Mark and James established a partnership to deal in textiles. Both of them contributed equal capital to the partnership. However, two years later James sold his share of the firm to Mike. Which of the following is permissible?
A) Mark can recover damages from James for selling his interest in the partnership
B) Mike can claim nondisclosure and reclaim the money from James.
C) Mark can recover damages from Mike for buying the James' share.
D) ?James is entitled to keep the money he received from Mike.
D
You might also like to view...
Pricing across a product mix is difficult because various products have related demand and costs, and products face different degrees of competition
Indicate whether the statement is true or false
A finder who refuses to return a lost property to the loser is liable for the tort of conversion
Indicate whether the statement is true or false
Which of the following is NOT a characteristic of the corporate form of doing business?
a. Limited liability. b. Perpetual existence. c. Informal organization. d. Transferability of corporate shares.
An increase in sales price per unit decreases the contribution margin per unit
Indicate whether the statement is true or false