|Re: Written rules||<– Date –> <– Thread –>|
|From: David G Adams (dadamsworld.std.com)|
|Date: Fri, 26 Aug 94 09:48 CDT|
Gareth Fenley wrote about partnerships and problems in his Atlanta group. Currently Cornerstone is operating as a partnership as well, as I think most groups do in the formation stages. Incorporating is a somewhat expensive process, and requires overhead of filing government forms, etc. We definitely will incorporate before we sign any large (> $10,000 or so) contracts. The exception to this rule is the Cohousing Center, who have kindly agreed in writing to not charge us any fees not already paid if we were to disband for some reason. So while we are spending money and doing a lot of work, we are not yet incurring any large liability that I can see. Effectively we have the same problem as the Gareth's Group in that we want new members to sign the same Joint Venture Agreement we did. Unfortunately Joint Ventures imply "joint and several" liability. The good news for us is that the Joint Venture agreement has very explicit escape clauses and dissolution rules, which look like they cover all the bases. We borrowed meat of the agreement from one of the Amhearst / Noho groups. We also borrowed their lawyer. I will try to get the computer copy of the agreement if anyone wants a copy EMailed. Dave Adams Cornerstone ______________________________________________ |\/\/\/| David G. Adams |____ | U4 Consulting OO ) | Arlington, MA ( | dadams [at] world.std.com | | CompuServe: 72630,1374 ______________________________________________
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