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(Solved): Bob starts up Bobs Cleaners, a drycleaning service, and leases space in a building owned by Ray. ...



Bob starts up Bob’s Cleaners, a drycleaning service, and leases space in a building owned by Ray. The lease requires Bob to pay Ray a base rental of $1,000, plus 10 percent of Bob’s Cleaners’s profits, each month. The term is two years. Bob hires Glenda to work at the store at an hourly wage of $9.00, plus a commission of 10 percent of the first-year profits from new restaurant customers Glenda brings to the business. The term is also two years. Bob and Ray are not partners, because the lease includes a “base rental.” partners in a partnership for two years. not partners, because Ray does not have an ownership interest or management rights in the drycleaning business. not partners, because the rent includes only 10 percent of the profits.



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