a. Were these four lawyers, in fact, partners? b. Why would the three other lawyers be liable
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b. Why would the three other lawyers be liable for the misdeeds of a non-partner?
c. So what is the moral of this story?
Four lawyers shared a suite of offices. They used stationery that listed all four names. One lawyer referred to another as his "partner." A newspaper article said that one of the lawyers was a "senior partner" in the firm. On the other hand, they did not have a partnership agreement, they did not share profits, nor did they file a partnership income tax return. One of the lawyers stole money from a client. The client sued the firm, asking a court to hold all four "partners" liable.
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...
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Business Law and the Legal Environment
ISBN: 978-1285860381
7th edition
Authors: Susan S. Samuelson, Jeffrey F. Beatty
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