Brown was a wholesale insurance broker, a middleman between retail insurance agents and insurance companies. He worked
Question:
IBS fired Brown after a year, claiming he mishandled accounts. He was offered severance pay, but rejected it. He sued, contending that he had been wrongfully expelled from the Houston Team One partnership. The district court held for IBS and Galtney; Brown appealed.
1. The appeals court affirmed that no partnership was ever created; Brown was an employee. Since Brown and Galtney made up the Houston office and operated on a commission basis, why would Brown not have a partnership claim, even though he shared in profits?
2. How could Brown have made sure he was considered a partner?
Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
The Legal Environment of Business
ISBN: 978-0538473996
11th Edition
Authors: Roger E Meiners, Al H. Ringleb, Frances L. Edwards
Question Posted: