Asked by
Aurum Jewels Limited Group
on Nov 21, 2024
Verified
Which statement is true regarding the rights of partners to a rightful dissolution of a partnership?
A) All partners can demand that the partnership be wound-up but only the managing partner may participate in the wind-up.
B) The partners may continue the partnership upon majority vote.
C) If the partners unanimously agree, they can continue the business using the partnership's name.
D) Rightful dissolution is by act of a partner only.
E) Rightful dissolution is by act of court only.
Rightful Dissolution
The legally justified process of formally ending the existence of an entity, such as a corporation or partnership.
Managing Partner
A member of a partnership who is responsible for its day-to-day operations and has the authority to make managerial decisions.
- Familiarize oneself with the legal regulations and conceptual foundation related to the dissolution of partnerships.
Verified Answer
SS
Learning Objectives
- Familiarize oneself with the legal regulations and conceptual foundation related to the dissolution of partnerships.