Business
Business, 16.07.2021 17:30, chippedwood24

Chang, Monica and Haley went into business as a limited partnership running a restaurant. Chang and Monica managed the restaurant and ran the day-to-day operations. Haley had no role in running the restaurant. Chang and Monica each invested $500,000 and Haley contributed the building and land, which was appraised at $1 million. Brady, a customer, had a severe peanut allergy and ordered a peanut-free dish, but was negligently served a dish with peanuts and suffered severe long-term health effects. Brady sued the partnership and was awarded a judgment for $3 million. Brady managed to seize the assets of the partnership to satisfy his judgment, having the property and building sold, and seizing all other property, but $1.5 million remains unpaid. What result

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Chang, Monica and Haley went into business as a limited partnership running a restaurant. Chang and...

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