Question: Amy and Lester are partners in operating a store. Without consulting Amy, Lester enters into a contract to purchase $11,600 of merchandise for the store.

Amy and Lester are partners in operating a store. Without consulting Amy, Lester enters into a contract to purchase $11,600 of merchandise for the store. Amy says she did not authorize the order and that she could have purchased the same merchandise for $8,600. Amy refuses to pay for the order. The vendor sues the partners, a. Must the partnership pay for the merchandise? If yes, how much? b. Assuming the partnership is a general partnership, can Amy's personal assets be taken to pay for the merchandise? Complete this question by entering your answers in the tabs below. Required A Required B Must the partnership pay for the merchandise? If yes, how much? Partnership pay for the merchandise RA Required B Amy and Lester are partners in operating a store. Without consulting Amy, Lester enters into a contract to purchase $11,600 of merchandise for the store. Amy says she did not authorize the order and that she could have purchased the same merchandise for $8,600. Amy refuses to pay for the order. The vendor sues the partners. a. Must the partnership pay for the merchandise? If yes, how much? b. Assuming the partnership is a general partnership, can Amy's personal assets be taken to pay for the merchandise? Complete this question by entering your answers in the tabs below. Required a Required B Assuming the partnership is a general partnership, can Amy's personal assets be taken to pay for the merchandise? Can Amy's personal assets be taken to pay for the merchandise?
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
