In 2002, Hammer and Wallace entered into a partnership for the purpose of raising hogs The two men agree to share equally all costs, labor, losses, and profits The business was started on land owned initially by Hammer parents but later acquired by Hammer and his wife No rent was ever requested or paid for use of the land Partnership funds were used to bulldoze and clear the land, to repair and build fences, and to seed and fertilize the land In 2006, at a cost of $3,500, a machine shed was built on the land In 2008, a Cargill unit was built on the land at a cost of $8,000 When the partnership dissolved in 2012, Wallace paid Hammer $7,500 for the removable assets however, the two had no agreement regarding the distribution of the barn and the Cargill unit Is Wallace entitled to one half of the value of the two buildings Explain Paula and Mike jointly own shares of stock of a corporation, have a joint bank account, and have purchased and own as tenants in common a piece of real estate They share equally the dividends paid on the stock, the interest on the bank account, and the rent from the real estate Without Paula's knowledge, Mike makes a trip to inspect the real estate and on his way runs over Wilbur Wilbur sues Paula and Mike for his personal injuries, joining Paula as defendant on the theory that Paula was Mike's partner Is Paula a partner of Mike Oppson was the agent authorized to sell stock of the AAA Company at $10 per share and was authorized in case of sale to fill in the blanks in the certificates with the name of the purchaser, the number of shares, and the date of sale He sold 100 shares to Barnes, and without the knowledge or consent of the company and without reporting to the company, he indorsed the back of the certificate as follows It is hereby agreed that AAA Company shall, at the end of three years after the date, repurchase the stock at $13 per share on thirty days' notice AAA Company, by Oppson After three years, demand was made on AAA Company to repurchase The company refused the demand and repudiated the agreement on the ground that the agent had no authority to make the agreement for repurchase Is AAA Company liable to Barnes Explain

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In 2002, Hammer and Wallace entered into a partnership for the purpose of raising hogs. The two men agree to share equally all costs, labor,

In 2002, Hammer and Wallace entered into a partnership for the purpose of raising hogs. The two men agree to share equally all costs, labor, losses, and profits. The business was started on land owned initially by Hammer parents but later acquired by Hammer and his wife. No rent was ever requested or paid for use of the land. Partnership funds were used to bulldoze and clear the land, to repair and build fences, and to seed and fertilize the land. In 2006, at a cost of $3,500, a machine shed was built on the land. In 2008, a Cargill unit was built on the land at a cost of $8,000. When the partnership dissolved in 2012, Wallace paid Hammer $7,500 for the removable assets; however, the two had no agreement regarding the distribution of the barn and the Cargill unit. Is Wallace entitled to one-half of the value of the two buildings? Explain.

Paula and Mike jointly own shares of stock of a corporation, have a joint bank account, and have purchased and own as tenants in common a piece of real estate. They share equally the dividends paid on the stock, the interest on the bank account, and the rent from the real estate. Without Paula's knowledge, Mike makes a trip to inspect the real estate and on his way runs over Wilbur. Wilbur sues Paula and Mike for his personal injuries, joining Paula as defendant on the theory that Paula was Mike's partner. Is Paula a partner of Mike?

Oppson was the agent authorized to sell stock of the AAA Company at $10 per share and was authorized in case of sale to fill in the blanks in the certificates with the name of the purchaser, the number of shares, and the date of sale. He sold 100 shares to Barnes, and without the knowledge or consent of the company and without reporting to the company, he indorsed the back of the certificate as follows:

It is hereby agreed that AAA Company shall, at the end of three years after the date, repurchase the stock at $13 per share on thirty days' notice. AAA Company, by Oppson.

After three years, demand was made on AAA Company to repurchase. The company refused the demand and repudiated the agreement on the ground that the agent had no authority to make the agreement for repurchase. Is AAA Company liable to Barnes? Explain.