Exam 19: Partnership Operation and Termination

State atleast five duties that partners owe each other and five rights that each partner possesses.

Under the Uniform Partnership Act UPA),dissolution of a partnership is said to be by the operation of law when:

A court order that directs a partnership to pay a partner's judgment creditor the distribution that the partner would normally receive is called _____.

_____ is the theory that a new partner can only be admitted to a firm with the unanimous consent of all.

Abby,Igor,Ted,and Tim were operating a restaurant in partnership.Ted received a letter from his university offering him an opportunity to teach the other students.Since,Ted always wanted to teach,he left the partnership.The partnership firm wanted to announce that Ted was no longer their partner since Ted had been handling a lot of purchases and dealing with some big customers.Which of the following statements could they file in order to do so?

As per the Uniform Partnership Act,a partnership is terminated on dissolution.

Under the Uniform Partnership Act,what are the five actions that no single partner has implied or apparent authority to do and hence cannot hold the firm liable?

A judgment creditor has the right to obtain a charging order.

The Uniform Partnership Act and the Revised Uniform Partnership Act do not dictate what relations among partners must be.

Under the Uniform Partnership Act,in which of the following cases would a dissolution occur?

State the ten different causes of dissociation.

For tortuous acts,the partners are said to be jointly and severally liable under both Uniform Partnership Act UPA)and Revised Uniform Partnership Act RUPA),and the plaintiff may separately sue one or more partners.