Illustrate universal partnership of all present properties
Problem: Kim Il Sung, Kim Jong Il, and Kim Jong Un entered into a universal partnership of all present properties. Will this partnership include all properties which they would acquire subsequent to the partnership? Explain.
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Charles Windsor is a limited partner in the partnership of Charles Windsor, Philip Battenberg and Nicholas Romanov.
Being an expert in Business law, they sought your advice. Can they legally enter into a universal partnership? Why?
Can the contract be questioned on the ground that there was no approval by the board in a meeting called for such purpose?
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Will this partnership include all properties which they would acquire subsequent to the partnership? Explain.
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