Farah and David decide to form a sports memorabilia retail partnership. They have known each other since business graduate school and have always worked well together on various projects. The business is doing well but cash flow is very tight. Farah takes several calls from vendors asking for payment. He believed David had been paying the bills. When he asks about this, David admits to embezzling from the partnership. What liability does Farah face as a result of the theft

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Farah and David decide to form a sports memorabilia retail partnership. They have known each other since business graduate school and have always worked well together on various projects. The business is doing well but cash flow is very tight. Farah takes several calls from vendors asking for payment. He believed David had been paying the bills. When he asks about this, David admits to embezzling from the partnership. What liability does Farah face as a result of the theft

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MARTEBIGO MARTEBIGO · Answer 1

MARTEBIGO MARTEBIGO

Answer:

Farah faces a general partnership as a result of theft

Explanation:

General Partnership is simply a free association of two or more persons to carry on business for profit gains.

Partnership agreement is simply an agreement by two or more persons to do business together as a partnership in an oral or written form.

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AYFAT23GO AYFAT23GO · Answer 2

Based on the provided information, Farah faces a general partnership as a result of theft.

According to the question, we were to discuss about Farah and David who decide to form a sports memorabilia retail partnership and the liability that Farah faced.

As a result of this, we can see that she faced general partnership as a result of theft, general Partnership which is a free association of two or more party to share gain from a business,

Therefore, since David admits to embezzling from the partnership then it is a theft from partnership.

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