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Tom and Mara started working together two years ago to provide computer consulting services in their small town. They never discussed the nature of their

Tom and Mara started working together two years ago to provide computer consulting services in their small town. They never discussed the nature of their business (although Tom once stated he had no intention of being Mara's partner), but they shared all profits and decision making. The parties have now had a falling out. Discuss whether Tom and Mara were in a partnership 2. Darrell, Dylan, and Erin have formed a partnership to operate a food truck business offering beverages and bakery products. They formed their association over dinner one night but have never discussed sharing of profits or losses or how management would be conducted. Darrell's original contribution was $7,000, Dylan's was $2,000, and Erin's contribution was the value of her management services. Unless otherwise directed, answer the following questions under both the UPA and the RUPA a. Discuss whether a partnership was formed. b. The business made $20,000 in profit this year. How will this profit be distributed among the parties? Why?..._... c. Although the partnership made $20,000 in profits, it has decided to retain $10,000 in its bank account to save for an additional food truck. How much will each of the individuals declare as income on his or her tax return? Why? - - - d. Erin wishes to transfer her interest in the partnership to her sister Kristina. May she? If so, what are Kristina's rights? Answer under the RUPA... e. The partnership owes $50,000 to Chuck, one of its suppliers but has only $18.000 in its accounts. From what sources may Chucks debt be satisfied? Why?. f. Without the other parties' knowledge or consent, Dylan terminated the business's relationship with its coffee supplier and signed a contract with a new supplier is the business bound by this decision by Dylan? Discuss

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