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-   -   Please help me with this question related to law class... thanks (https://www.askmehelpdesk.com/showthread.php?t=621973)

  • Dec 23, 2011, 11:26 PM
    lpppp
    Please help me with this question related to law class... thanks
    Miller, Lovitt and Sims formed a partnership to breed and race horses. Miller and Lovitt each contributed $25,000 to the partnership. Sims contributed four horses valued at $25,000. The partnership agreement provided that the partners would share profits equally. When the horses failed to perform as expected, Miller and Lovitt decided to reduce Sims' share of the profits. Sims objected.

    1. How will this case be decided?
    2. Support your decision with applicable provisions of the UPA and/or RUPA.
  • Dec 24, 2011, 09:47 AM
    JudyKayTee
    My concern is that if I do your law school homework I'll also have to go to Court with you when you're in actual practice.

    I don't want to do either.

    AMHD doesn't want me to, either.
  • Dec 24, 2011, 10:38 AM
    AK lawyer
    Ippp, how about we do it like this: you post your answer and we look at it and comment?
  • Dec 24, 2011, 10:59 AM
    Fr_Chuck
    Was the partnership in writing? What was the terms. Of course you don't know this, since it is not a real case, which is the issue, in real law, there is all sorts of detais that often make the case.

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