Johnson and Wilson were the principal shareholders in Matthew Corporation, located in the city of Jonesville, Wisconsin. This corporation was engaged in the business of manufacturing paper novelties, which were sold over a wide area in the Midwest. The corporation was also in the business of binding books. Johnson purchased Wilson’s shares of the Matthew Corporation, and in consideration thereof, Wilson agreed that for a period of two years he would not (a) manufacture or sell in Wisconsin any paper novelties of any kind that would compete with those sold by the Matthew Corporation or (b) engage in the bookbinding business in the city of Jonesville. Discuss the validity and effect, if any, of this agreement.

Describe the differences between a sole proprietorship, a partnership, and a corporation as business entities, including their advantages and disadvantages from a legal perspective.

Subject: Law on Partnership and Corporations   1. Distinguish between articles of incorporation and by-laws

Describe instances in which the interests of the management of a company might conflict with those of the shareholders and suggest mechanisms for their resolutions

Explain THREE (3) ways in which an agency may come into existence

Distinguish between an ordinary or general partnership and a private company limited by shares.

The following statements are true, except * -A limited partner is liable for partnership debts up to the extent of his capital contribution -An industrial partner can also be a capitalist partner at the same time. -An industrial partner who engages in business for himself can be excluded from the partnership. -A capitalist partner may engage in the same line of business as that of the partnership -answer not given   The following partnership accounts represent a liability of a partner to the partnership, except * -Receivable from partner -Loan to partner -Due from partner -all of the above -answer not given   A partner’s capital account is credited for the following transactions, except * -Share in net income -loan from the partner -Original and additional investment -both A and C -answer not given

The client seeks advice concerning the actions of the majority stockholder in a small corporation. The majority stockholder owns 58 percent of the stock, and the client and another shareholder together own 42 percent. The majority stockholder controls the board of directors and is president of the corporation. He refuses to allow the corporation to issue any stock dividends. Until recently, the client and the other minority stockholder worked for the corporation. Last month, the majority stockholder fired the client and the minority stockholder.     What sections of Am. Jur. 2d discuss this topic?

Norwegian Cruises is a company that owns and manages a large fleet of ships used primarily for cruises along Norwegian fjords.  Following a spike in tourist arrivals in Norway, Kristofer, the company’s managing director decided to increase the company’s fleet by acquiring another rival business.   With the short-term interest rate at 8%, Norwegian Cruises used $9 million of its retained earnings to acquire the assets and settle the debts of Fjords Unlimited, a local struggling business providing similar services. Kristofer’s acquisition was based on predicted additional annual sales of $2 million over the first five years. After close review of the acquisition, the board of directors qualified Kristofer’s performance as poor and decided to immediately terminate his employment and appoint Anngerd, the assistant manager, as the acting managing director. Do you know what motivated the termination of Kristofer’s employment? Norwegian Cruises is a company that owns and manages a large…

86. The following rights of partner who has not caused dissolution wrongfully, except: a. To have the partnership property applied to discharge the liabilities of the partnership. b. To have the suplus, if any, applied to pay in cash the net amount owing to the respective partners. c. To continue the business in the same name either by themselves or jointly with O others during the agreed term of the partnership and for that purpose may possess the partnership property. d. To be indemnified for damages caused by the partner who did not caused the dissolution wrongfully.