Jones and Hardy entered into an oral partnership agreement. They planned to develop and lease certain areas of land. Together, they formed the Bloomington Knolls Association. Jones and Hardy began to experience financial problems, and they brought in a third partner, Jackson, to arrange additional financing for the project. Jones subsequently dissolved the partner- ship and requested that he be given a portion of the land as his share of the partnership assets. Jackson and Hardy did not honor his request, and Jones never received any assets of the partnership. Jones moved for an accounting and winding up of partnership aff airs and brought the case to court. The district court entered judgment against Hardy and Jackson, jointly and severally, for an amount representative of Jones's interest in the partnership. Jackson and Hardy appealed the district court's decision. How do you think the court decided?
Answer to relevant QuestionsName at least three characteristics that distinguish corporations from other forms of business organization. The Greek shipping company Ionia Management managed a 600-foot oil tanker that delivered oil to ports along the eastern seaboard of the United States. During these deliveries, Ionia's engine room crew, at the direction of ...Investors brought a class action lawsuit against man- agers of a corporation, claiming that the managers made misleading statements that caused them to over- pay for the corporation's stocks. An expert concluded that the ...Anthony Romeo was an openly gay student at Seton Hall, a Catholic university. He claimed that he elected to attend Seton Hall in part because of its published antidiscrimination policy. In 2003, he applied to the Seton Hall ...Until 2002, the City of Bethlehem contractually retained the private law firm of Portnoff Law Associates, Ltd. (PLA) to collect payment for overdue water and sewer obligations. The city notified PLA of delinquent water and ...
Post your question