Gus, Rick, and Larry own and operate GRL Partners, a tax preparation firm. Gus contributed $100,000 in capital and Rick
Posted: Thu Apr 28, 2022 2:37 pm
Gus, Rick, and Larry own and operate GRL Partners, a tax
preparation firm. Gus contributed $100,000 in capital and Rick and
Larry both contributed $50,000. Profits are shared 10:5:5. The
partnership agreement states that all purchases over $2500 must be
authorized by two of the partners, but that only Gus can draw
checks. Rick uses the accounts to buy a new $4500 computer from
Best Buy, and uses the company credit card to buy a $5,000
motorcycle from Ducati, as well as a new iPad for $2750 from Best
Buy. Ducati happens to be a client of GRL Partners, and is familiar
with all three partners on a personal capacity. In the past, Gus
has told all the local Best Buy associates in the past that he is
the only one that is authorized to purchase equipment. Upon arrival
of the purchases, Gus refuses to pay the Best Buy associates for
Rick’s purchases, and refuses Ducati as well. Ducati’s manager,
Pat, then shows up the next day and tries to tell Gus that he needs
to pay for the motorcycle. While Pat was at the GRL office, a GRL
employee drops a 90lb printer on Pat’s leg, breaking it. Pat
screams at Gus, and Gus then pushes Pat into a ditch where he
breaks his foot and ruins his shoes.
Explain the rights of the following participants using the legal
principal that is relevant.
a. Best Buy against GRL.
b. Best Buy against Rick.
c. Ducati against GRL.
d. Ducati against Rick.
e. Pat against GRL.
f. Pat against Gus.
g. GRL against Rick.
preparation firm. Gus contributed $100,000 in capital and Rick and
Larry both contributed $50,000. Profits are shared 10:5:5. The
partnership agreement states that all purchases over $2500 must be
authorized by two of the partners, but that only Gus can draw
checks. Rick uses the accounts to buy a new $4500 computer from
Best Buy, and uses the company credit card to buy a $5,000
motorcycle from Ducati, as well as a new iPad for $2750 from Best
Buy. Ducati happens to be a client of GRL Partners, and is familiar
with all three partners on a personal capacity. In the past, Gus
has told all the local Best Buy associates in the past that he is
the only one that is authorized to purchase equipment. Upon arrival
of the purchases, Gus refuses to pay the Best Buy associates for
Rick’s purchases, and refuses Ducati as well. Ducati’s manager,
Pat, then shows up the next day and tries to tell Gus that he needs
to pay for the motorcycle. While Pat was at the GRL office, a GRL
employee drops a 90lb printer on Pat’s leg, breaking it. Pat
screams at Gus, and Gus then pushes Pat into a ditch where he
breaks his foot and ruins his shoes.
Explain the rights of the following participants using the legal
principal that is relevant.
a. Best Buy against GRL.
b. Best Buy against Rick.
c. Ducati against GRL.
d. Ducati against Rick.
e. Pat against GRL.
f. Pat against Gus.
g. GRL against Rick.