Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1 . June and April have a partnership. They have no agreement regarding profits, but they have a written agreement that states that they will

1.June and April have a partnership. They have no agreement regarding profits, but they have a written agreement that states that they will share losses 75-25, whereby June will pay 75% of the losses and April will pay 25% of the losses. June has contributed $100,000 to the partnership, and April has contributed $50,000 to the partnership. If June and April's partnership earns $1 million in 2022, and the two partners argue over how much each partner may receive, the court applying RUPA will order that
A) June will receive $950,000 and April will pay $50,000
B) June will receive $750,000 and April will receive $250,000
C) June will receive $250,000 and April will receive $750,000
D) June will receive $500,000 and April will receive $500,000
2.In Lindh v. Surman, where the parties disagreed, is:
A)(1) what is the purpose of a gift (i.e., a birthday gift or an anniversary gift), and (2) whether the age of the donor is relevant to determining return of the ring.
B)(1) what is the condition of the gift (i.e., acceptance of the engagement or the marriage itself), and (2)
whether fault is relevant to determining return of the ring.
C)(1) what is the purpose of a gift (i.e., a graduation gift or an anniversary gift), and (2) whether the wealth of the donor is relevant to determining return of the ring.
D)(1) what is the cost of a gift (i.e., less than $10,000 or more than $10,000), and (2) whether the wealth of the donee is relevant to determining return of the ring.
3.The court in Zimmerman v. Allen (2011) determined that the law in ______ applied, specifically finding that as long as the instrument's testamentary terms are clear, a court may not decline to admit the will to probate simply because other terms are indefinite.
A) In re Sogeti's Estate (Ariz 2008)
B) In re Harris' Estate (Ariz 1931)
C) Zimmerman v. Miller's Estate (Pa 2011)
D) In re Kelo's Estate (Ariz 2012)
4.The court ruled in favor of Eric Dare in the Housemen v. Dare (2009) case because the court found that another dog could just be purchased and therefore, specific performance was unwarranted.
A) True
B) False

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Information Technology Project Management

Authors: Kathy Schwalbe

6th Edition

978-111122175, 1133172393, 9780324786927, 1111221758, 9781133172390, 324786921, 978-1133153726

More Books

Students also viewed these General Management questions