Upon graduation from college, Bob, Carol, Ted, and Alice formed Kotaku, LP, a li

Question

Upon graduation from college, Bob, Carol, Ted, and Alice formed Kotaku, LP, a limited partnership, to distribute video gaming software over the Internet. Bob and Carol each contributed $50,000 and became the general partners. Ted and Alice each contributed $25,000 and became the limited partners. Bob and Carol oversee the day to day management of the business. They hire designer, Nick, who develops their number one selling software program, Dawn of Ka. The company sends Nick as a representative to the annual Comic-Con convention in San Diego to promote their products. Nick rents a car to travel from the hotel to attend the convention and entertain potential clients. While there, Nick negligently causes a car accident and runs over a pedestrian, Ralph, who is seriously injured as a result. As a result, Ralph sues to recover damages and names Kotaku, LP, Bob, Carol, Ted, Alice, and Nick in the lawsuit. Discuss the liability of each party and the potential amount Ralph might recover from each.

Explanation / Answer

here the general partners contributa $50,000 each .. and others contribute 25,000

here they attended the promotional thing and there they due to negligence .they met with an accident

so now the damages to be incurred would be .. 25,000 fromeach as they spoiled the reputation of their company and the cost of the lawyer and the hospitalization bills and the cost of the car .. so this will be too huge and they might need to loose their partnership due to this ... soo roughly the liability of each party and the potential amount ralph might recover from each would be $30,000

Related Questions

Navigate

• Browse (All)
• Browse U
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.