For a monetary remedy from a joint family venture, what two criteria must be met?

The rationale behind the necessity for the existence of a joint venture and claimants’ contributions as criteria for a monetary remedy from a joint family venture lies in the fundamental nature of how joint ventures operate and the principles of equity.

A joint family venture is typically characterized by a collaborative arrangement between parties, often involving shared goals, resources, and efforts over a period. Establishing that a joint venture exists ensures that there is a recognized partnership or cooperative spirit aligning the involved parties, which is essential in any legal claim pertaining to shared benefits or liabilities.

Additionally, the claimants’ contributions are equally critical. This criterion acknowledges that for claimants to seek a monetary remedy, they must have actively participated in the venture and contributed in a meaningful way—be it through financial investments, labor, or other resources. This principle is rooted in the idea of equity, which seeks to ensure that parties who contribute to a joint effort receive appropriate recognition and recompense for their involvement.

The other criteria mentioned in the other options do not sufficiently encapsulate the necessary conditions to establish a claim for a monetary remedy in the context of a joint family venture, as they do not directly relate to the shared venture itself and the tangible contributions made by claimants.