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Jamie, Harrison and Raine are good froemds who decide to start up an online shopping website. JHR Fashions as a partnership. Their business sells second
Jamie, Harrison and Raine are good froemds who decide to start up an online shopping website. JHR Fashions as a partnership. Their business sells second hamd designer clothing. The friends decide that Jaime and Harrison each have an IT background they will be responsible for the technical side of developing the software that runs the website. Raine a fashion designer by proffession is responsible for buying second hand designer clothing from seletected suppliers in Melbourne. The partnership agreement limits Raine to purchasing clothes up to $10000 of any single transaction. The partnership agreement comfirms that Raine is the only partner with authority to purchase stock.
During the easter holidays jamie visits his sister in sydney who owns a designer clothing shop. she shows him an overstock of handbags and shoes in her shop and she says look these atr new and in fashion i can give them to you at a cost price of $30000 since they are overstock amd only that youre my little brother. When the stock and invoice arrive raine and harrison are furious that they were not consulted. they refuse to pay the invoice. Raine based on his proffessional expertees does noy believe that the items are fashionable and does not believe that the partnership business will be able to sell them.
Are Harrison and Raine liable to pay the $30000 invoive for the stock purchased by Jaime according to the law of partnerships?
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