answer 2 Unincorporated Business Associations question
use the 3 powerpoint slides I provide to Answer the 2 questions in the word doc, minimum 400 words.
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- Is Karl entitled to 50% of the profits of the business?
According to the laws that bind partnerships, there is a need for consent from both parties in case of a new partner. The fact that Beth Wilson asked Karl Josephson to work with her on the interior design business does not amount to the consent of the formation of a partnership. Establishment of a partnership, in general, requires the contribution of capital towards partnership property coupled up with the consent of both parties to carry-on as co-owners in the venture of earning a profit (MANN & ROBERTS, 2018).
(522 words)