Best Aviation Associates is a general partnership engaged in the business of buying, selling and servicing used airplanes. Best's original partners were Martin and Kent. They formed the partnership on January 1, 1992, under an oral partnership agreement which provided that the partners would share profits equally. There was no agreement as to how the partners would share losses. At the time the partnership was formed, Martin contributed $320,000 and Kent contributed $80,000. On December 20, 1993, Kent assigned Kent's partnership interest in Best to Green. On December 31, 1993, Kent advised Martin of the assignment to Green. On January 11, 1994, Green contacted Martin and demanded to inspect the partnership books and to participate in the management of partnership affairs, including voting on partnership decisions. On January 13, 1994, it was determined that Best had incurred an operating loss of $160,000 in 1993. Martin demanded that Kent contribute $80,000 to the partnership to account for Kent's share of the loss. Kent refused to contribute. On January 28, 1994, Laco Supplies, Inc., a creditor of Best, sued Best and Martin for unpaid bills totaling $92,000. Best had not paid the bills because of a cash shortfall caused by the 1993 operating loss. Martin has taken the following positions: Green is not entitled to inspect the partnership books or participate in the management of the partnership. Only the partnership is liable for the amounts owed to Laco, or, in the alternative, Martin's personal liability is limited to 50% of the total of the unpaid bills. . Kent has taken the following positions: Only Martin is liable for the 1993 operating loss because of the assignment to Green of Kent's partnership interest. . Any personal liability of the partners for the 1993 operating loss should be allocated between them on the basis of their original capital contributions. Required: a. b. Determine whether Martin's positions are correct and state the reasons for your conclusions. Determine whether Kent's positions are correct and state the reasons for your conclusions.