Three Men Decided to Form a Partnership to Look for Buried

question 24

Multiple Choice

Three men decided to form a partnership to look for buried treasure.Luke and Mark had expensive equipment,experience,and expertise,but the third partner,Cyrus,had a treasure map.Cyrus had his holidays start a few days earlier than the other two,so he went ahead "to set up camp." Lo and behold,before the others arrived,Cyrus found the treasure.So when Luke and Mark arrived,he immediately dissolved the partnership and claimed the entire treasure for himself.Do Luke and Mark have any legal claim to the treasure?

• A)Yes,they have a fiduciary duty to take their share.
• B)No,they don't,because Luke and Mark's assets were not used to find the treasure.
• C)Yes,they do,because the treasure was found before the partnership was dissolved.
• D)No,they don't,because the partnership was dissolved before the treasure was made known.
• E)Yes,they do,because Cyrus has both possession and the upper hand.

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Definitions:

Expectations

Refers to the beliefs or forecasts about future events or behaviors, which can shape social interactions and personal goals.

Educational Attainment

The highest level of education an individual has completed, which can influence their career opportunities, income, and social status.

Social Mobility

The movement of individuals, families, or groups through a system of social hierarchy or stratification.

United States

A country in North America, consisting of 50 states, characterized by a federal republic governance structure and a diverse cultural landscape.