Is Taylor correct in her claim? Will Roberts and Hull have to pay her a share...
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Is Taylor correct in her claim? Will Roberts and Hull have topay her a share of their surplus cash? Explain.
Business Law with UCC Applications 15th edition Chapter 25
Case #2
Kerry Taylor owned a warehouse in the industrial flats of ParkeCentral City. Yale Roberts and William Hull were partners in achain of restaurants called Pirate's Seafood Carousel. Roberts andHull leased Taylor's warehouse for their restaurant. As part of theagreement, Taylor received $7,500 in rent each month. Taylorretained office space on the top floor of the warehouse. She alsoagreed to allow Roberts and Hull to remodel the rest of thewarehouse to meet the needs of their new restaurant. Tayloroccasionally offered advice about the remodeling of the warehouse.In addition, Taylor frequently signed for shipments that Robertsand Hull had ordered for the restaurant. After 5 years in thislocation, and after selling their restaurants, Roberts and Hulldecided to dissolve their partnership. During the winding upprocess, they were surprised to learn that Taylor claimed to be apartner in Pirate's Seafood Carousel. Is Taylor correct in herclaim? Will Roberts and Hull have to pay her a share of theirsurplus cash? Explain.
Is Taylor correct in her claim? Will Roberts and Hull have topay her a share of their surplus cash? Explain.
Business Law with UCC Applications 15th edition Chapter 25
Case #2
Kerry Taylor owned a warehouse in the industrial flats of ParkeCentral City. Yale Roberts and William Hull were partners in achain of restaurants called Pirate's Seafood Carousel. Roberts andHull leased Taylor's warehouse for their restaurant. As part of theagreement, Taylor received $7,500 in rent each month. Taylorretained office space on the top floor of the warehouse. She alsoagreed to allow Roberts and Hull to remodel the rest of thewarehouse to meet the needs of their new restaurant. Tayloroccasionally offered advice about the remodeling of the warehouse.In addition, Taylor frequently signed for shipments that Robertsand Hull had ordered for the restaurant. After 5 years in thislocation, and after selling their restaurants, Roberts and Hulldecided to dissolve their partnership. During the winding upprocess, they were surprised to learn that Taylor claimed to be apartner in Pirate's Seafood Carousel. Is Taylor correct in herclaim? Will Roberts and Hull have to pay her a share of theirsurplus cash? Explain.
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