Oren and Jenna carry on their business of buying and selling real estate as a partnership. Each

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Oren and Jenna carry on their business of buying and selling real estate as a partnership. Each is entitled to 50 percent of the profits from the business. Oren bought and sold a parcel of real estate in the name of the partnership without Jenna's permission or knowledge. Oren took for himself the full amount of the profits from the sale ($100 000). Is there a legal basis for Jenna to claim compensation from Oren? If so, how much is she entitled to receive?

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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Related Book For  answer-question

Managing the Law The Legal Aspects of Doing Business

ISBN: 978-0133847154

5th edition

Authors: Mitchell McInnes, Ian R. Kerr, J. Anthony VanDuzer

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