Difference between revisions of "Utah joint venture"

Latest revision as of 03:59, 20 January 2015

Joint venture: As a general rule, in order for a joint venture to exist there must be:

a community of interest in the performance of the common purpose;
a joint proprietary interest in the subject matter;
a mutual right to control;
a right to share in the profits; and
unless there is an agreement to the contrary, a duty to share in any losses which may be sustained.

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-Joint venture: As a general rule, in order for a joint venture to exist there must be: (1) a community of interest in the performance of the common purpose; (2) a joint proprietary interest in the subject matter; (3) a mutual right to control; (4) a right to share in the profits; and (5) unless there is an agreement to the contrary, a duty to share in any losses which may be sustained.
+Joint venture: As a general rule, in order for a joint venture to exist there must be:
+# a community of interest in the performance of the common purpose;
+# a joint proprietary interest in the subject matter;
+# a mutual right to control;
+# a right to share in the profits; and
+# unless there is an agreement to the contrary, a duty to share in any losses which may be sustained.
 [http://scholar.google.com/scholar_case?q=Ellsworth+Paulsen+Const.+Co.+&hl=en&as_sdt=4,45&case=502772107124324942&scilh=0 Ellsworth Paulsen Const. Co. v. 51-SPR-L.L.C., 2008 UT 28, 183 P.3d 248]