P and B were partners in a travel firm.P wanted to approach their wealthy travel clients and offer to help them to invest in Australia.B said no because he thought the idea was too risky.P secretly went ahead and made a large sum of money over several years.B has found out.He is demanding his share of P's profits.What are B's legal rights?
A) B is not entitled to a share because he said no to the opportunity and refused to take a risk.
B) B is not entitled to a share because P has entered a separate joint venture with their travel clients
C) B is entitled to a share because partners must share any private profits made from opportunities linked to partnership opportunities
D) B is entitled to a share which is equal to the percentage of liability the partnership faces because of P's secret business.
Correct Answer:
Verified
Q10: Which of the following are rights of
Q11: Which of the following statements is not
Q12: The statutory limit on the number of
Q13: An essential element of a partnership is
Q14: In which of the following cases did
Q15: Which of the following is not a
Q16: Which of the following statements are true
Q17: Partnerships are based on:
A)general (common)law.
B)statute law.
C)contract law.
D)all
Q18: A partnership can be automatically dissolved (terminated)if:
A)loans
Q20: Courts sometimes find that a joint venture
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