Post responses to two of your classmates. 2-3 sentences
Allison:
A partner liquidation occurs when a partner or more than one decides that the partnership is no longer has a future or purpose. This decision is usually made and trading and business is wound up. This occurs in one of two ways a partner’s petition or a creditor’s petition.
The first step to a partner liquidation is to see all non cash assets for cash. Then record either a gain or loss on sale. The next step is to pay all liabilities of the partnership. The then remaining cash is distributed to the partners using the capital ration (Brown, 2019).
I can not find a real example of this but I did find a mad up partner liquidation. In this example there was partner A and partner B. The company had $20,000 in cash, $140,000 in non cash assets, and $50,000 in liabilities. The first step was to sell the non cash assets for cash. They sold the non cash assets for $100,000 which they then recorded as a loss of $40,000. This was then deducted equally from the the opening balances of each partner. Then they paid out their liabilities of $50,000. This left the partnership with $70,000 left. This $70,000 was then distributed to the partner A and B (Brown, 2019).
Brown, M. (2019, December 9). Liquidation of a partnership. Double Entry Bookkeeping. Retrieved September 27, 2022, from https://www.double-entry-bookkeeping.com/partnership/liquidation-of-a-partnership/
Yasmin:
A company would initiate a partnership liquidation when all partners/parties involved in the partnership have agreed that the partnership is not helping them out in a good way, they see no good future with the partnership or they are experiencing financial difficulties that can’t be fixed. They see no purpose in having the partnership so they decide to end it. Partnership liquidation is conducted by, “partnership assets being converted into cash that is then used to pay partnership liabilities as well as any liquidation expenses. Any remaining cash is distributed to the individual partners based on their final capital balances. Once all cash has been distributed, the partnership’s books are permanently closed. If each partner has a capital balance large enough to absorb all liquidation losses and expenses, the accountant should experience little difficulty in recording this series of transactions.” Partnership liquidation can take a long time to complete. Although I could not find a company that has experienced a partnership liquidation, I found out that, “the amount of money each partner receives after paying the company’s debts depends on the amount left in his capital account. For example, if partner A has $25,000 in his capital account and partner B has $30,000 after company debt repayments, partner A will receive $25,000 and partner B will receive $30,000.”
Source: Jordan Meyers, “Definition of a Liquidating Partnership,” Chron.
lost their right. This is further supported by “non-combatant immunity” (Frowe (2011), Page 151), which leads to the question of combatant qualification mentioned later in the essay. This is corroborated by the bombing of Nagasaki and Hiroshima, ending the Second World War, where millions were intently killed, just to secure the aim of war. However, sometimes civilians are accidentally killed through wars to achieve their goal of peace and security. This is supported by Vittola, who implies proportionality again to justify action: ‘care must be taken where evil doesn’t outweigh the possible benefits (Begby et al (2006b), Page 325).’ This is further supported by Frowe who explains it is lawful to unintentionally kill, whenever the combatant has full knowledge of his actions and seeks to complete his aim, but it would come at a cost. However, this does not hide the fact the unintended still killed innocent people, showing immorality in their actions. Thus, it depends again on proportionality as Thomson argues (Frowe (2011), Page 141).
This leads to question of what qualifies to be a combatant, and whether it is lawful to kill each other as combatants. Combatants are people who are involved directly or indirectly with the war and it is lawful to kill ‘to shelter the innocent from harm…punish evildoers (Begby et al (2006b), Page 290).However, as mentioned above civilian cannot be harmed, showing combatants as the only legitimate targets, another condition of jus in bello, as ‘we may not use the sword against those who have not harmed us (Begby et al (2006b), Page 314).’ In addition, Frowe suggested combatants must be identified as combatants, to avoid the presence of guerrilla warfare which can end up in a higher death count, for example, the Vietnam War. Moreover, he argued they must be part of the army, bear arms and apply to the rules of jus in bello. (Frowe (2011), Page 101-3). This suggests Frowe seeks a fair, just war between two participants avoiding non-combatant deaths, but wouldn’t this lead to higher death rate for combatants, as both sides have relatively equal chance to win since both use similar tactics? Nevertheless, arguably Frowe will argue that combatant can lawfully kill each other, showing this is just, which is also supported by Vittola, who states: ‘it is lawful to draw the sword and use it against malefactors (Begby et al (2006b), Page 309).’
In addition, Vittola expresses the extent of military tactics used, but never reaches a conclusion whether it’s lawful or not to proceed these actions, as he constantly found a middle ground, where it can be lawful to do such things but never always (Begby et al (2006b), Page 326-31). This is supported by Frowe, who measures the legitimate tactics according to proportionality and military necessity. It depends on the magnitude of how much damage done to one another, in order to judge the actions after a war. For example, one cannot simply nuke the terrorist groups throughout the middle-east, because it is not only proportional, it will damage the whole population, an unintended consequence. More importantly, the soldiers must have the right intention in what they are going to achieve, sacrificing the costs to their actions. For example: if soldiers want to execute all prisoners of war, they must do it for the right intention and for a just cause, proportional to the harm done to them. This is supported by Vittola: ‘not always lawful to execute all combatants…we must take account… scale of the injury inflicted by the enemy.’ This is further supported by Frowe approach, which is a lot more moral than Vittola’s view but implies the same agendas: ‘can’t be punished simply for fighting.’ This means one cannot simply punish another because they have been a combatant. They must be treated as humanely as possible. However, the situation is escalated if killing them can lead to peace and security, within the interests of all parties.
Overall, jus in bello suggests in wars, harm can only be used against combatants, never against the innocent. But in the end, the aim is to establish peace and security within the commonwealth. As Vittola’s conclusion: ‘the pursuit of justice for which he fights and the defence of his homeland’ is what nations should be fighting for in wars (Begby et al (2006b), Page 332). Thus, although today’s world has developed, we can see not much different from the modernist accounts on warfare and the traditionists, giving another section of the theory of the just war. Nevertheless, we can still conclude that there cannot be one definitive theory of the just war theory because of its normativity.