Question
Diamond, Dallas and Page (DDP) formed a general partnership in 2015. This general partnership is in the business of providing jewelry encrusted stationary for high
Diamond, Dallas and Page (DDP) formed a general partnership in 2015. This general partnership is in the business of providing jewelry encrusted stationary for high end businesses. The partnership formation agreement called for management, profits and decisions to be of equal parts. Diamond was in charge of supply procurement, Dallas was in charge of sales and customer service and Page was in charge of distribution and product delivery.Everything was fine until in late 2020, when it was discovered that Dallas was the sole proprietor of a business known as Esmeraldes Pagina and was redirecting all Spanish speaking accounts away from DDP. Diamond and Page have come to you for advice. Additionally, Page indicates that he wants to retire from the firm and simply hand over his portion to his daughter Stationary who has acted as a regional distribution manager for the partnership for 2 years. Diamond has quietly indicated that he is not interested in being in business with Stationary as a full partner. Discuss all issues and provide advice to the appropriate parties.
it is complete
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