Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Legal Reasoning Group Activity 37-10. Liability of Partners. At least six months before the Summer Olympic Games in Atlanta, Georgia, Stafford Fontenot and four others
Legal Reasoning Group Activity 37-10. Liability of Partners. At least six months before the Summer Olympic Games in Atlanta, Georgia, Stafford Fontenot and four others agreed to sell Cajun food at the games and began making preparations. On May 19, the group (calling themselves "Prairie Cajun Seafood Catering of Louisiana") applied for a business license from the county health department. Later, Ted Norris sold a mobile kitchen to them for $40,000. They gave Norris an $8,000 check drawn on the "Prairie Cajun Seafood Catering of Louisiana" account and two promissory notes, one for $12,000 and the other for $20,000. The notes, which were dated June 12, listed only Fontenot "d/b/a Prairie Cajun Seafood" as the maker (d/b/a is an abbreviation for "doing business as"). On July 31, Fontenot and his friends signed a partnership agreement, which listed specific percentages of profits and losses. They drove the mobile kitchen to Atlanta, but business was "disastrous." When the notes were not paid, Norris filed a suit in a Louisiana state court against Fontenot, seeking payment. (See Formation and Operation.) a. The first group will discuss the elements of a partnership and determine whether a partnership exists among Fontenot and the others. b. The second group will determine who can be held liable on the notes and why
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started