The Formulation of a Partnership
Read the Blumberg v. Ambrose case that begins on page 597 of the text (Chapter 17). Respond to the following questions: If an LLC was created, how is this case about the formulation of a partnership? What are the indications that there was a partnership created? Miscommunication is often the basis for litigation – what should the parties have done in this case? How do you define a partnership? What should you do before engaging in a business operation with another individual? What list of lessons could you develop for two people who are starting a business based on what happened in this case? Post a substantive response to the question (minimum 300 words).