1. Alpha Communications, a partnership, publishes consumer periodicals, includin
ID: 326419 • Letter: 1
Question
1. Alpha Communications, a partnership, publishes consumer periodicals, including Science Today. Beta Publications, also a partnership, publishes professional periodicals, including Technology Review. Alpha and Beta agree to pool their resources in a one-time deal to print and market a book, Unlimited Future. In contracting with Gamma Printing Supplies, Inc., for paper to print the book, Alpha commits fraud. In contracting with Delta Literary Agency for articles to use in Technology Review, Beta commits fraud. Gamma and Delta file suits against Alpha and Beta.
2.Florence and Grady pool their money and talents to form Happy Home Builders, Inc. They are the firm’s only shareholders, directors, and officers. After five years of declining home prices, they decide to cease business. Can they simply dissolve their corporation at will? If so, what are the steps in the process?
3. state bank employs troy as an information clerk. troy has authority only to answer customers' qyuestions. during a renovation, state bank temperarily moves troy from the information desk to a teller's window. Ubi, a customer, bielieves that troy is a teller and leaves a deposit with him. troy keeps the money. is state bank liable?
Explanation / Answer
Here in this case alpha is liable to gamma, beta is liable to gamma and delta. Each joint venture is liable to third party for the actions pouf the other member when it involves enterprise common goal. But he is not liable to third party for the action of other member for their own separate interest. They can dissolve their corporation at will by notifying the firm’s creditors, liquidating the firm’s assets and making distributions. The company must file articles of dissolution to notify its creditors. It must set a date after 120 days of dissolution to give all claims of creditors. Yes state bank is laible.the state bank has put troy in a teller’s window, but he was a clerk. A customer left money with troy thinking that he was a teller because elf his location and the customer suffered a loss. The state bank must be stopped from denying that the agent had authority.
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