Problem solving questions Essay Example | Topics and Well Written Essays - 3000 words

Problem solving questions - Essay Example It includes also an incorporated limited partnership. Once a partnership is formed, every partner becomes the agent of the firm and other partners in relation to the business of the firm. Thus, every act of partner for the purpose of business except in the case of incorporated limited partnership shall bind the firm and other partners provided the partner acts within his authority to act for the firm in specific cases and the person whom the partner is dealing with believes him to be the partner having authority. In other words, if the person dealt with by the partner knows that the partner has no authority, his acts cannot bind the firm nor other partners. The same holds good in respect of a general partner vis-a-vis the firm and other general partners. Section 13 (1) of the Act lays down that all partners except in the case of an incorporated limited partnership are liable jointly and severally for the liabilities of the firm that have risen whilst being partners. S 13 (2) if the p artner who is an individual dies, his/her estate is severally liable for the liabilities of the firm after satisfaction of his/her separate debts. Same holds good in case of incorporated limited partnership for a deceased general partner. The general partner of an incorporated limited partnership is liable only in respect of unsatisfied liabilities of the firm or more as per the partnership agreement. ... As the partnership business is in common, the partners should disclose material facts that affect their partnership failing which it would amount to misrepresentation on the part of those who fail to do so. Further, a retiring partner can by a condition of restraint of trade be prohibited to start a competing business within the locality for a pre-determined period. Further, a partnership contract cannot be assigned (Gilles, 1988). Application In view of the above important provisions governing partnership business, Jody whose capital will be at stake must have the partnership agreement reduced to writing. And Jody must be entitled to a proportionately higher share of profit and reserve to herself the right to take important decisions in day to day management. This does not mean the other partners are not liable to loss that may occur due to Jody’s decision making. Conclusion Jody can enter into partnership with Mike and Sarah keeping in view of the limited capital or no capit al Mike and Sara may bring in and also have an agreement in restraint of trade on the retiring partners including Jody herself. Consequences The proposal to enter into partnership agreement among Jody, Mike and Sarah will be viable subject to the above conditions therein. 2. Tort- negligent misstatement Issues: Whether Amy can sue Betty for her wrong advice tendered to Amy as a result of negligent misstatement? Law and cases: In order to prove negligence on the part of defendant, claimant should satisfy three conditions. That defendant had a duty of care to the claimant; this was breached by the defendant; that the damage caused by the breach of duty was

Analyzing Crime Trends Essay Example | Topics and Well Written Essays - 250 words

Analyzing Crime Trends - Essay Example Lastly, the overall crime rate in Kent, Washington was 606.9 in 2005, and it systematically reduced to 518.8 in 2008 (Kent City Police Department n.p). It is evident from the data above that Rochester City, New York had the highest number of crime rate and Santa Clarita, California had the least number of crime rate. Additionally, there was a general reduction in crime rates for all the five cities. One of the key reasons for the reduction, in crime rates in these five cities, is the implementation of a more decentralized community policing strategy that is characterized by openness to try out new techniques of protecting the cities and statistical analysis (Boba-Santos 87). Additionally, most States have ensured that majority of hard core criminals and offenders have been prosecuted and placed in jail. Incarceration has ensured that majority of crime offenders have been placed out of streets thus the reduction in crime rate (Boba-Santos 91). Demographics have also contributed in reducing crime rates in these cities. Statistics indicates that young people commit criminal offense more than the elderly (Clark 67). Therefore, the State governments have created a number of social activities that target youths thus keeping them busy. This has also reduced crime rate drastically. Local policy in these cities has also improved surveillance (Siegel 104). Cameras are everywhere in the streets thus making it difficult to commit a crime (Clark 73). In summary, crime rates have reduced in the United States, and this is evident in the data provided for the five cities. This is particularly attributed to a the change of local policy in different cities and