Kendall has developed a new fishing rod and needs $100,000 t…
Kendall has developed a new fishing rod and needs $100,000 to build some inventory and cover the start-up costs for a new business. Roman, a wealthy fishing nut who considers Kendall his closest friend, transfers $100,000 to Kendall. Kendall and Roman form a limited partnership, with Roman being a limited partner and Kendall being the general partner. As to this venture,