Apply the stockdale paradox

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Reference no: EM132228938

1. Leonard, Ted, and Julius are partners at Jutle Associates. They signed a two-year lease agreement with Property Company for business purposes. Five months into the new agreement, Leonard dissociates from the partnership. Under what circumstances will Leonard no longer be liable on the lease agreement?

a. Leonard gives proper notice to Property Company of his intent to dissociate from Jutle.

b. The three partners and Property Company enter into an appropriate novation agreement.

c. Leonard filed a Statement of Dissociation more than 90 days prior to leaving the partnership.

d. Property Company will not serve to relieve Leonard of liability under the lease agreement.

2. Emmy, Shane, and Rusty are partners of the firm Esha Associates. Rusty nonwrongfully dissociates himself from the partnership. Under these circumstances, Rusty will not be liable to the creditors for the liabilities incurred while he was partner only:

a. if all the partners consent to it.

b. if there is an agreement.

c. if there is a court order.

d. by novation.

3. Hagus was a partner at Ace-Star General partnership. The partnership agreement stated that all partners would continue as partners until the year 2010. However, in 2006, Hagus was offered another business opportunity that was more attractive than remaining a partner with Ace-Star. Following this, he dissociated himself from Ace-Star. Which of the following is true with regard to this situation?

a. Hagus dissolved the Ace-Star General partnership.

b. Hagus used his power to dissociate to withdraw from the partnership.

c. Hagus eliminated his liability to the partnership obligations.

d. Hagus used his right to dissociate to withdraw from the partnership.

4. Apply the "Stockdale Paradox" to each of the following real life business scenarios:

-British Petroleum and the Gulf Oil Spill

-Toyota's recalls and quality issues General Motors and the government bailout

-NFL and the Collective Bargaining Agreement with the NFL Players

-Bank of America Mortgage and the declining housing market

Reference no: EM132228938

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