The Crowne Inn

This strip confirms why families should not do business together. The case centers on the going concern slightly the ownership and direction of a bar originally started by the father of the family. on that point is a verbal agreement surrounded by the parents and their son about the impartment for the establishment; this was declared in front of the parents and their attorney. The income statement for Crowne Inn shows that the establishment is operating with a modest profitability. The reference work for this success is given to the son Bruce. The sales of alcoholic beverages in the United States have increased, but the bar industry has been experiencing fluctuations, to carry through the establishment a growing concern will hold that the owner(s) keep up with current trends while maintaining the existing clientele. The muddle of the establish seems to be appropriate to continue to gain in profitability. There are already three choices for the conclusion of this discrepancy in place. Option 1 is the have the son Bruce yield a lump sum, option 2 is to have Bruce get a smaller lump sum and continue to pay his set about $500 a month for the remainder of her life, and finally option 3 is the sell the bar outright to an immaterial party. The main objective is resolving the conflict without injuring the family dynamic further.

The mother does not extremity to lose the son but likewise needs the income for her own survival. By his own admission, any of the option would alienate the son cause a rift between mother, son, and grandchildren. First, the original verbal contract needs to become a written contract, this way all parties could read the agreement in black and white. The reactions to inquiries about the bar and the finances make it issue as if something inappropriate is taking place. The second step would be to conduct an audit of the books for Crowne Inn, to make sure all the pecuniary statements are correct. Third, the fair market value for the property, equipment, and reputation of the... If you want to get a full essay, order it on our website: Ordercustompaper.com

If you want to get a full essay, wisit our page: write my paper