[Partnership Agreement] Rufus, Sven, and Igor Are Partners in a Health

question 88

Multiple Choice

[Partnership Agreement] Rufus, Sven, and Igor are partners in a Health Club. They executed a partnership agreement ten years ago. Rufus and Sven want to grow the company and approach Igor with their ideas. First, they want to add two partners into the partnership who have extensive capital. Second, they want to move the club into a new direction, by adding a restaurant and a casino. Third, they want to purchase new exercise equipment from SportsCo. Igor doesn't want to add new partners and despises the idea of adding the restaurant and casino. Igor agrees that new equipment is needed, but insists they continue to purchase equipment from HealthCo. Rufus and Sven tell Igor, that he's outvoted and also tell him they want to revise the partnership agreement's provision regarding mandatory retirement.
-Can Rufus and Sven move forward with adding a restaurant and casino to the club over Igor's rejection?

• A) Yes, because there is a majority vote in favor of the restaurant and casino.
• B) Yes, unless the creation of the restaurant and casino require an amendment to the partnership agreement.
• C) No, because there is no 4/5 vote in favor of the admission of new partners.
• D) Yes, but only if all material facts about the restaurant and casino have been disclosed to Igor.
• E) No, alterations to the nature of the business require a unanimous vote.

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Definitions:

Physical Work Environment

The physical conditions and the setup of a workplace that can influence an employee's well-being and performance, including factors like lighting, space, ergonomics, and noise levels.

Level of Illumination

The intensity of light present in a particular environment, affecting visibility, comfort, and performance of visual tasks.

Workplace Hazard

Any potential source of harm or adverse health effect on a person or persons within a workplace.

Loose Clothing

Garments that are not tightly fitted and can easily become entangled in machinery or equipment, posing a safety hazard.