Solved

Three Men Decided to Form a Partnership to Look for Buried

Question 20

Multiple Choice

Three men decided to form a partnership to look for buried treasure.Luke and Mark had expensive equipment,experience,and expertise,but the third partner,Cyrus,had a treasure map.Cyrus had his holidays start a few days earlier than the other two,so he went ahead "to set up camp." Lo and behold,before the others arrived,Cyrus found the treasure.So when Luke and Mark arrived,he immediately dissolved the partnership and claimed the entire treasure for himself.Do Luke and Mark have any legal claim to the treasure?


A) Yes,they have a fiduciary duty to take their share.
B) No,they don't,because Luke and Mark's assets were not used to find the treasure.
C) Yes,they do,because the treasure was found before the partnership was dissolved.
D) No,they don't,because the partnership was dissolved before the treasure was made known.
E) Yes,they do,because Cyrus has both possession and the upper hand.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents