Multiple Choice
[Partnership Agreement] Rufus, Sven, and Igor are partners in a Health Club. They executed a partnership agreement ten years ago. Rufus and Sven want to grow the company and approach Igor with their ideas. First, they want to add two partners into the partnership who have extensive capital. Second, they want to move the club into a new direction, by adding a restaurant and a casino. Third, they want to purchase new exercise equipment from SportsCo. Igor doesn't want to add new partners and despises the idea of adding the restaurant and casino. Igor agrees that new equipment is needed, but insists they continue to purchase equipment from HealthCo. Rufus and Sven tell Igor, that he's outvoted and also tell him they want to revise the partnership agreement's provision regarding mandatory retirement.
-Can the two potential new partners be added to the partnership without Igor's vote in favor of doing so?
A) Yes, because there is a majority vote in favor of the admission of new partners.
B) No, because there is no unanimous vote in favor of the admission of new partners.
C) No, because there is no 4/5 vote in favor of the admission of new partners.
D) Yes, but only if all material facts about the new partners have been disclosed to Igor.
E) Yes, because the two potential partners will bring significant capital into the partnership.
Correct Answer:

Verified
Correct Answer:
Verified
Q80: [Car Repair] Gordon and Leo are partners
Q81: [Grooming Grievances] Andrew, Marie, and Cruz formed
Q82: In their partnership agreement, Tulum is responsible
Q83: Unless otherwise stated in the partnership agreement,
Q84: Under the Uniform Partnership Act regarding personal
Q85: Nadine and Lawrence are partners in a
Q87: [Health Food] Josh and Merida are partners
Q88: [Partnership Agreement] Rufus, Sven, and Igor are
Q89: Tomlin is a partner in the accounting
Q90: [Car Repair] Gordon and Leo are partners