Business Law Case Study
- Business Law
- Agreement and case study
The business case study involving Jamie Clark and Joe Adamson is mainly partnership, but due to some issues arising between the two partners Jamie has decided to take legal claims against Joe in the court of law. In order to pass judgment in this case, the partnership agreement would be examined and discussed according to the court of law. Issues like business law, business partnership, intellectual property, and limited liability will be investigated to further our understanding of the case. According to the law, business Law refers to laws that usually apply to business entities like corporations and partnerships. Business partnership with Uniform Partnership Act states "Two or more people in an association in a business for profit are said to be in, regardless of their intention to form a partnership (Spadaccini par 1). Partnership offers multiple owners simplicity and flexibility of the organization of the business.
In a limited liability partnership or limited partnerships, a partnership can have a degree of liability protection. In addition, partnerships can also be formed with a handshake or oral agreement. Therefore, misunderstandings occur, thus a written partnership agreement is needed. In the case study, during dinner they drafted the contract on the back of a menu, and did not add an integration clause, making the terms of the agreement of the contract as final without a signature. There are things that have taken place that need understanding, integration clause or popularly known as merger clause is a term used in a contract to declare it complete and final agreement between parties and usually placed towards or at the end of the contract. In its original state, the integration clause states