George, Burton, and Dillman have been partners for three years. The partnership is being dissolved. George is

Question:

George, Burton, and Dillman have been partners for three years. The is being dissolved. George is leaving the firm, but Burton and Dillman plan to carry on the business. In the final settlement, George places a $75,000 salary claim against the He contends that he has a claim for a salary of $25,000 for each year because he devoted all of his time for three years to the affairs of the Is his claim valid? Why or why not?

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...