All flashcards

20 cards

1May an individual partner bind a partnership?
2Are partners liable for the obligations of the partnership?
3If a partner is personally liable for a judgment against a partnership, must a judgment creditor first attempt to satisfy a judgment from the partn...
4Under the Revised Uniform Partnership Act (RUPA), what are the five exceptions to the exhaustion requirement?
5A supplier had been providing raw materials to a general partnership’s business. Generally, the supplier delivered materials on the first of every ...
6A failing general partnership owned an oil well in a foreign country. The oil well was valuable, though none of the partners were quite sure how to...
7May a liable partner seek contribution from other partners?
8What is partnership by estoppel?
9Is an incoming partner who joins an existing partnership personally liable for all partnership obligations?
10Is a dissociating partner who leaves an existing partnership personally liable for partnership obligations incurred before dissociation?
11May a partnership own property in its own name?
12May a partnership own property that is not owned by the individual partners?
13May partnership property be transferred?
14May an individual partner transfer partnership property held in the individual partner’s name?
15Several friends formed a general partnership to manage rental properties. The partnership was highly successful and regularly issued distributions ...
16Are partners entitled to inspect the partnership’s books and records?
17Does a partner have the right to dissociate from the partnership?
18Under what circumstances is a partner’s dissociation from a partnership wrongful?
19May a dissociated partner bind her former partnership?
20May a partnership be bound by a partner’s actions that occur after the partnership has been dissolved?

May an individual partner bind a partnership?

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