Yasmin and Elvis Were Partners

question 45

Multiple Choice

Yasmin and Elvis were partners.Yasmin committed a tort against Patagonia Inc while acting in the course of partnership business.Patagonia suffered a loss of $500 000.It successfully sued and now intends to satisfy judgment by collecting the appropriate amount.Which of the following statements is TRUE?

• A)Patagonia can only take assets that qualify as partnership property.
• B)If Patagonia collects $500 000 from Yasmin personally, she is entitled to collect half that amount from Elvis in the absence of an agreement between them that allocates their responsibility differently.
• C)Patagonia is entitled to satisfy its judgment against assets personally held by Yasmin, but not against assets personally held by Elvis.
• D)Patagonia is entitled to collect from Elvis, but only to the amount that represents the value of the assets and services that Elvis has contributed to the partnership.
• E)Patagonia can recover from the partnership assets and the personal assets of Yasmin and Elvis, or both or all of them.

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Definitions:

Depression

A mental health condition characterized by persistent feelings of sadness, hopelessness, and a lack of interest or pleasure in activities.

Alcohol

A psychoactive substance, commonly found in drinks such as beer, wine, and spirits, that can lead to intoxication and various health effects.

Drug Abuse

The habitual misuse of drugs, leading to negative impacts on one’s health, social, or occupational life.

Partner Violence

Refers to physical, sexual, or emotional abuse by one person in an intimate relationship against the other partner.