Question

Sarah and Wei have an opportunity to buy a large parcel of land on the Willamette River, just two miles south of Salem. They want to build an amusement park on the land. Sarah approaches you and says, "Hey, I know you took that BA 333 class, so maybe you can help me figure out what to do. Wei and I need a lot of money to start up our amusement park and buy the land we want, and we're a little nervous about getting sued if someone gets thrown out of our roller coaster. What kind of business do you think we should we set up? We were thinking maybe we could just be partners. We'd prefer not to have anything formal written down--we think that might be bad for our friendship. What's your advice?"
Draft an answer to Sarah and Wei and include it in your document. Your answer should include: 1) your recommendation for the best entity choice; 2) a complete explanation of why this is the best option; 3) a secondary recommendation, in case Sarah and Wei don't like your first option; 4) an explanation as to why this is your second choice (i.e., compare to your first choice and explain why this is not as good, but still an acceptable option).

Answer 1

Answer:

Explanation below.

Explanation:

The recommendation that I will give or propose is that the agreement must have a legal backing.

This is the best recommendation that a wise person can proposes. It is a show of height of stupidity when an individual go into conjunction with another person without any written agreement that is backed legally. This because, when there is a problem in the future, the documents will be a way to solve it.

The other secondary option is written and signed agreement with video recording. This is not as good as the one mentioned above, but can still be considered as an alternative.