Comment on the validity of the introduction

Assignment Help Management Theories
Reference no: EM13655493

Sam is the managing partner of a firm where the other partner, Mike, is dormant. The Articles of Partnership provide that "a partner acting in the partnership business shall be entitled to reasonable remuneration".

Sam, a month ago, in annoyance, introduced Alfred as a new managing partner following Mike's refusal to sign cheques for Sam's salaries on the ground that Section 6 of the Partnership Act provides that "no partner shall be entitled to remuneration for acting in the partnership business."

Required:

(a) Comment on the validity of the introduction by Sam of a new managing partner.

(b) Is Mike right in refusing to sign cheques for Sam's salaries? Explain.

Would the answer to (b) above be different if there was no Partnership Agreement between the parties? Give reasons.

 

 

Reference no: EM13655493

Questions Cloud

Explain what will be the volume occupied by an ideal gas : What will be the volume occupied by an ideal gas at 75kPa after it has expanded from 10.0 L and 145kPa at constant temperature
Evaluate what frequency is needed : A string, fixed at both ends,vibrates at a frequency of 12 Hz with a standing transverse wavepattern containing 3 loops. What frequency is needed
Explain the term personal representative : Explain the term, Personal representative.
Explain an exothermic or endothermic reaction : A chemical reaction occurs and absorbs 1720 J. How many calories is this? Is it an exothermic or endothermic reaction
Comment on the validity of the introduction : Comment on the validity of the introduction by Sam of a new managing partner.
What is the pressure at the valve : Water flows through a horizontal pipe of cross-sectional area10.0 cm^2 at a pressure of 0.250 atm. What is the pressure at the valve
Explain the pressure of the gas under the new conditions : A sample of an ideal gas at 0.93atm and 25oC occupied a volume of 17.3L. This gas was transferred to a 3.7L container without a temperature change. What was the pressure of the gas under the new conditions
Propriety of choosing the name kts building society limited : Advise the parties on the propriety of choosing the name KTS Building Society Limited.
Describe the value that you derive from brand : Please select a brand that you are familiar with, and describe the value that you derive from this brand. What needs does it fulfill? How is it differentiated from competing brands?

Reviews

Write a Review

Management Theories Questions & Answers

  Discuss ethanol as a transportation fuel

In 2-3 pages, using APA-style formatting, discuss ethanol as a transportation fuel. Identify at least three advantages and three disadvantages of its use.

  Why is each type considered a corrupt practice

1. Why is each type considered a corrupt practice?

  Propose the a fore mentioned proposals for the consideratio

Propose the a fore mentioned proposals for the consideration at the meeting

  Areas of potential disagreement among members

Within a company there are many areas of potential disagreement among members. As the range of potential disagreement is very broad, so also is the scope for exploitation and abuse of minority shareholders within the company. However, it is in the sm..

  Question 1i what is meant by distribution channel

question 1i what is meant by distribution channel structure and draw 5 levels structure? ii explain the levels

  Creating a customer database for the modesto nuts

You are creating a customer database for the Modesto Nuts minor league baseball team. Draw a project network given the information below. Complete the forward and backward pass, compute activity slack, and identify the critical path.

  Corporations different from publicly traded corporations

How are closely held corporations different from publicly traded corporations

  Buddy also purchases homes that need renovation and then

discussion question part iselect one of the scenarios below and explain the best solution. list possible alternatives

  Compare and contrast exporting, management contracting

Compare and contrast exporting, management contracting and joint venturing as approaches to international market entry. If you wanted to expand your successful solar panel business to Mexico which approach would you use, and why?

  Examine the invention and growth of crowdsourcing in the

crowdsourcing in the field of interface design takes tasks traditionally performed by specific individuals and spreads

  Job satisfaction and organizational commitment

Managers Role in Helping to Create Job Satisfaction and Organizational Commitment

  Plans to present points and counterpoints to the subject

After the former U.S. Vice President Al Gore received the Nobel Prize for his work and efforts to raise awareness about global warming, he was asked to prepare a white paper on the subject. To enhance his credibility, he plans to present points and c..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd