Business Law – Start Up

This is a business law assignment , please refer to BELOW instruction

John and Jay are fellow graduates in counseling psychology at Markham University. After having worked on various projects together during their time at Markham University, they discovered they actually lived in the same community, met one another, and soon found they enjoyed each other’s company and found synergies in their work habits. They now plan on renting some space and opening a clinic together on the cool side of town. John’s parents have agreed to provide a five year interest free loan of $20,000 to assist with start-up costs. Jay’s dad, a carpenter by trade, has agreed to help with renovating the shop. How might the business be structured so as best to ensure both Jay and John’s interests are fully protected? How might the loan be structured?
Support your discussion with 2-4 scholars