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Chi DiandFiformedanordinarypartnershiptorunanartgallery.Eachofth

2020-11-28 01:13:10 问答库 阅读

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Chi,DiandFiformedanordinarypartnershiptorunanartgallery.Eachofthempaid£100,000intothebusiness.AsFihadnoprospectofraisinganymoremoneyitwasagreedbetweenthemthathermaximumliabilityforanypartnershipdebtswouldbefixedatheroriginalcontributionof£100,000.Thepartnershipagreementspecificallyrestrictedthescopeofthepartnershipbusinesstothesaleof‘paintings,sculpturesandotherworksofart.’InJanuary2010Chitook£10,000fromthepartnership’sbankdrawnonitsoverdraftfacility.Shehadtoldthebankthatthemoneywastofinanceashort-termpartnershipdebtbutinfactsheusedthemoneytopayforaholiday.InFebruaryDienteredintoa£25,000contractonbehalfofthepartnershiptobuysomebooks,whichshehopedtosellinthegallery.
Required:
AdviseChi,DiandFiastotheirvariousrightsandliabilitiesinrelationtotheoperationofthebusinessunderpartnershiplaw.
请帮忙给出正确答案和分析,谢谢!

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