Think creditors should be able to collect from sarah

Assignment Help Operation Management

Reference no: EM132085046

Partnership Problems:

After the untimely death of his partner Anthony Autumn, Scott Schroder continued his San Francisco agency under the name of Scott Schroder. Several years later, one Sarah Schroder visited his office claiming to be his daughter. Sarah demanded that Scott make her a partner in the agency, but Scott refused. Scott told Sarah, "I'll never take on another partner as long as I can walk. But if you want to work for me, I'll buy you a yellow trench coat and all pens you want and pay you $20 a week plus expenses and 20% of the profits.

Scott Schroder continued to carry on the agency's business in the name of Scott Schroder. Nevertheless, when occasional bills arrived in the name of Schroder & Schroder, he was as likely to pay those bills as any others. Sarah never complained. Maybe some day he'll really treat me like a partner after all, she mused.

Ten years later, Scott is often absent from work and when he is there doesn't do any work. Business fell off quickly and creditors began to call frequently. After Scott had hounded Sarah for weeks to pay the creditors, Sarah began paying the creditors with her personal funds. One day when Scott was particular difficult, Sarah finally left. One her way through the door, she yelled, "You were never a father to me, you faked the agency books for years, and you never did any work. I know you've siphoned off thousands of dollars, and I'll get my share of it. Send my lawyer a certified check for my share of this business or I'll see your in court."

1. Is Sarah entitled to any share/funds of the agency business? Please explain why.

2. The agency business has no funds, and Scott has disappeared. Under what circumstances do you think creditors should be able to collect from Sarah? Please explain why,

Reference no: EM132085046

Questions Cloud

Discuss various types of communications you will need : Discuss various types of communications you will need to use on the project, what stakeholder(s) each type would address.

How would you design the study using a correlational design : The independent variable would dB levels of music; the dependent variable would be academic performance. Please elaborate on the following.

What type of project lifecycle : What type of project lifecycle best describes the types of projects you work on at your place of employment and in your personal life?"

Do you think the moseleys were trading off : Do you think the Moseleys were trading off of Victoria's Secret famous name? Do you think that the Moseleys had a legitimate claim to their business names

Think creditors should be able to collect from sarah : The agency business has no funds, and Scott has disappeared. Under what circumstances do you think creditors should be able to collect from Sarah?

How some of the features of the item that loch describe : Extensions will only be allowed by using the CQU Assessment Extension Request link in this Moodle web page.

At what point in the process does sensation occur : Consider the flow of information. At what point in the process does sensation occur? Is there a distinct and identifiable point where sensation ends.

How much is the marketing research worth to mary : How much is the marketing research worth to Mary? Calculate the EVSI.

Explain the aspects of a risk-benefits analysis : Prior to beginning work on this discussion, read the required chapters from the text and review the required articles for this week.

User Account

All Pages