ETH 321 OUTLET Career Path Begins/eth321outlet.com ETH 321 OUTLET Career Path Begins/eth321outlet.com | Page 12

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a written contract is the final expression of the party's agreement and
may not be contradicted by oral or written agreements made prior to th
e writing.
•
oral agreements may be used to change a final written contract if the f
inal written contract isn't exactly conforming to the precontract agreements.
•
written contracts with ambiguous terms are automatically void and ca
nnot be corrected.
•
written agreements may be used to change a final written contract if t
he final written contract isn't exactly conforming to the precontract agreements
2- LLPs were created to
•
Increase the duration of the business entity permitted under LLC stat
utes.
•
Provide limited protections for general partners increasing protections
offered by LLCs.
• Ease the costs and filing requirements present with LLCs.
• limit taxation burdens existing in LLCs
3Stan is an investment manager. He has received money from various i
nvestors with a promise of very high returns on their investments. The
invested money is not supplying enough capital in order to pay the retu
rns promised so he has started using new investor's money to pay older
investors. By advertising and by word of mouth, people are anxious to
invest with Stan because of the money being paid and with the influx o
f new investors he is able to continue operating. Stan is
• operating an insider trading operation.
• guilty of conspiracy to defraud.