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Essay / Partnership Case Study - 1377
The facts of this case can be applied to this scenario since the parties went into business for profit, it is stated in their agreement that they agreed to share the profits – nothing was mentioned about losses, but if the structure is indeed a partnership then the losses are shared between all four parties – it can also be concluded that the parties in this scenario were somewhat concerned about financial stability on the other because they agreed to repay Charlotte's loan. of the company's profits, although this fact alone does not constitute a strong argument