Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

You and your friend, Sam decided to open an coffee shop together. You did not give much thought as to how you would structure your

You and your friend, Sam decided to open an coffee shop together. You did not give much thought as to how you would structure your business relationship. Which of the following is true with respect to your legal position?
Question 15 options:
If a customer were injured because of poorly kept food served at the coffee shop and Sam did not have the assets to pay his half, you would only have to pay for his half of the damages suffered.
If Sam opens up another coffee store in another mall in a nearby city without telling you, he must share any profits he makes with you.
You and Sam are not in a partnership since they have not specifically agreed to be.
If Same were to find a great deal on coffee beans and purchased 2000 litres of it, only Sam would be liable for the debt incurred as a result of the purchase.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Students also viewed these General Management questions