Three friends—Betty, Niles, and Dane—form a general partners…
Three friends—Betty, Niles, and Dane—form a general partnership called 360 Tech to sell software. Betty contributes $80,000 to the business, Niles contributes $15,000, and Dane contributes only his labor and industry expertise. The partners never create a written partnership agreement and never discuss how profits or losses will be divided. At the end of the first year, the partnership earns a profit of $90,000. Betty argues she should receive the largest share because she contributed the most money. Which of the following is the most likely result under partnership law?