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Thom Georges wants to open a store to sell antique architectural features that he can salvage from old houses being torn down.He has an eye for the kind of doors,windows,mantels,and so forth that decorators want,but he does not have all the funding he needs.He has invited his parents to invest $40,000 in the enterprise.He has told them that if they do invest,they would have liabilities in the firm equal to but no greater than their investment.Georges is trying to get them to form which of the following?
Contract Clause
A specific provision or section within a contract that stipulates terms, conditions, or obligations.
Judicial Bodies
Courts or other tribunals that are empowered to adjudicate legal disputes and administer justice.
Administrative Agencies
Governmental bodies responsible for implementing, administering, and enforcing laws and regulations in specific areas of public policy.
Enabling Statute
A law that gives a government entity or agency the authority to take certain actions or enforce specific regulations.
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