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The partners of College Assoc., a general partnership, decided to dissolve the partnership and agreed that none of the partners would continue to use the partnership name. Under the Revised Uniform Partnership Act, which of the following events will occur on dissolution of the partnership?
Suggested Answer: C
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Choice "c" is correct. "No - Yes."
Rule: Upon the dissolution of the partnership, each of the partners continues to have liability for partnership debts. Upon dissolution of the partnership each of the partners will continue to have apparent authority. The apparent authority of a partner can only be negated upon proper notice to third parties.
Choices "a", "b", and "d" are incorrect, per the above rule.
7 comments · newest first
VA
Vashti
11 months ago
Seems too easy, are there no other steps involved?
RO
Ronald
12 months ago
Yup, they have to follow the Revised Uniform Partnership Act.
TA
Tawna
12 months ago
Wait, can they really just stop using the name like that?
GA
Garry
12 months ago
Totally agree, that's how it works!
MA
Malinda
1 year ago
Partnerships dissolve when partners agree to end it.
EL
Eladia
1 year ago
Okay, I've got a strategy in mind. I think developing custom APIs on the company's network that are invokable by Salesforce would be the way to go.
GA
Gaston
1 year ago
Hmm, I'm a bit unsure about this one. I know Aura Components are more modular, but I'm not sure about the specifics of how that compares to Visualforce. I'll need to review the differences again.