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Author Question: Three men decided to form a partnership to look for buried treasure. Luke and Mark had expensive ... (Read 89 times)

laurencescou

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on: Aug 7, 2021
Three men decided to form a partnership to look for buried treasure. Luke and Mark had expensive equipment, experience, and expertise. The third partner, Cyrus, had an old treasure map. The three men agreed to meet on Monday on an island in the Caribbean. Cyrus had his holiday start a few days earlier so he went ahead "to set up camp." Before the others arrived Cyrus found the treasure. When they stepped off the plane, Cyrus handed them a dissolution of partnership notice and claimed the entire treasure for himself. Do Luke and Mark have any legal claim to the treasure?
◦ No, Luke and Mark's assets and experience were not used to find the treasure.
◦ No, but they can claim all of the out-of-pocket expenses associated with the aborted trip to the Caribbean.
◦ No, the partnership was dissolved before the full value of the treasure was determined.
◦ Yes, the treasure was found before the partnership was dissolved; therefore, Cyrus must account for the profit he made.
◦ Yes, they have an equitable claim for specific performance to the treasure.
Legal Fundamentals for Canadian Business ¦ Yates ¦ 4th Edition
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Marked as best answer by laurencescou on Aug 7, 2021

Anna

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Reply #1 on: Aug 7, 2021
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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laurencescou

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Reply 2 on: Aug 7, 2021
YES! Correct, THANKS for helping me on my review

amandanbreshears

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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