All flashcards
16 cards
1Under the Revised Uniform Partnership Act (RUPA), does the departure of a partner automatically cause the dissolution of the partnership?
2Will any reason justify dissolution of a partnership?
3May a court order the dissolution of a partnership?
4A senior partner decided to leave an at-will general partnership. The partnership agreement clearly set out the process for valuing the senior part...
5What is the winding up of a partnership?
6Does the winding-up process include a settlement of all accounts?
7May all partners participate in the winding up of the partnership?
8Does a partner in a term partnership have the power to dissociate or withdraw at any time?
9In an at-will partnership, what is the test for whether a partner’s dissociation or withdrawal is wrongful?
10Is a partner’s voluntary withdrawal from the partnership the only event that will cause a partner to be dissociated from a general partnership?
11A group of college friends formed a general partnership to remodel a small shopping mall. Each partner had a unique set of skills vital to the proj...
12A group of friends formed a general partnership to remodel a shopping center. The partners drew up a partnership agreement but failed to include a ...
13There were seven partners in a general partnership: six junior partners and one senior partner. The junior partners were all good friends and extre...
14A partner decided to dissociate from an at-will general partnership. The departure triggered a provision in the partnership agreement dissolving th...
15A general partnership with five partners was forced to dissolve. After selling all of its assets, the partnership had $100,000. The partnership owe...
16A general partnership was experiencing financial distress and was forced to ask one of its senior partners for a $45,000 loan. The senior partner a...
All flashcards
16 cards