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78
Jack and Kyle are the only general partners of Foreign Auto Repair, a limited partnership. Jack dies in a sudden accident. Kyle wishes to continue the business of the firm and to continue as a general partner. Jack’s death results in
a. continuation of the firm, after a distribution of the assets.
b. continuation of the firm, as a general partnership.
c. continuation of the firm, if all the partners consent.
d. none of the above.
a. continuation of the firm, after a distribution of the assets.
b. continuation of the firm, as a general partnership.
c. continuation of the firm, if all the partners consent.
d. none of the above.
c. continuation of the firm, if all the partners consent.
Begründung:
Death, retirement etc. CAN dissolve partnership, BUT not if business can be continued by one/more general partner IN ACCORDANCE with their Certificate of LP OR by consent of all members,
Begründung:
Death, retirement etc. CAN dissolve partnership, BUT not if business can be continued by one/more general partner IN ACCORDANCE with their Certificate of LP OR by consent of all members,
Tags: Dissolution of LP
Source: p. 130, 1. Absatz nach Überschrift
Source: p. 130, 1. Absatz nach Überschrift
Flashcard info:
Author: Elisa
Main topic: Law
Topic: International Law
School / Univ.: Hanze Hogeschool
City: Groningen
Published: 14.02.2010