Carried on business in partnership

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Reference no: EM132230176

Written Group Case Assignment

Case 1 of the Case Problems for Discussion at Page 300 of the Willes textbook

(see full case below)

FULL TEXT OF ASSIGNED CASE:

“Earl, Louise, and Erik carried on business in partnership for many years under the firm name ELE Sales. The partnership was registered under the provincial partnership registration legislation. Earl and Louise were the two partners that dealt with customers and suppliers, and Erik worked for the most part out of sight of everyone in a back office where he did the bookkeeping for the business.

“Erik eventually retired, leaving the business without informing either customers or suppliers. Earl and Louise carried on the business for another few years, but without the management skills of Erik, the business ran into financial difficulties. Earl and Louise decided to close the business, and paid most of the creditors. The remaining creditors now wish to take action to recover their debts.

“Advise the creditors.”

Reference no: EM132230176

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