Solved

Guy and Peggy Bought a Racehorse Together,agreeing to Share All

Question 39

Multiple Choice

Guy and Peggy bought a racehorse together,agreeing to share all expenses and split profits equally.There was no agreement as to the duration of the partnership.After two racing seasons,Peggy decided she was tired of the business and left the partnership.Is Guy correct in claiming Peggy's leaving was wrongful?


A) Yes, Peggy was legally required to secure Guy's permission before leaving the partnership.
B) Yes, Peggy had a legal duty to stay in the partnership unless she had a better reason for leaving, such as impossibility of continuation.
C) Yes, Peggy had a legal duty to stay in the partnership until a new partner could be found.
D) No, in a partnership at will, a partner has the right to leave the partnership at any time.

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