Questions from Business Law

Q: Horn’s Crane Service furnished supplies and services under a written contract to

Horn’s Crane Service furnished supplies and services under a written contract to a partnership engaged in operating a quarry and rock-crushing business. Horn brought this action against Prior and Cook...

Q: Cutler worked as a bartender for Bowen until they orally agreed that

Cutler worked as a bartender for Bowen until they orally agreed that Bowen would have the authority and responsibility for the entire active management and operation of the tavern business known as th...

Q: In 2005, Gauldin and Corn entered into a partnership for the

In 2005, Gauldin and Corn entered into a partnership for the purpose of raising cattle and hogs. The two men were to share equally all costs, labor, losses, and profits. The business was started on la...

Q: On December 15, Judy wrote a letter to David stating that

On December 15, Judy wrote a letter to David stating that she would sell to David all of the mine-run coal that David might need to buy during the next calendar year for use at David’s factory, delive...

Q: Albert, Betty, and Carol own and operate the Roy Lumber

Albert, Betty, and Carol own and operate the Roy Lumber Company. Each contributed one-third of the capital, and they share equally in the profits and losses. Their partnership agreement provides that...

Q: Hanover leased a portion of his farm to Brown and Black,

Hanover leased a portion of his farm to Brown and Black, doing business as the Colorite Hatchery. Brown went upon the premises to remove certain chicken sheds that he and Black had placed there for ha...

Q: Martin, Mark, and Marvin formed a retail clothing partnership named

Martin, Mark, and Marvin formed a retail clothing partnership named M Clothiers and conducted a business for many years, buying most of their clothing from Hill, a wholesaler. On January 15, Marvin re...

Q: Ben, Dan, and Lilli were partners sharing profits in proportions

Ben, Dan, and Lilli were partners sharing profits in proportions of one-fourth, one-third, and five-twelfths, respectively. Their business failed, and the firm was dissolved. At the time of dissolutio...

Q: Ames, Bell, and Cole were equal partners in the ABC

Ames, Bell, and Cole were equal partners in the ABC Construction Company. Their written partnership agreement provided that the partnership would dissolve upon the death of any partner. Cole died on J...

Q: The articles of partnership of the firm of Wilson and Company provide

The articles of partnership of the firm of Wilson and Company provide William Smith to contribute $50,000; to receive interest thereon at 13 percent per annum and to devote such time as he may be able...