[Mortuary Blues] Jack and Bianca had a partnership running a…
[Mortuary Blues] Jack and Bianca had a partnership running a mortuary. Bianca died, and after her death, Jack decided to shut down the mortuary. Jack incurred some expenses in closing the business affairs of the mortuary. He sought compensation for those expenses but Gus, the executor of Bianca’s estate, objected. Gus also claimed that Jack had no rights in Bianca’s share of the partnership property and that Gus, the executor, had the right to confiscate her share of the property and sell it at auction. Jack, however, took the position that all interests of Bianca passed to Jack and that Jack owed her estate nothing. The articles of partnership did not address death. Is Jack entitled to compensation for closing down the mortuary?
Read Details[Grooming Grievances] Andrew, Marie, and Cruz formed a partn…
[Grooming Grievances] Andrew, Marie, and Cruz formed a partnership to groom dogs. Because they were good friends and anticipated making a profit sufficient to compensate all partners well, the articles of partnership did not allocate profit or losses. Marie was appointed managing partner. Unfortunately, the business did not go as well as expected and the partnership incurred some losses. Cruz claimed that he should not have to share in losses because he had groomed more dogs than anyone. Cruz also claimed that although the partnership did not reference compensation for additional duties, he was entitled to compensation because of his extensive work. Marie claimed that she should not have to share in losses because she contributed more capital than did either of the others. Andrew claimed that he should not have to cover the losses because both Marie and Cruz had been hiding the books from him. He demanded to inspect the books and also to review a listing of all partnership assets and profit statements listing distributions to partners. Marie and Cruz denied that they had been hiding the books and claimed complete innocence of any wrongdoing. The proper reference for Andrew’s request to review all partnership assets and profit statements listing the distributions to partners is known as a[n] _______.
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