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August 13, 2021

Business law partnerships

General Questions

Homer, Moe and Barney formed SPRINGFIELD BEER, a general partnership to distribute Duff beer. They executed a written partnership agreement which includes the following provision: “The death of a partner will cause a termination of the partnership, and the deceased partner’s interest shall go to his wife.” Several days after Homer’s untimely death (D’oh!), his widow, Marge, came into the office demanding to be allowed to participate in the operation of the business, and claiming that she is entitled to future profits of the partnership.

Please Discuss: Why or Why not ?

Does the Partnership continue after Homer’s Death?

Does Marge become a full partner with a right to participate in management and future profits?

What is Marge entitled to?

No sources needed.

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