Paula and Elaine decide to go into business selling handmade crafts and goods through their web site Country Products. They sign a partnership agreement that requires Paula to contribute $12,000 and Elaine to contribute $8,000 in capital to start the firm. The agreement also states that only Paula will have the authority to bind the partnership in deals with third parties, but the agreement says nothing about the management of the firm or the division of profits. Without Paula's knowledge, Elaine tells Vermont Country Store that she represents the firm and signs a contract with Vermont Country Store to buy old -fashioned goods for resale at Country Products' website. In the first year, Country Products makes a profit of $150,000. What are the partners' rights with respect to the management of the firm? Is the partnership bound to the contract with Vermont Country Store? Do the partners split the first year's profits? If so, how much is each partner entitled to?