John can veto the contract because he put in more money

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Reference no: EM133362883

John, Betty, and Nathan have formed a business partnership. John put in $10,000 in capital, and Betty and Nathan contributed $5,000 each. Betty now proposes that they contract with Ray, a freelance consultant. Nathan thinks this is a good idea, but John disagrees. Which of the following outcomes will apply to this scenario?

1)John can veto the contract because he put in more money.

2)Betty and Nathan can approve the contract over John's objection.

3)The three partners will need a contract lawyer to resolve their dispute.

4)Ray can sue John for breach of contract

Reference no: EM133362883

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