Partner’s disassociation: means that the partner can no longer act on the firms behalf. A partner can be disassociated from the partnership when any of the following occurs, When a partner gives notice to the partnership expressing will to withdraw as a partner. The frim expels him or her from the partnership in accordance with the agreement, in case of violation of terms of agreement or unlawful conduct. When a partner becomes bankrupt or When the partner dies. To explain: if an individual partner can simply decide to leave the partnership, what are the legal recourse against that partner.

Question

Want to see the full answer?

Answer 1

Question

Chapter 16, Problem 16.4Q

To determine

Partner’s disassociation: means that the partner can no longer act on the firms behalf. A partner can be disassociated from the partnership when any of the following occurs,

When a partner gives notice to the partnership expressing will to withdraw as a partner.

The frim expels him or her from the partnership in accordance with the agreement, in case of violation of terms of agreement or unlawful conduct.

When a partner becomes bankrupt or

When the partner dies.

To explain: if an individual partner can simply decide to leave the partnership, what are the legal recourse against that partner.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Students have asked these similar questions

Can partners limit the right of a partner to commit their partnership to contracts? Would such an agreement be binding (a) on the partners and (b) on outsiders?

Compare and contrast the benefits and detriment of being a general partner versus a limited partner of a limited partnership?

If you decide to join a partnership, which type of admission would you choose and why?

Answer 2

Question

Chapter 16, Problem 16.4Q

To determine

Partner’s disassociation: means that the partner can no longer act on the firms behalf. A partner can be disassociated from the partnership when any of the following occurs,

When a partner gives notice to the partnership expressing will to withdraw as a partner.

The frim expels him or her from the partnership in accordance with the agreement, in case of violation of terms of agreement or unlawful conduct.

When a partner becomes bankrupt or

When the partner dies.

To explain: if an individual partner can simply decide to leave the partnership, what are the legal recourse against that partner.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 3

Question

Chapter 16, Problem 16.4Q

To determine

Partner’s disassociation: means that the partner can no longer act on the firms behalf. A partner can be disassociated from the partnership when any of the following occurs,

When a partner gives notice to the partnership expressing will to withdraw as a partner.

The frim expels him or her from the partnership in accordance with the agreement, in case of violation of terms of agreement or unlawful conduct.

When a partner becomes bankrupt or

When the partner dies.

To explain: if an individual partner can simply decide to leave the partnership, what are the legal recourse against that partner.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 4

Question

Chapter 16, Problem 16.4Q

To determine

Partner’s disassociation: means that the partner can no longer act on the firms behalf. A partner can be disassociated from the partnership when any of the following occurs,

When a partner gives notice to the partnership expressing will to withdraw as a partner.

The frim expels him or her from the partnership in accordance with the agreement, in case of violation of terms of agreement or unlawful conduct.

When a partner becomes bankrupt or

When the partner dies.

To explain: if an individual partner can simply decide to leave the partnership, what are the legal recourse against that partner.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 5

Chapter 16, Problem 16.4Q

To determine

Partner’s disassociation: means that the partner can no longer act on the firms behalf. A partner can be disassociated from the partnership when any of the following occurs,

When a partner gives notice to the partnership expressing will to withdraw as a partner.

The frim expels him or her from the partnership in accordance with the agreement, in case of violation of terms of agreement or unlawful conduct.

When a partner becomes bankrupt or

When the partner dies.

To explain: if an individual partner can simply decide to leave the partnership, what are the legal recourse against that partner.

Answer 6

Chapter 16, Problem 16.4Q

To determine

Partner’s disassociation: means that the partner can no longer act on the firms behalf. A partner can be disassociated from the partnership when any of the following occurs,

When a partner gives notice to the partnership expressing will to withdraw as a partner.

The frim expels him or her from the partnership in accordance with the agreement, in case of violation of terms of agreement or unlawful conduct.

When a partner becomes bankrupt or

When the partner dies.

To explain: if an individual partner can simply decide to leave the partnership, what are the legal recourse against that partner.

Answer 7

Chapter 16, Problem 16.4Q

To determine

Partner’s disassociation: means that the partner can no longer act on the firms behalf. A partner can be disassociated from the partnership when any of the following occurs,

When a partner gives notice to the partnership expressing will to withdraw as a partner.

The frim expels him or her from the partnership in accordance with the agreement, in case of violation of terms of agreement or unlawful conduct.

When a partner becomes bankrupt or

When the partner dies.

To explain: if an individual partner can simply decide to leave the partnership, what are the legal recourse against that partner.

Answer 8

Expert Solution & Answer

Answer 9

Expert Solution & Answer

Answer 10

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 11

Ch. 16 - What are the major causes of a dissolution? What...Ch. 16 - Prob. 16.2Q Ch. 16 - Prob. 16.3Q Ch. 16 - Prob. 16.4Q Ch. 16 - Contrast a lump-sum liquidation with an...Ch. 16 - Prob. 16.6Q Ch. 16 - Prob. 16.7Q Ch. 16 - Prob. 16.8Q Ch. 16 - Prob. 16.9Q Ch. 16 - Prob. 16.10Q

Solution Summary: The author explains that a partner can be disassociated from the partnership if he or she gives notice to the partner and the frim expels him or her in accordance with the agreement.

Want to see the full answer?

Chapter 16 Solutions