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The Laws of Trinidad and Tobago

The Laws of Trinidad and Tobago

According to the laws of Trinidad and Tobago, please state the issue, the law, analysis and conclusion to the follow case:-

1. Maria and Roger came together in July 2008 to start a partnership. Being formally trained in accounting, they thought it best to proceed with a formal partnership agreement for a period of three years, after which they could renew the agreement. Since Roger was a more experienced accountant and was bringing more resources to the firm, it was agreed that his share of the partnership would be 75%. They signed and business was booming. Maria trained under Roger and became quite good at her job and started bringing in clients of her own. July 2011 came and passed and, because business was going so well, they simply continued without renewing the agreement. Earlier this year, in February 2014, however, the relationship between the two began to sour and they finally decided last week to dissolve the partnership. Maria has indicated that she wants 50% of the assets and monies of the partnership due to her increased contribution over time, but Roger says that
she is only due 25%. Please advise Maria based on the laws of Trinidad and Tobago.

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Category: Sample Questions