Partners in weaving business

Assignment Help Business Management

Reference no: EM133614092

Question

Frank and Malcolm were partners in a weaving business. The loom was located in Malcolm's house. Since weaving was not their "day job," neither was concerned that they did not receive many commissions. But Malcolm loved to weave and did so on weekends. When his friend, the Mayor of Smalltown, saw Malcolm's collection of blankets, he urged Malcolm to sell them at the summer art fair. Malcolm did so and earned a significant amount of money. When Frank found out, he demanded half of the proceeds. Malcolm argued that the loom would have been sitting idle and therefore the money belonged to him. Can Malcolm keep the money?

Reference no: EM133614092

Questions Cloud

Identify and research a specific company within the industry : Identify and research a specific company within this industry. What do you believe could be done to lower the barriers to entry into this industry?

Advising that his son will not be purchasing : Advising that his son will not be purchasing the vehicle. The seller says that a contract to purchase the vehicle has been made, and it does not matter

Identify three issues with your presentation according : Identify three issues with your presentation according to the feedback. Enter a response here (No limits) b) Identify two (2) techniques you would use

Letix is going to be taken over and that kathy should buy : Amber calls her broker and has him buy for her account 1,000 shares of Jetix. Amber also tells her roommate Kachy that letix is going to be taken over

Partners in weaving business : Frank and Malcolm were partners in a weaving business. The loom was located in Malcolm's house. Can Malcolm keep the money?

Evaluate the effectiveness of the systems and service : By drawing on relevant research evidence and inquiries, evaluate the quality and effectiveness of the systems and services provided to your chosen group.

What causes miller to experience diminishing marginal return : Miller press has three pieces of equipment. What causes miller to experience diminishing marginal returns as they hire more labor to produce more output?

What are the benefits of environmental management system : What are the benefits of an Environmental Management System? What role do we as managers play in promoting sustainability to our employees?

What can we say about changes in interest rates : If consumer confidence falls at the same time as tax rates. What can we say about changes in interest rates and the level of investment in the economy?

User Account

All Pages