Hugo and Charles were brothers who did business as partners for several years. When Hugo died, Charles

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Hugo and Charles were brothers who did business as partners for several years. When Hugo died, Charles was appointed administrator of his estate. Tax returns disclosed that the partnership business continued to operate just as it had before Hugo's death and that Hugo's estate received the profits and was charged with the losses of the business. Did Charles have the authority to continue the partnership business after the dissolution of the partnership brought about by Hugo's death, and are the assets of Hugo's estate chargeable with the liabilities of the partnership incurred after Hugo's death?

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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The Legal Environment of Business A Critical Thinking Approach

ISBN: 978-0132664844

6th Edition

Authors: Nancy K Kubasek, Bartley A Brennan, M Neil Browne

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