3712. Joint Ventures

3712. Joint Ventures Instruction No 1 Request by Plaintiff Given as Proposed Refused Withdrawn Request by Defendant Given as Modified Requested by Given on Court's Motion Judge Instruction No 1 Each of the members of a joint venture, and the joint venture itself, are responsible for the wrongful conduct of a member acting in furtherance of the venture. You must decide whether a joint venture was created in this case. A joint venture exists if all of the following have been proved: 1. 2. 3. 4. Two or more persons or business entities combine their property, skill, or knowledge with the intent to carry out a single business undertaking; Each has an ownership interest in the business; They have joint control over the business, even if they agree to delegate control; and They agree to share the profits and losses of the business. A joint venture can be formed by a written or an oral agreement or by an agreement implied by the parties' conduct. ________________________________________________________________________________ New September 2003; Revised June 2011, December 2011