Amina,Bill,and Connor Carried on Business in Partnership as Hardware Merchants

question 88

True/False

Amina,Bill,and Connor carried on business in partnership as hardware merchants.Bill,who did most of the purchasing of stock for the partnership,would occasionally purchase (using his own money)an extra quantity of some items that could readily be sold to consumers.He would use the truck owned by the business on the weekends to travel to his cottage where he would sell the items to cottage owners in the area of his own cottage.Amina and Connor were unaware of Bill's actions,as B had not revealed his weekend business activity to either Amina or Connor.
-Amina and Connor are entitled to claim their share of the profits earned by Bill from his weekend selling activity.

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Definitions:

Assent

Agreement to the terms of an offer in contract law, which is a necessary component of contract formation.

Consumer Transaction

A commercial interaction between a seller and a consumer, often involving the purchase and sale of goods or services.

Breach of Contract

The failure to fulfill the terms of an agreement, which can lead to legal action and the imposition of damages to remedy the breach.

Sale of Goods Act

A statute that governs the sale of goods, providing rights to buyers and obligations to sellers, including aspects like quality and title.