Case Studies and Analysis

Background 1.

Sam, Henry, Paul, and Allen are Trent University students. In their studies, the students discovered the existence of Georgian Bay, which may be having treasure. They agree to research about it, setting 100 hours each for the research. A specific geographic area is chosen for the search. Since all of them have scuba diving skills, they proceed with the research. After renting a boat and using their personal scuba gears, they venture in the identified region. The partners are involved in the activities; all of them pay an equal amount of boat rent in addition to other charges. They uphold the requirements for the first four weeks. Sam and Henry engage in other commitments from the fifth to the eighth weekend while Allen and Paul go on with the research. Allen goes on with the research alone on the ninth week. For security purposes, a friend accompanies him. During the period, they discover the treasure, which apparently has not been claimed by the government. The treasure is estimated to be worth twenty million dollars.

(Adapted from https://www.globalcompose.com/)

1. Based on the situation that exists above, briefly state what are the requirements of the members of a partnership. (2 marks)

2. With the consent of others, the two friends carried on. However, Allen did not inform or involve the original parties when he was involving his friend on the last day.

A. What issues concerning "rights and obligations" need to be examined in light of what has transpired? (4 marks)

B. To what extent, if any at all would a partnership deed provide any form of assistance to remedy the division of the treasure found? (4 marks)