Name:Student ID:IRAC Analysis: Russ CasinoIRAC Analysis: Russ Casino Inc.IssueThe issue in this case is that Courtaney sold Russ Casino Inc without the knowledge of his partner Biscoeand did not give him his share. Biscoe is not able to account for $1,650,230 in missing cash, somethingthat makes Courtaney decide to sell the Casino without informing him despite the fact that he is themanager of the Casino.RuleIn a company, the party which holds the majority shareholding has the capacity to influence the decisionsthat are made in the company. In the situation where the party holds over 51% ownership, they have therights to make any executive decisions they may please (NY Consolidated laws, Article 10, 1001-1009,US Legal, 2016).AnalysisOwning the majority and over 50% of any company give the party that owns the shares the absolute controlof the company. This implies that t ...
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