1. Each of the following are examples of dissolutions that occur due to acts of
ID: 2592871 • Letter: 1
Question
1. Each of the following are examples of dissolutions that occur due to acts of the court except?
a. A partner is adjudicated insane
b. The partnership becomes impractical
c. A partner becomes incapable of carrying out her duties established by the partnership
d. A partnership engages in activity that suddenly becomes illegal
e. Partners disagree vehemently about the management of the partnership, such that the partnership cannot practically exist.
2.What is the name for the relationship established between a partner who has management responsibility for the partnership and assumes
unlimited personal liability for the debts of the partnership, and a partner who assumes no liability for the partnership beyond the capital he or
she invested in the business?
a. A general partnership
b. A limited liability partnership
c. A limited partnership
d. A dissolved partnership
e. A wrongfully dissolved partnership
Explanation / Answer
1. Each of the following are examples of dissolutions that occur due to acts of the court except?
Answer:
c. A partner becomes incapable of carrying out her duties established by the partnership
2.What is the name for the relationship established between a partner who has management responsibility for the partnership and assumes
unlimited personal liability for the debts of the partnership, and a partner who assumes no liability for the partnership beyond the capital he or
she invested in the business?
Answer:
c. A limited partnership
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