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Rick and Roger entered into a partnership' but they did not write anything down or Slgl'l a contract with each other. They opened a store
Rick and Roger entered into a partnership' but they did not write anything down or Slgl'l a contract with each other. They opened a store and begin selling goods. Rick contributed $80] 000 and Roger contributed $20, 000 to the business. Rick worked 10% of the time, and Roger worked 90% of the time. At the end of the rst year they made $100,000 in prot. They can't agree on how to share the prot. According to the Partnership Act, how is the prot split in this situation? 0 80% to Rick and 20% to Roger because of the proportion of time they actually worked at the store 0 It would depend on the outcome of arbitration that is mandated by the Partnership Act. 0 50% to Roger and 50% to Rick because they didn't agree otherwise and no partnership agreement was signed. 0 90% to Roger and 10% to Rick because at the proportion at time they actually worked at the store
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