Question: Larson entered into a Special Manager Incentive Agreement SMIA with
Larson entered into a Special Manager Incentive Agreement (SMIA) with Tandy Corp. He agreed to manage a Radio Shack store for compensation equal to one-half of the adjusted gross profit of the store as computed by a specific formula and to provide the company with a $20,000 "security deposit" on equipment used to set up the store. The agreement was for a period of two years, automatically renewable annually until either party gave notice of termination 30 days prior to the end of a fiscal year. After some eight and one-half years of operating under renewed agreements, Tandy gave Larson notice of his termination. Larson sued Tandy, claiming that the SMIA was a partnership agreement because there were shared risks, expenses, profits, and losses. He sought an accounting for his reasonable share in the value of the store. Tandy argued that under the SMIA, Larson was an employee-manager, not a partner, and that the ultimate decision making on all matters was Tandy's. Decide. [Larson v. Tandy Corp, 371 S.E.2d 663 (Ga. App.)]
Answer to relevant QuestionsDaniel Zuckerman, a minor, and Elaine, his mother, brought a medical malpractice action against Dr. Joseph Antenucci and Dr. Jose Pena. Although the summons did not state that the two defendants were partners, the undisputed ...Thomas Smith and Jackie Lea were partners in the logging business. In January 1981, they joined Gordon Redd and went into business running a sawmill, calling the business Industrial Hardwood Products (IHP). Smith and Lea ...Hurwitz and Padden practiced law as equal partners for a short period of time before converting to an LLC. Some three years later, Padden informed Hurwitz that he intended to leave the firm. When they could not agree on how ...Edwin Edwards and Karen Davis owned EEE, Inc., which owned three convenience stores, all of which sold gasoline. Reid Ellis delivered to the three convenience stores $26,675.02 worth of gasoline for which he was not paid. ...Adams and two other persons were promoters for a new corporation, Aldrehn Theaters Co. The promoters retained Kridelbaugh to perform legal services in connection with the incorporation of the new business and promised to pay ...
Post your question