Asked by Julia Guerrero on Apr 30, 2024
Verified
Among three partners, unless they agree otherwise, unanimous consent is required to manage the business of the partnership.
Unanimous Consent
Agreement on a matter by all members of a group, committee, or assembly without any opposition.
Manage the Business
The process of overseeing and making decisions about the operations, finances, and strategy of a business to ensure its success and sustainability.
Three Partners
Refers to a business structure where three individuals engage in a partnership to conduct business together.
- Determine the duties and rights of partners in the governance of a partnership.
Verified Answer
ZK
Zybrea KnightMay 03, 2024
Final Answer :
False
Explanation :
In a partnership, management decisions typically do not require unanimous consent unless specifically agreed upon. Generally, ordinary business decisions can be made by a majority of the partners.
Learning Objectives
- Determine the duties and rights of partners in the governance of a partnership.