What are the rules regarding the expulsion of a partner from the partnership?
Q: Revised Uniform Partnership Act
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A: In the scenario presented, Matthew, Mark, and Luke, three auto mechanics, have established a private…
Q: Among three partners, unless they agree otherwise, unanimous consent is required to manage the…
A: In a business or organizational context, unanimous consent means that all parties or members…
Q: Which legal form of business will allow the perpetual operation of a business? Choose one answer.…
A: At the point when you start a business, you should choose a lawful structure for it. Normally you'll…
Q: explain the circumstances under which each of the following type of ownership would be most…
A: Joint tenancy is a type of ownership that allows multiple individuals to own a property together.…
Q: 27. Are partners considered employees or are they self- of a partnership employed?
A: In a partnership, individuals come together to share ownership, profits, work, responsibility, and…
Q: The fiduciary duties of partners have been incorporated into which sections of the Partnership Act…
A: Partners in a business have a special relationship with each other, based on trust and confidence.…
Q: In Salomon v Salomon it was held that following a proper incorporation, the company becomes a legal…
A: Please find the answer below.Separate legal personality :- A key concept in company law known as…
Q: Ho, Io, and Jo formed an ordinary partnership, called 3OS, some 5 years ago. Question Ho is a…
A: Question 1:Ho, Io, and Jo formed an ordinary partnership, called 3OS, some 5 years ago. Question:Ho…
Q: In a partnership a partner who is unknown to the other partners yet participates in the running of…
A: A partner can provide a fledgling or expanding business with knowledge, commercial contacts, and…
Q: What is the effect of a merger agreement consummated in violation of the requirements on mandatory…
A: Mergers and acquisitions have become commonplace in the business world, helping organisations to…
Q: Discuss the various duties, responsibilities, and liabilities of the Principal-Agent…
A: The Principal-Agent relationship is a basic commercial and legal term that depicts a situation in…
Q: Dennis is the oldest among the four shareholders and is in the poorest health. He is concerned that…
A: The objective of the question is to identify the type of transfer restriction that is being…
Q: describing a Limited Liability Company (LLC) business that would created. Indicate a specific…
A: A limited liability company (LLC) is a business entity for private companies in the United States,…
Q: Was it good for Jacoby, Meyers, and Koff to set up a general partnership for their Jacoby & Meyers…
A: In the legal world, the structure of a law firm can significantly impact its operations,…
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- Wiener Haus #82 has been underperforming for a few years. The franchisee (owner of Haus #82) is frustrated and files a claim against the franchisor for breach. The franchisee claims that the agreement he signed contained a statement at the start of the agreement detailing that the business model the franchisor developed was "proven effective and profitable." On these facts, does the franchisee have a winning breach of contract claim against the franchisor? O No, the contract formed was a voidable contract. Thus, the franchisor is void of responsibility if the business model does not produce profit for the franchisee. O Yes, the franchisee relied on these statements when deciding to contract and thus the franchisor should be responsible when the business model fails to work for the franchisee. O No, courts have generally held that the type of language relied upon by the franchisee is "prefatory" and does not create a duty on the part of the franchisor. O Yes, the money paid to the…Identify five reasons why a partnership may be dissolved.Is the rule that franchisors are not liable for the torts of a franchisee fair?
- How exactly a limited partner can lose the limited partner status and become a general partner with unlimited liability? Can you think of any relevant case law? (accorning to canadian law)State the mutual rights of partners of a Limited Liability Partnership Firm in the absence of any agreement between the partners.24. When determining whether a partnership exists, which of the following factors would a court consider? Group of answer choices A. Whether the organization intended to make a profit B. Were the participants involved in the management of the business? C. Did the participants have an agreement? D. All of the above
- Joseph, a shareholder, wishes to sell his shares and has received an offer from Peter, who is not a shareholder, to buy shares well above the original price. Melissa, an existing shareholder, is adamant that she should be allowed to purchase Joseph’s shares at the original price. Joseph is the only shareholder who currently holds less than 5% of the shares of Spades Limited Advise Karen and Melissa.Compare the liability of the owners of partnerships, sole proprietorship, and corporations. Please explainIf within 60 days from the approval of corporation action by stockholders, the dissenting stockholder and the corporation cannot agree on the fair value of the shares, who shall determine the price of shares? * Three disinterested persons, one named by the stockholder, another named by the corporation and the third chosen by the two whose decision by majority is binding and final The dissenting shareholder The Securities and Exchange commission The Commercial Court