Two brothers, Eugene and Marlowe Mehl, formed a partnership to operate the family farm One year, Eugene Mehl withdrew $7,200 from the partnership account and bought the Dagmar Bar The warranty deed and the liquor license to the bar were obtained in the names of Eugene Mehl and his wife, Bonnie In a...

Partnership property The bar had been purchase ...

Two brothers, Eugene and Marlowe Mehl, formed a partnership to operate the family farm. One year, Eugene

Question:

Two brothers, Eugene and Marlowe Mehl, formed a to operate the family farm. One year, Eugene Mehl withdrew $7,200 from the account and bought the Dagmar Bar. The warranty deed and the liquor license to the bar were obtained in the names of Eugene Mehl and his wife, Bonnie. In a subsequent lawsuit, Marlowe claimed that the bar was a asset. Decide. [Mehl v. Mehl, 786 P.2d 1173 (Mont.)]
Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...