Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

John Bickley frequently ate lunch at a Mexican restaurant where Carlos Mendez and Jose Manuel worked. Bickley told Mendez and Manuel that the business where

John Bickley frequently ate lunch at a Mexican restaurant where Carlos Mendez and Jose Manuel worked. Bickley told Mendez and Manuel that the business where he worked, a motorcycle repair shop, was going out of business, and he suggested that they might want to help him open a new motorcycle repair shop. The three men signed a 2-year lease on a building for the shop. Mendez and Manuel paid the security deposit and first month's rent for the building. They also gave Bickley some money, when he asked for it, to buy inventory for the shop and get it ready for business. Soon after the shop opened, Mendez and Manuel asked for keys to the building. Bickley refused to give them keys. They asked to see his receipts and invoices; he refused. They asked to work at the shop; he refused. They demanded a written agreement with Bickley about the money they had given him; he refused. They hired a lawyer, who sent a demand letter on their behalf to Bickley. Bickley did not respond. Eventually Mendez and Manuel filed suit against Bickley for a return of the funds they had given him. Bickley counterclaimed for "breach of contract by his partners."

Did the three men have a partnership? Discuss whether a partnership was created under the Revised Uniform Partnership Act.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Applied Quantitative Finance

Authors: W.; T. Kleinkow; G. Stahl Hardle

1st Edition

3540434607, 978-3540434603

More Books

Students also viewed these Finance questions