Mona and Jill wish to start a partnership to sell hand woven sweaters.Jill's parents would like to invest,but they do not wish to be subject to liability for losses in excess of their capital contribution.Jill's mother tells Mona and Jill that if she invests,she expects to have a significant say in the management of the business.Should Mona,Jill,and Jill's parents enter into a limited partnership with the parents being limited partners,and why or why not? Would a limited liability company be a good option,and why or why not?

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The Answer of Mona and Jill wish to start a partnership to sell hand woven sweaters.Jill's parents would like to invest,but they do not wish to be subject to liability for losses in excess of their capital contribution.Jill's mother tells Mona and Jill that if she invests,she expects to have a significant say in the management of the business.Should Mona,Jill,and Jill's parents enter into a limited partnership with the parents being limited partners,and why or why not? Would a limited liability company be a good option,and why or why not?

Mona and Jill Wish to Start a Partnership to Sell