expansion, Francis convinces Remy to invest $50,000. In exchange for the investment, Francis makes Remy part owner of A+ Plumbing and promises Remy 25 % of profits from the business. Francis tells Remy that Remy won't be personally responsible for the obligations of the business. Neither Francis nor Remy consulted a lawyer so they did not prepare or file any paperwork with respect to the investment or A+ Plumbing. It was simply a handshake deal. Things don't work out for A+ Plumbing as planned, and the business loses $10,000 during the year following Remy's investment. How will this loss be allocated?

Frаncis is the оwner оf а plumbing business which he оperаtes as a sole proprietorship under the name A+ Plumbing. Francis wants to expand the business by adding additional trucks and equipment. To finance the expansion, Francis convinces Remy to invest $50,000. In exchange for the investment, Francis makes Remy part owner of A+ Plumbing and promises Remy 25 % of profits from the business. Francis tells Remy that Remy won't be personally responsible for the obligations of the business. Neither Francis nor Remy consulted a lawyer so they did not prepare or file any paperwork with respect to the investment or A+ Plumbing. It was simply a handshake deal. Things don't work out for A+ Plumbing as planned, and the business loses $10,000 during the year following Remy's investment. How will this loss be allocated?

Frаncis is the оwner оf а plumbing business which he оperаtes as a sole proprietorship under the name A+ Plumbing. Francis wants to expand the business by adding additional trucks and equipment. To finance the expansion, Francis convinces Remy to invest $50,000. In exchange for the investment, Francis makes Remy part owner of A+ Plumbing and promises Remy 25 % of profits from the business. Francis tells Remy that Remy won't be personally responsible for the obligations of the business. Neither Francis nor Remy consulted a lawyer so they did not prepare or file any paperwork with respect to the investment or A+ Plumbing. It was simply a handshake deal. Things don't work out for A+ Plumbing as planned, and the business loses $10,000 during the year following Remy's investment. How will this loss be allocated?

Frаncis is the оwner оf а plumbing business which he оperаtes as a sole proprietorship under the name A+ Plumbing. Francis wants to expand the business by adding additional trucks and equipment. To finance the expansion, Francis convinces Remy to invest $50,000. In exchange for the investment, Francis makes Remy part owner of A+ Plumbing and promises Remy 25 % of profits from the business. Francis tells Remy that Remy won't be personally responsible for the obligations of the business. Neither Francis nor Remy consulted a lawyer so they did not prepare or file any paperwork with respect to the investment or A+ Plumbing. It was simply a handshake deal. Things don't work out for A+ Plumbing as planned, and the business loses $10,000 during the year following Remy's investment. How will this loss be allocated?

Frаncis is the оwner оf а plumbing business which he оperаtes as a sole proprietorship under the name A+ Plumbing. Francis wants to expand the business by adding additional trucks and equipment. To finance the expansion, Francis convinces Remy to invest $50,000. In exchange for the investment, Francis makes Remy part owner of A+ Plumbing and promises Remy 25 % of profits from the business. Francis tells Remy that Remy won't be personally responsible for the obligations of the business. Neither Francis nor Remy consulted a lawyer so they did not prepare or file any paperwork with respect to the investment or A+ Plumbing. It was simply a handshake deal. Things don't work out for A+ Plumbing as planned, and the business loses $10,000 during the year following Remy's investment. How will this loss be allocated?

Frаncis is the оwner оf а plumbing business which he оperаtes as a sole proprietorship under the name A+ Plumbing. Francis wants to expand the business by adding additional trucks and equipment. To finance the expansion, Francis convinces Remy to invest $50,000. In exchange for the investment, Francis makes Remy part owner of A+ Plumbing and promises Remy 25 % of profits from the business. Francis tells Remy that Remy won't be personally responsible for the obligations of the business. Neither Francis nor Remy consulted a lawyer so they did not prepare or file any paperwork with respect to the investment or A+ Plumbing. It was simply a handshake deal. Things don't work out for A+ Plumbing as planned, and the business loses $10,000 during the year following Remy's investment. How will this loss be allocated?

Frаncis is the оwner оf а plumbing business which he оperаtes as a sole proprietorship under the name A+ Plumbing. Francis wants to expand the business by adding additional trucks and equipment. To finance the expansion, Francis convinces Remy to invest $50,000. In exchange for the investment, Francis makes Remy part owner of A+ Plumbing and promises Remy 25 % of profits from the business. Francis tells Remy that Remy won't be personally responsible for the obligations of the business. Neither Francis nor Remy consulted a lawyer so they did not prepare or file any paperwork with respect to the investment or A+ Plumbing. It was simply a handshake deal. Things don't work out for A+ Plumbing as planned, and the business loses $10,000 during the year following Remy's investment. How will this loss be allocated?

Frаncis is the оwner оf а plumbing business which he оperаtes as a sole proprietorship under the name A+ Plumbing. Francis wants to expand the business by adding additional trucks and equipment. To finance the expansion, Francis convinces Remy to invest $50,000. In exchange for the investment, Francis makes Remy part owner of A+ Plumbing and promises Remy 25 % of profits from the business. Francis tells Remy that Remy won't be personally responsible for the obligations of the business. Neither Francis nor Remy consulted a lawyer so they did not prepare or file any paperwork with respect to the investment or A+ Plumbing. It was simply a handshake deal. Things don't work out for A+ Plumbing as planned, and the business loses $10,000 during the year following Remy's investment. How will this loss be allocated?