Post by Philip HoleWhat is the state of the Partnership?
Adam has 2 contracts with Home Farm - an employment contract which he
intends to terminate and the partnership - he will now become a sleeping
partner only contributing at Board meetings.
Post by Philip HoleAdam is obviously a partner and has money (or a share of the partnership).
He took some of his money out.
He took an advance on partnership profits which was repaid, subject closed.
The airwaves will be a lot quieter
Post by Philip Holeb) Alice decides she needs funds for rehab.
She will sell her assets - she might talk to Chris about finding tenants
for the cottage and using that to pay for rehab and relocation
Post by Philip Hole(Or Brian decides that she must pay it all).
c) Where does Ruahri fit into it all?
Rugrat has a share in the partnership and no doubt stands to inherit
Biriani's share of the partnership as well, unless the partners'
agreement stipulates where his and Jenny's shares go.
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Kosmo Richard W
www.travelswmw.whitnet.uk
https://tinyurl.com/KRWpics