Limited partnership of palmer and morrison for management

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Reference no: EM133810687

Question

John Palmer and Henry Morrison formed the limited partnership of Palmer and Morrison for the management of the Huntington Hotel. The limited partnership agreement provided that Palmer would contribute $400,000 and be a general partner and that Morrison would contribute $300,000 and be a limited partner. Palmer was to manage the dining and cocktail rooms, and Morrison was to manage the rest of the hotel. Nanette, a popular French singer who knew nothing of the limited partnership affairs, appeared for four weeks in the Blue Room at the hotel and was not paid her fee of $8,000. Subsequently, the limited partnership became insolvent. Nanette sued Palmer and Morrison for $8,000.

Reference no: EM133810687

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