It is hereby agreed that AAA Company shall, at the end of three years after the date, repurchase the stock at $13 per share on thirty days' notice. AAA Company, by Oppson.
After three years, demand was made on AAA Company to repurchase. The company refused the demand and repudiated the agreement on the ground that the agent had no authority to make the agreement for repurchase. Is AAA Company liable to Barnes? Explain.
In this case, Wallace is not entitled to get one-half of the vàlva of two buildings since the land on which the buildings have been constructed belongs to Hammer and his wife and the property is immovable so it belongs to the land owners. The land was not a partnership property between Hammer and Wallace.
Here Paula and Mike have not been in any partnership agreement, so they can't be called partners by law. Having joint account, sharing shares jointly and profits and dividend doesn't makes they are lawfully partners.
Oppson was not authorized to make any agreement by endorsing it at the back of the certificate therefore it's not a valid agreement but since it was made from the part of the AAA company and as Oppson is the representative of the company, the company must take liability for the deeds of its own representative and should ensure that it won't happen again.
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