BADM 403 iMSA
Individual Written Assignment 3
Assignment:
Read the following scenario and write 2-3 pages analyzing the legal issues and answering the questions posed. Be sure to cover all relevant issues and take on the role assigned to you in the scenario.
Scenario:
It’s the early 1970s and a young George Bluth is just getting started in the real estate development business. He wants to start a company called The Bluth Organization (TBO) to launch his new business, but he doesn’t know what form of business entity to choose. To make matters worse, his lawyer, Barry Zuckerkorn, is a moron and cannot be trusted to give good advice, so George turns to you for help. George wants his wife, Lucille, to own half of the company, but he wants to be the only person who can manage the business. He obviously wants to avoid taxes as much as possible. Also, it’s pretty likely that TBO will be sued rather frequently over the next several decades, so it’s important that George’s personal assets be protected from TBO’s creditors.
Barry has given George a list of business forms and now George wants you to help him understand which is best for him. The list includes: general partnership, limited partnership, limited liability partnership, s-corporation, c-corporation, and limited liability company. Explain to George the important characteristics of each type of entity and make a recommendation to George as to which entity type is best for TBO. Assume all current laws were also applicable in the early 1970s. (Hint: George seems to care a lot about taxation, liability, and management authority, so it’s probably a good idea to at least address each of those issues)
Rubric:
This rubric is a set of criteria used to assess your submission.
The following 2 criteria will be applied:
Issue spotting – how well are you able to identify the legal issues presented by the scenario?
Exemplary: You have spotted all of the legal issues raised by the scenario and possibly even some in addition to what was intended by the instructor
Commendable: You have successfully identified all of the most important legal issues, but possibly missed one or two minor points.
Sufficient: You have discussed most of the most important legal issues arising in the case but have missed at least one significant issue.
Minimal: You have noted some of the important legal issues but have neglected to discuss a majority of the crucial points.
Insufficient: You have failed to identify any of the important legal issues presented in the scenario.
Application of relevant law – once you have spotted a legal issue in the scenario, how well are you able to apply the law to the facts and reach the correct conclusion?
Exemplary: For each legal issue you discuss, you correctly determine how the law applies to the issue. Additionally, you consider alternative facts or outcomes, and identify how the law would handle various interpretations of ambiguous facts or terms.
Commendable: For each legal issue you identify, you correctly state the applicable law and conclusion, but do not consider alternative outcomes or ambiguous facts/terms.
Sufficient: For most legal issues you raise, you correctly apply the law to the facts, but one or more conclusions is inaccurate and there is no discussion of alternatives.
Minimal: For most legal issues you identify, you incorrectly apply the law to the facts and reach a conclusion that is not in line with applicable law. Further, there is no discussion of alternatives.
Insufficient: You fail to correctly apply the law to any of the legal issues you discuss, and consistently reach the wrong conclusions.
