Asked by Nicole Macario on Jun 10, 2024
Verified
According to the RUPA:
A) partners have no liability for the obligations of the partnership.
B) a partnership cannot sue or be sued in its own name.
C) a partnership does not have a life apart from its owners.
D) partnerships have continuity of existence.
RUPA
An acronym for the Revised Uniform Partnership Act, which is a statutory law that governs the formation, operation, and dissolution of partnerships in the United States.
Continuity of Existence
A characteristic of certain business entities that ensures their existence persists regardless of changes in ownership or membership.
- Understand the duration of various commercial organizations and the elements influencing their persistence.
Verified Answer
JA
Jessica AnguianoJun 17, 2024
Final Answer :
D
Explanation :
The partnership has a life apart from its owners.When a partner dies or otherwise leaves the business,the partnership usually continues.
Learning Objectives
- Understand the duration of various commercial organizations and the elements influencing their persistence.
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