Re: Re: Membership sale agreement questions
From: Martin Schafer (
Date: Mon, 18 Apr 94 14:26 CDT
> I was interested in the fact that you only incorporated the day
> before closing.  Our group has felt some pressure to incorporate,
> in order to be seen as a legitimate legal entity, though we have
> not yet come close to making a deal on a piece of land (sigh).
> Did you find you had any difficulty being taken seriously by 
> business/professional types (lawyers, bankers, development 
> consultants, builders, etc.)?

Until you incorporate, your group is legally a partnership.  This
is a recognized form and people should be willing to take you 
seriously as long as you seem organized and seem like you know
what you are talking about.  

You should have a partnership agreement at this phase to establish
liability for expenses and determine what constitutes a contract
that is binding on the group as a whole.  You can incorporate when
and if it is convenient.

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