(Partnership duties and rights)

1.Delta, Echo and Foxtrot, following a minor pools win, decide to buy and operate a newsagency in Railway Estate.The venture is to be financed by their winnings and each of them is to devote 30 hours per week to the business of the newsagency.

Discuss the consequences of each of the following scenarios and the options open to the parties affected:

(a)Six months after the purchase of the newsagency, Delta and his wife purchase an interest in a newsagency at Cranbrook;

(b)After a falling out, Delta and Echo refuse to have anything to do with Foxtrot;

(c)Echo becomes involved with a disastrous share speculation scheme as a result of which, it appears, he shall go bankrupt;

(d)Foxtrot is violently opposed to the display and sale of "pornographic" magazines.The others are adamant that the business continue to offer them for sale.

(e)Foxtrot, concerned about the profligate spending of the others, decides to terminate their relationship.He wishes to do so in such a way that he cannot be liable for any future debts.