economicsHoliday Isle Resort & Marina, Inc.,
operated four restaurants, five bars, and various food kiosks
at its resort in Islamorada, Florida. Holiday entered into a
“joint-venture agreement” with Rip Tosun to operate a fifth
restaurant, called “Rip’s—A Place for Ribs.” The agreement
gave Tosun authority over the employees and “full authority as
to the conduct of the business.” It also prohibited Tosun from
competing with Rip’s without Holiday’s approval but did not prevent Holiday from competing. Later, Tosun sold half of his
interest in Rip’s to Thomas Hallock. Soon, Tosun and Holiday
opened the Olde Florida Steakhouse next to Rip’s. Holiday
stopped serving breakfast at Rip’s and diverted employees and
equipment from Rip’s to the steakhouse, which then started
o ering breakfast. Hallock filed a suit in a Florida state court
against Holiday. Did Holiday breach the joint-venture agreement? Did it breach the duties that joint venturers owe each
other? Explain. [Hallock v. Holiday Isle Resort & Marina, Inc.,
4 So.3d 17 (Fla.App. 3 Dist. 2009)] 2nd Edition•ISBN: 9781464113079David G Myers901 solutions
1st Edition•ISBN: 9781118414705David Besanko, Mark Shanley, Scott Schaefer215 solutions
10th Edition•ISBN: 9781337902571 (1 more)Eugene F. Brigham, Joel Houston777 solutions
9th Edition•ISBN: 9780134804460 (2 more)Bruce M. King, Pamela Regan1,085 solutions
