Andrew Parente had a criminal record. He and Mario Pirozzoli Jr. formed a partnership to open and

Question:

Andrew Parente had a criminal record. He and Mario Pirozzoli Jr. formed a partnership to open and operate the Speak Easy Café in Berlin, Connecticut, which was a bar that would serve alcohol. The owners were required to obtain a liquor license from the state of Connecticut before operating the bar. Because the state of Connecticut usually would not issue a liquor license to anyone with a criminal record, it was agreed that Pirozzoli would form a corporation called Centerfolds, Inc., to own the bar, sign the real estate lease for the bar in his name, and file for the liquor license in his name only. Pirozzoli did all of these things. Parente and Pirozzoli signed a partnership agreement acknowledging that Parente was an equal partner in the business. The state of Connecticut granted the liquor license, and the bar opened for business. Parente and Pirozzoli shared the profits of the bar. Six years later, Pirozzoli terminated the partnership and kept the business. Parente sued Pirozzoli for breach of the partnership agreement to recover the value of his alleged share of the business. Parente’s share would have been $ 138,000. Pirozzoli defended, arguing that the partnership agreement was an illegal contract that should not be enforced against him. Is the partnership agreement an illegal contract that is void and unenforceable by the court? Parente v. Pirozzoli, 866 A. 2d 629, 2005 Conn. App. Lexis 25 (Appellate Court of Connecticut, 2005)

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Question Posted: