Question: 1. Problem: A, B, and C formed a partnership under the following terms and conditions: a. Participation A=40%, B=40%, C=20% b. A and B should

1. Problem: A, B, and C formed a partnership under the following terms and conditions:

a. Participation A=40%, B=40%, C=20%

b. A and B should supply the entire capital. C would contribute his management expertise and be the manager for the first five years without compensation.

c. C shall not be liable for losses.

After one year of operation the partnership became bankrupt.

Could A alone, opposed by B and C have C removed as manager? Why?
Could C personally be held liable for debtors of the partnership not satisfied with the assets of the partnership? Why

D. Discuss the Three cases of knowledge of a partner under Article Number 1821

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Law Questions!

Business Law 1. Problem: A, B, and C formed a partnership under the following terms and conditions: a. Participation A=40%, B=40%, C=20% b. A and B should supply the entire capital. C would...

1. Problem: A, B, and C formed a partnership under the following terms and conditions: a. Participation A=40%, B=40%, C=20% b. A and B should supply the entire capital. C would contribute his...

1. What is the obligation of a partner who undertakes to deliver a specific property? a. To deliver the property at the time it becomes available b. To warrant the property against possible eviction...

Reviewer for midterms in Law 2 1. What is the obligation of a partner who undertakes to deliver a specific property? a. To deliver the property at the time it becomes available b. To warrant the...

Please need to read Medlee case and your own individual Profile (Your are Armstrong) and compleetee the Strategic Global Negotiation Preparation Guide Worksheet. Thank you MEDDLE CASE: MedLee: In...

Chapter 9Punishment and Sentencing MULTIPLE CHOICE 1. Which of the following is NOT one of the four basic philosophical reasons for sentencing? a. Deterrence b. Incapacitation c. Retribution d....

HAD509 Written Case Analysis Content and Format (Adapted from: Simendinger, E. (2003). In Search of a Course Design and Teaching Methods to Improve Critical Thinking. Journal of Health Administration...

Reference: FOSSUM.. Labor Relations, 10th Edition. McGraw-Hill Learning Solutions, 2008. VitalBook file. Page 429Chapter Thirteen Union-Management Cooperation Many labor relations practices are...

BMGT 380 - Final Exam Questions for E-resources - Fall 2014 Multiple Choice: 1 point each 1. Sam orally agreed to sell Jamie some land for $500,000. Jamie paid Sam the $500,000; Sam gave Jamie the...

Find the percent of a radioactive sample of half-life 2.35 s that will decay in the next second.

A two stroke Diesel engine has six cylinders in-line. The firing order is 145236. The cylinders are pitched 1.5 m apart except cylinders 3 and 4 which are 1.8 m apart. The reciprocating and revolving...

Compute lim x - > - 2 + ( x + 1 ) ( x + 3 ) ( x + 2 ) ( x + 4 )

only question 1-2 General Questions 1- Explain the input of the estimate costs process plan. 2- Explain the estimate costs techniques and tools 3- What did you learn from this class that you did not...

1. To provide an understanding that social facts are mentally constructed and do not exist as an objective reality.

7. Give examples of the following when you formulate a social problem or phenomenon: a) When you generalize from reality. b) When you choose something from social reality and do not choose some-thing...

5. Give examples of binary thinking.