Question: North Port Golf Associates NPGA is a limited partnership involved
North Port Golf Associates (NPGA) is a limited partnership involved in real estate and golf course development. NPGA contacted the Palmer Course Design Company (PCDC) and the Arnold Palmer Golf Management Company (APGMC) to design and manage two championship golf courses. As part of the agreement, NPGA was prohibited from using Arnold Palmer's name to promote any other business. A disclaimer was placed on the official investment summary brochure of NPGA stating, "As described herein, golf course design and management services will be provided to the partnership by PCDC and APGMC, respectively. Neither of these companies, nor Arnold Palmer, is affiliated with the partnership or general partners." PCDC completed the design of the golf course, but APGMC terminated its contract after NPGA refused to pay. After the failure of the project, NPGA alleged that Arnold Palmer, APGMC, and PCDC were partners by estoppel and were partially responsible for the interests of the limited partnership. Do you think the court agreed with NPGA? Why or why not?
Answer to relevant QuestionsMadison Real Estate is a limited partner of KanAm USA XIX Limited Partnership. The partnership agreement sets out the rights and obligations of the limited partners and the general partner and provides limited partners with ...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 ...Peter Smejkal was a corporate officer and director of J.A. Morrissey, Inc. (JAM), a construction company. While employed at JAM, Smejkal had his own excavation business and secretly performed excavation work on JAM projects ...Why are certain securities transactions exempt from the registration process? Machinchick worked for PB Power for six years. He received excellent reviews. Two years after beginning work, he was promoted to vice president. Four years after his promotion, Machinchick got a new supervisor and the ...
Post your question