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COMM 393 Midterm Practice Exam Answer CA$45.16
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COMM 393 Midterm Practice Exam Answer
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UBC Commercial Law course notes, specially for the midterm exam. I highly recommend you to study the notes before your exam, if you want to know the structure and types of the midterm exam

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  • April 8, 2020
  • 16
  • 2018/2019
  • Study guide

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COMM 393
2017W1 Final Review Package
Answers
By Gabriel Cheung

, TABLE OF CONTENTS
I.Partnerships
II.Sole Proprietorship
III.Negligent Misstatement
IV. Fiduciary Duty
V. Agency
VI. Sale of Goods Act
VII. Privity of Contract
VIII.Negligence, Contributory Negligence,
and Vicarious Liability
IX. Exclusion Clauses
X. Corporations

, PARTNERSHIPS
Related Cases:
 LANZ V. LANZ
 SCRAGG V. LOTZKAR
 PEN-BRO HOLDINGS V. DEMCHUK

Answer:
Issue: What type of partnership are Nick and Dan conducting and
who will be held liable for the damages?
Law: General partnerships are not considered to be separate
legal entities from individuals and both partners have unlimited
personal liability. There is no evidence that indicates the
business is an LP or LLP. In a general partnership, partners are
each personally liable for any tortious liability.
Application: Being a general partner in a business offers poor
asset protection. Lit Sushi will be held liable for the damages,
and the seafood supplier can choose to go after either partner’s
personal assets if Lit Sushi’s business assets are insufficient.
Conclusion: Nick and Dan are conducting a general partnership,
and all parties can be held liable for the damages, Lit Sushi,
Nick, and Dan.

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