Joe Entered into Partnership with Two Others in the Establishment

Essay

Joe entered into partnership with two others in the establishment of a real estate sales agency. The other two, Sam and Harry, had considerable experience in the real estate business but no money. Joe, on the other hand, had his own home and several significant assets, and although he didn't have any experience in real estate, his monetary contribution made him an equal partner with Sam and Harry. Unfortunately, Harry misused some trust funds that had come into his care as a result of business by investing it in his son's business rather than in an interest-bearing account. The son's business went sour and the money was lost. The client sued Harry, Sam, and Joe. Explain the legal position of Joe here.