LAW 3113 Final: MS
Document Summary
Date: december 12, 201 (1) capital to be invested. Our total estimated expenditures are approximately ,000 in start-up costs and then an additional ,000 monthly. We have decided to split the costs amongst ourselves equally. However, due to franklin"s shortage in savings, brady will be paying franklin"s share for the start-up costs. Thus, franklin will only be paying ,500 in legal fees, brady will be paying. However, franklin will be repaying brady for contributing his share of the loan. Brady will collect 15% of franklin"s share of profit from the company until the original start-up debt is paid. In addition, we will cover five months of monthly expenses and expect the start-up to cover the rest of the year"s monthly expenses going forward. (2) percentage ownership. The ownership distribution of our partnership will be based off of the capital infusion of each respective partner. Brady will own 50% of the startup, albert will own 40%, and franklin will own 10%.
