Reference no: EM131389666
Albert, Betty, and Carol own and operate the Roy Lumber Company, a limited liability partnership (LLP). Each contributed one-third of the capital, and they share equally in the profits and losses. Their LLP agreement provides that all purchases over $2,500 must be authorized in advance by two partners and that only Albert is authorized to draw checks. Unknown to Albert or Carol, Betty purchases on the firm's account a $5,500 diamond bracelet and a $5,000 forklift and orders $5,000 worth of logs, all from Doug, who operates a jewelry store and is engaged in various activities connected with the lumber business.
Before Betty made these purchases, Albert told Doug that Betty is not the log buyer. Albert refuses to pay Doug for Betty's purchases. Doug calls at the mill to collect, and Albert again refuses to pay him. Doug calls Albert an unprintable name, and Albert then punches Doug in the nose, knocking him out.
While Doug is lying unconscious on the ground, an employee of Roy Lumber Company negligently drops a log on Doug's leg, breaking three bones. The firm and the three partners are completely solvent. What are the rights of Doug against Roy Lumber Company, Albert, Betty, and Carol?
How should given assets be distributed
: If Bushmill Ventures had been formed as a limited liability company with Gordon, Daniels, and McKenna as members, how should these assets be distributed?
|
What are the four types of quality costs
: What are the four types of quality costs? Under which quality-cost category does the cost of enhancing the proofing process as described above fall?
|
Design a mosfet circuit with zero bias
: Design a MOSFET circuit with zero bias using a 2N3797 that operates from a +9 V dc supply and produces a VDS of 4.5 V. The maximum current drawn from the source is to be 1 mA.
|
Why do we study international juvenile justice
: For this assignment, you will assume the role of a researcher for a nonprofit that examines international juvenile justice systems and/or youth violence. The nonprofit has asked that you complete a profile of two countries (use two of those discus..
|
What are the rights of doug against roy lumber company
: The firm and the three partners are completely solvent. What are the rights of Doug against Roy Lumber Company, Albert, Betty, and Carol?
|
Does zynga charge its customers to play the companys games
: Does Zynga charge its customers to play the company's games? How does Zynga earn revenue? In your own words, explain how Zynga records revenue from the sale of virtual goods?
|
Net marginak benefit of purchasing each incremental unit
: At the Rady Computer Corp (RCC), a major product is the power supply. RCC's unit cost to manufacture this item is $900, while its selling price is $1250. However, if the power supply does not sell at retail, it can be sold at a discount of $850 per u..
|
Is dr vidricksen a general partner
: At this time, the business developed financial difficulties and went into bankruptcy on September 11. Eight days later, Vidricksen filed a renunciation of the business's profits. Is Dr. Vidricksen a general partner?
|
What are growers rights against arthur
: The business subsequently failed. What are Grower's rights, if any, against Arthur, Barbara, Carl, and Debra as individuals?
|