Could you please help me out to solve the below question for my assignment with all
the calculations and explanations of the answer.
1. Abdul, Bo and Carlos have formed a general partnership pursuant to an oral agreement. The agreement provided only that the partnership will conduct an oil drilling and leasing business. Abdul, Bo and Carlos contribute start-up capital in the respective amounts of $2,000,000, $1,000,000 and $500,000. Before the planned business is commenced, Carlos learns that a uranium mining business is available for sale, and, stating to the seller that he is acting on behalf of himself, Abdul and Bo, uses $2,000,000 of the partnership's funds to purchase the business (including an operating mine). The agreement to purchase the business is in writing. Abdul and Bo are not aware of what Carlos has done. The day after the purchase, several workers are killed in a mining accident. Assuming that the survivors of these workers would be able to prove damages of $12,000,000, who will have to pay it? Why?
What difference (if any) would it make if the partnership had made a filing as a limited liability partnership?