Anson is a partner in the accounting firm Morris, Benton. According to the partnership agreement, Anson is

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Anson is a partner in the accounting firm Morris, Benton. According to the partnership agreement, Anson is entitled to 25 percent of the profits of the firm. Anson’s partners recently contracted for the supply of a computer system at a cost of $50 000 for use in the firm’s business. Anson strongly objected to the purchase of the system and voted against acquiring it, but the contract was approved by a majority vote of the partners, and his objections were ignored. Anson is so upset, he is thinking about resigning from the firm. Could the computer supplier hold Anson personally liable for any of the debt? If so, is there anything that Anson could do to avoid liability?
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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Canadian Business & the Law

ISBN: 978-0176501624

4th edition

Authors: Dorothy DuPlessis, Shannnon o'Byrne, Steven Enman, Sally Gunz

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