Business Partnership: Learning Activity
Week 7
Learning Activity
1. Was the relationship among Grace and her sons a partnership for a term or a partnership at will? Grace Tengalhat and her sons, Manny and Jason verbally agreed to share the business for five years. “Partnership for a term is a partnership that exists for a specified duration or until a specified event occurs,” (uslegal.com), since they agreed for five years, this is a partnership for term. A partnership at will is when a partnership is made with no fixed term.
2. Did Manny have the authority to hire additional laborers to work at the ranch after his injury? Why or why not?
Yes, because this is consider a general partnership where the partners can run the business the way they want. Also it was agreed upon that Manny would handle the livestock. Since he got hurt, it was up to him to find a solution. Now if Jason tired to hire laborers in would be in a disagreement with the other partners about how they decided to run the business, because Jason is in charge of the bookkeeping.
3. Under the UPA, can Al’s Feed Barn bring an action against Jason individually for Cowboy Palace’s debt? Why or why not?
Yes, under the UPA a partner may be sued individually for all the damages associated with a wrongful act, (legal-dictionary.com). So Al’s Feed Barn could file a lawsuit against just Jason because he was in charge of the bookkeeping. Al’s Feed Barn could also bring a lawsuit to the entire partnership as well. Since in a partnership each partner is jointly liable within the partnership.
4. Suppose that after his back injury in 2011, Manny sent his mother and brother a notice indicating his intent to withdraw from the partnership. Does that mean he could not be held liable for the debt to Al’s Feed Barn? Why or why not?
Yes, a person who leaves a partnership may still be liable for any debts the firm builds up after they leave. However, they will not be liable if, they notify creditors, customers, and the other partners and file a
Learning Activity
1. Was the relationship among Grace and her sons a partnership for a term or a partnership at will? Grace Tengalhat and her sons, Manny and Jason verbally agreed to share the business for five years. “Partnership for a term is a partnership that exists for a specified duration or until a specified event occurs,” (uslegal.com), since they agreed for five years, this is a partnership for term. A partnership at will is when a partnership is made with no fixed term.
2. Did Manny have the authority to hire additional laborers to work at the ranch after his injury? Why or why not?
Yes, because this is consider a general partnership where the partners can run the business the way they want. Also it was agreed upon that Manny would handle the livestock. Since he got hurt, it was up to him to find a solution. Now if Jason tired to hire laborers in would be in a disagreement with the other partners about how they decided to run the business, because Jason is in charge of the bookkeeping.
3. Under the UPA, can Al’s Feed Barn bring an action against Jason individually for Cowboy Palace’s debt? Why or why not?
Yes, under the UPA a partner may be sued individually for all the damages associated with a wrongful act, (legal-dictionary.com). So Al’s Feed Barn could file a lawsuit against just Jason because he was in charge of the bookkeeping. Al’s Feed Barn could also bring a lawsuit to the entire partnership as well. Since in a partnership each partner is jointly liable within the partnership.
4. Suppose that after his back injury in 2011, Manny sent his mother and brother a notice indicating his intent to withdraw from the partnership. Does that mean he could not be held liable for the debt to Al’s Feed Barn? Why or why not?
Yes, a person who leaves a partnership may still be liable for any debts the firm builds up after they leave. However, they will not be liable if, they notify creditors, customers, and the other partners and file a