Questions from Business Law

Q: Daniel is the owner of a chain of shoe stores. He

Daniel is the owner of a chain of shoe stores. He hires Rubya to be the manager of a new store, which is to open in Grand Rapids, Michigan. Daniel, by written contract, agrees to pay Rubya a monthly s...

Q: Dorinda, Luis, and Elizabeth form a limited partnership. Dorinda

Dorinda, Luis, and Elizabeth form a limited partnership. Dorinda is a general partner, and Luis and Elizabeth are limited partners. Discuss fully whether each of the separate events below constitutes...

Q: Victor Nacim had a checking account at Compass Bank. The “

Victor Nacim had a checking account at Compass Bank. The “Deposit Agreement” required him to report an unauthorized transaction within thirty days of his receipt of the statement on which it appeared...

Q: Karl Horvath, Hein Rüsen, and Carl Thomas formed a partnership

Karl Horvath, Hein Rüsen, and Carl Thomas formed a partnership, HRT Enterprises, to buy a manufacturing plant. Rüsen and Thomas leased the plant to their own company, Merkur Steel. Merkur then sublet...

Q: Patricia Garcia and Bernardo Lucero were in a romantic relationship. While

Patricia Garcia and Bernardo Lucero were in a romantic relationship. While they were seeing each other, Garcia and Lucero acquired an electronics service center, paying $30,000 each. Two years later,...

Q: Dan and Lori Cole operated a Curves franchise exercise facility in Angola

Dan and Lori Cole operated a Curves franchise exercise facility in Angola, Indiana, as a partnership. The firm leased commercial space from Flying Cat, LLC, for a renewable three-year term. The Coles...

Q: Karyl Paxton asked Christopher Sacco to work with her interior design business

Karyl Paxton asked Christopher Sacco to work with her interior design business, Pierce Paxton Collections, in New Orleans. At the time, they were in a romantic relationship. Sacco was involved in ever...

Q: Leisa Reed and Randell Thurman lived together in Spring City, Tennessee

Leisa Reed and Randell Thurman lived together in Spring City, Tennessee. Randell and his father, Leroy, formed a cattle-raising operation and opened a bank account in the name of L&R Farm. Within a fe...

Q: Elliot Willensky and Beverly Moran formed a partnership to buy, renovate

Elliot Willensky and Beverly Moran formed a partnership to buy, renovate, and sell a house. Moran agreed to finance the effort, which was to cost no more than $60,000. Willensky agreed to oversee the...

Q: John, Lesa, and Trevor form a limited liability company.

John, Lesa, and Trevor form a limited liability company. John contributes 60 percent of the capital, and Lesa and Trevor each contribute 20 percent. Nothing is decided about how profits will be divide...