Emily,Harry,and Ron Are Partners in a Business Partnership Called Trinkets

question 54

Multiple Choice

Emily,Harry,and Ron are partners in a business partnership called Trinkets.Emily contributed $15 000 to the business,Harry $10 000,and Ron $5000.The partners agreed among themselves that they will share partnership profits and losses in proportion to their contributions.In addition,the partnership borrowed $30 000 from the bank.The business didn't work out,and Trinkets is unable to repay the loan.The bank sued Emily personally.She repaid the full $30 000 and then sued Harry and Ron.What amounts may Emily be legally entitled to recover from her partners?

• A) $10 000 from Harry and $5000 from Ron
• B) $7500 from Harry and $7500 from Ron
• C) $15 000 from either Harry or Ron
• D) $30 000 from either Harry or Ron

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