Asked by Suraksha Lamichhane on May 29, 2024
Verified
Amos,Beverly,Carlos,and Dan were partners in a partnership in which the agreement states that the partnership will continue until 2010.Amos died in 2006.What vote of the remaining partners is necessary to continue operating the partnership business?
A) A simple majority vote
B) A two-thirds majority vote
C) A three-quarters majority vote
D) A unanimous vote
Partnership Agreement
A legal document that specifies the rights and obligations of partners within a business partnership.
Deceased Partner
A Deceased Partner is a member of a partnership who has passed away, raising considerations regarding the continuation or dissolution of the business under partnership laws.
Majority Vote
A decision-making process where more than half of the votes cast by members eligible to vote are needed to pass a resolution or make a decision.
- Determine the circumstances that lead to the dissociation and dissolution of a partnership.
Verified Answer
Learning Objectives
- Determine the circumstances that lead to the dissociation and dissolution of a partnership.
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