Asked by Austin Brown on Mar 10, 2024
Verified
Which of the following causes dissociation?
A) A partner's transfer of his transferable partnership interest
B) A creditor's obtaining a charging order
C) A partner's wrongful conduct materially affecting the partnership business
D) The addition of a new partner to a partnership
Transferable Partnership Interest
The right of a partner to transfer their share of the partnership's profits, losses, and distributions to another party, subject to the terms of the partnership agreement.
Charging Order
A court order directing the interests of a debtor in a partnership or LLC to be given to a creditor, as a means of satisfying the debtor's outstanding debt.
Wrongful Conduct
Actions or behaviors that are illegal, unethical, or otherwise improper and can lead to liability.
- Understand the concepts of wrongful and nonwrongful dissociation in partnerships.
Verified Answer
Learning Objectives
- Understand the concepts of wrongful and nonwrongful dissociation in partnerships.
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