Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 45 2 pts Ricky and Lucy form a partnership, Rick invests $80,000 and Lucy $20.000, They do not have a written partnership agreement, After

image text in transcribed
Question 45 2 pts Ricky and Lucy form a partnership, Rick invests $80,000 and Lucy $20.000, They do not have a written partnership agreement, After being in business only four months, Fred offers Lucy $1.000.000 for the partnership. Ricky agrees and Fred gives Lucy a check for $1,000,000. Lucy then gives Ricky a check for $500.000. Ricky is angry and demands an additional $300,000, In a suit Lucy wires as they are presumed equal partners Lucy wins if the can prove Ricky agreed to take half Ricky wine because be invested Bok of the initial capital contribution Ricky wires an under the Revised Uniform Partnership Act he is not a 50-50 partner, Question 46 2 pts Peter has agreed to sell his business to Globo Enterprises, Globo is a publicly traded corporation. The next day, Peter suddenly has significant funds and purchases a controlling stake of stock shares in Globo. The President and CEO of Globo objects. Peter as a controlling shareholder can exercise control over the objection of the president Peter must will get approval of the President Pater cannot control Globo without approval of the Board of Directors Because Peter received his money from gambling, he cannot take control of Globo

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

Morality And The Law

Authors: Roslyn Muraskin, Matthew Muraskin

1st Edition

013916958X, 9780139169588

More Books

Students also viewed these Law questions

Question

=+a. 5 percent increase in profits over the previous year

Answered: 1 week ago

Question

What does backwardation indicate?

Answered: 1 week ago