The Case of Partnership Law Study Example | Topics and Well Written Essays - 750 words

The of Partnership Law - Case Study Example The case context clearly indicates that all the four participants equally contributed to boat rentals and other associated costs for the treasure search. Hence, evidently, there was a partnership agreement between the four participants. 2. As per the basic provisions of the partnership, there should be at least two members for the formation of a valid partnership. Each member has a contractual obligation to participate in the management and a legal right not to be expelled by other partners. According to Schneeman (2010, p. 69), each partner has the right to get an equal share of the profit, which arises out of the partnership. Partnership law clearly states partners’ rights and obligations incidental to the partnership. In the given case, all the four participants have the right to express their opinion about matters connected with the treasure search. Similarly, each participant is entitled to obtain a one-fourth share of the treasure if it is discovered. At the same time, a ll of them have the legal obligation to bear an equal share of expenses also. 3. According to Canadian Partnership Act Part 2(17), â€Å"an admission or representation made by any partner concerning the partnership affairs, if made in the ordinary course of its business, is evidence against the firm† (Partnership Act). From the case study, it is clear that all the four partners have equally devoted their time, money, and effort to the venture until a certain point of partnership. In addition, none of the partners neither has retired nor was expelled from the partnership. However, three of them were unable to join the venture in certain weeks due to personal affairs. Hence, the judge must consider that all the four parties are still legally under the partnership agreement. Before making any decision regarding their rights and obligations relating to this partnership, the judge should also ensure that all the four participants have carried out their duties and responsibilities properly and timely. 4. As per the partnership laws in practice, the amount of the treasure must be distributed among the four partners on the basis of their contribution to the venture if there is a claim for entitlement to the Twenty Million Dollars. In other words, all the three members are entitled to obtain a certain portion of the treasure amount as the partnership has not been dissolved yet. 5. Allen’s friend who participated as the buddy at the time of the discovery cannot be recognized as a partner. It is clear that Allen’s friend joined the venture at the last moment when the partnership was broken. There were no oral or conduct agreement or written document between Allen and his friend; in contrast, Allen requested the service of his friend as a helper. Here, Allen’s friend is entitled to get remuneration but not share of the profit and the amount of remuneration is left to Allen’s discretion. 6. Although all the four partners could not continu e research due to their personal reasons, they are still parties to the partnership agreement and had incurred expenses at various stages of the research. However, it is precise that each partner had incurred various amounts of expenses.

Financial analysis of Medtronic Inc Research Paper

Financial analysis of Medtronic Inc - Research Paper Example According to the research for every industry and every firm, marketplace responsibility is essential to maintain. The responsibility and accountability which medical sector holds is far more challenging than any other sector. A single incident of mistake from medicinal institution can rupture the reputation of the company. The case of Medtronic in regards to accountability and responsibility is much stronger as it has hardly encountered any severe case which would have violated the ethical standards. Medtronic Inc not only possesses leadership skills but also possess a strong marketplace in behaving with accountability and responsibility. This role of responsibility and accountability in marketplace reflects the integral role of suppliers and customers for the long term sustainability of Medtronic. Global quality strategy refers to maintaining the level of quality which is supplied at the global level. Some companies outperform others by providing the best possible quality to their p atients. This is the greatest strength which a medical firm can possess because it retains the existing number of customers. Being positive and trustworthy in the eyes of customer is very important in the field of medicine. The vision of Medtronic Inc is to sustain the quality of products, services, relationships and processes. In medical care, maintaining the quality of these concerns is integral. It is not only important for physicians but also for patients, hospital administrators and Medtronic’s performance and corporate reputation. ... The vision of Medtronic Inc is to sustain the quality of products, services, relationships and processes. In medical care, maintaining the quality of these concerns is integral. It is not only important for physicians but also for patients, hospital administrators and Medtronic’s performance and corporate reputation. The company has utilized systematic approach for maintaining quality which can be divided into risk management, centralized monitoring for quality processes and standards and resources for maintaining quality concerns globally. The company has expertise in maintain the quality of products which it offers including not medicines but therapies, equipments as well. This can be the major reason that in the subsequent mentioned SWOT analysis, the company has the lowest number of weaknesses which is a sign of a sustainable and peak performing firm. SWOT Analysis of Medtronic Inc SWOT analysis analyzes the strengths, weaknesses, threats and opportunities which a firm fac es while operating its business. Strengths and weaknesses are normally referred to as related to the internal environment of business, whereas threats and opportunities are generally regarded as related to the external environment of the business. Strengths Strengths of a company determines its strong points which assists that company in carrying out it operations. Medtronic Inc possesses a strong market position. It is considered as the global market leader in medicinal industry. Another strength of this company is that the company offers wide range of products for almost every type of medicinal field. Medtronic Inc’s financial stability is its major strength. The company has great control over