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LAW (125 Cards)

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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.

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,

Tags: Dissolution of LP
Source: p. 130, 1. Absatz nach Überschrift

Flashcard set info:

Author: Elisa

Main topic: Law

Topic: International Law

School / Univ.: Hanze Hogeschool

City: Groningen

Published: 14.02.2010

Tags: Exam Year 1

Card tags:

All cards (125)

? (1)

also see partnership by estopel (1)

Assault and Battery (2)

Business Organization (1)

Business Trust (2)

Chain-Style business operation (2)

Conversion - letzter Absatz (1)

Coporate Financing (1)

Coporate Personnel (1)

Disadvantages ot the sole proprietorship (1)

Dissolution LP (1)

Dissolution of LP (1)

Distributorship (2)

Fact versus Opinion (1)

False imprisonment (1)

Family Limited Liability Partnerships (FLLP) (1)

First Orginazational Meeting (1)

First sentence (2)

Foreign and Alien Coporation (1)

Formation of a Limited Partnership (1)

Formation of a LP (1)

Incorporation procedure (1)

INncorporation Precedure (1)

Joint stock company (2)

Joint venture (2)

last sentence (1)

Liabilities of limited partners (1)

Limited Liability Partnership (LLC) Liability (1)

Limited partners and Managment (1)

LLC (1)

Location Chartering (1)

Partnerships (1)

Payment for the franchise (2)

Payment of the franchise (1)

Preferred Stock (1)

Preferred stocks (1)

Pricing agreement (1)

Processing-Plant arrangement (2)

Profesional Corporation (P.C) (1)

Professional Corporation (1)

Professional Corporation (P.C) (1)

Promoter Liability (Promoter Activities) (1)

Restriction in the Articles of Incorpration (1)

Right of limited partners (1)

Self-defense (1)

Slander of Quality (1)

Slander of Title (1)

Termination of the franchise (2)

The publication requirement (1)

The scope of implied powers (1)

Trespass to Land (1)

Trespass to personal property (2)

Wrongful interfence with a contractual relationship (1)

Wrongful interference with a business relationship (2)

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