subject
Business, 25.04.2020 02:11 Calliedevore

Do not rewrite the case, simply submit your 100 response.

Shirley Lach and Lynwood Wiseman formed Man O' War Limited Partnership. Robert Miller and Wiseman were the general partners, and Lach was one of the limited partners. Miller discovered he was terminally ill. He asked Lach to agree to Wiseman, Jeffery Mullens,(brother-in law of Robert Miller), and Jonathan Miller (son of Robert Miller) as the new general partners. Under the partnership agreement, new general partners could not be added without the consent of all partners. Lach objected as the proposal would permit the Miller family, which owned less than Lach's individual interest, to manage and control the business. Miller and Wiseman restructured the business form of the partnership to eliminate the necessity of acquiring Lach's consent to the proposed management change. By forming Man O' War Limited Liability company and transferring the partnership's interests and assets in the proportions of their previous partnership ownership, they set up an entity run by a majority vote of the owners. The initial managers were Wiseman, Jonathan Miller, and Mullens. They dissolved the partnership. Unless a partner signed the documents validating the restructuring, that partner would have no voting rights in the LLC. Lach refused to sign. Records of the partnership's attorney showed the restructuring was to avoid requiring Lach's consent to the management changes. Lach sued, alleging the general partners had breached their fiduciary duty to her and the partnership. Had they? Explain your viewpoint.

ansver
Answers: 3

Another question on Business

question
Business, 21.06.2019 21:30
In a macroeconomic context, what are implicit liabilities? money owed to people possessing government issued bonds. the amount of money that firms collectively owe to shareholders. money that the government has promised to pay in the future. payments that the federal government undertakes only during periods of recession. which of the choices is a significant implicit liability in the united states? military spending education spending national science foundation spending social security
Answers: 2
question
Business, 22.06.2019 01:30
Monica needs to assess the slide sequence and make quick changes to it. which view should she use in her presentation program? a. outline b. slide show c. slide sorter d. notes page e. handout
Answers: 1
question
Business, 22.06.2019 06:40
10. which of the following is true regarding preretirement inflation? a. defined-benefit plans provide more inflation protection than defined-contribution plans. b. because of preretirement inflation, possible investment-related growth is increased for defined-contribution plans. c. all types of benefits are designed to cope with preretirement inflation. d. preretirement inflation is generally reflected in the increase in an employee's compensation level over a working career.
Answers: 3
question
Business, 23.06.2019 11:30
3. why would the sale of counterfeit products through its sites be damaging to alibaba?
Answers: 2
You know the right answer?
Do not rewrite the case, simply submit your 100 response.

Shirley Lach and Lynwood Wisem...
Questions
question
Spanish, 13.12.2021 23:30
question
French, 13.12.2021 23:30
question
English, 13.12.2021 23:30
Questions on the website: 13722360