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13.“  From the point of these stipulations, Li and Qiang should undertake joint liability for their partnership's debt to Walter. Also from this article, we can see that Qiang, if he will have overpaid his share of the partnership's debts shall have the right to claim compensation from the other partner: Li.

As for the relationship between Walter and Li & Qiang, they are in a commission. Or to say, there is a commission contract between them. A commission contract is a contract whereby the principal and the agent agree that the agent will handle principal's affairs.  So Walter is the principal and Li & Qiang is the agent. Then, “Under a commission contract for value, if the principal sustains any loss due to the fault of the agent, the principal may claim damages. Under a gratuitous agency appointment contract, if the principal sustains any loss due to the agent's intentional misconduct or gross negligence, the principal may claim damages. Where the agent acts beyond the scope of authorization, thereby causing loss to the principal, it shall pay damages.”  In this case, Li and his cousin collude to get a $100,000 difference from the client. So it should be the situation that under the commission contract for value, the principal Walter sustains loss due to the fault of the agent Li, the principal Walter may claim damages.

As for the loss of Qiang in this case, he should file a lawsuit against Li after paying for Walter’s damages jointly with Li. According to relative laws, “In case there are several principals, one or several of them agree to rescind the agency relation without the consent of other principals, which thereby causes damages, the principal who proposes to rescind the agency relationship shall undertake liabilities.”  In this case, it is Li that fails to negotiate with other entrusted agent Qiang, and the acts performed infringe upon the interests of the principal Walter. So Qiang shall have the rights to sue Li for asking him to undertake civil liabilities.

From this case, we can see the problem of “risk event”. Thus it is of great significance to minimize risk by establishing a limited partnership or a limited cooperation. In a limited partnership, Qiang can requires to be the limited partner, who shall at the time of entering into such partnership contribute thereto a sum or sums as capital or property valued at a stated amount   A company, usually called a limited liability company, is a particular form of business entity whose owners have limited personal liability for the debts and actions of the company.  Therefore, in case of the situation like this case, Qiang should take as much responsibility as in proportion to his investment in the company or a limited partnership.

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