Business Law

1. Problem: A, B, and C formed a partnership under the following terms and conditions: a. Participation A=40%, B=40%, C=20% b. A and B should supply the entire capital. C would contribute his management expertise and be the manager for the first five years without compensation. c. C shall not be liable for losses. After one year of operation the partnership became bankrupt. 1. Could A alone, opposed by B and C have C removed as manager? Why? 2. Could C personally be held liable for creditors of the partnership not satisfied with the assets of the partnership? Why