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Asked by Ramon Gonzalez on Jun 28, 2024

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The partners of Green Grow Landscaping no longer feel that James is contributing to the firm's business. Green Grow has no partnership agreement. James may not transfer his share in the partnership to another person.

Green Grow Landscaping

A business specializing in designing, implementing, and maintaining gardens and outdoor spaces.

Partnership Agreement

A contract between partners in a business that outlines the rights, responsibilities, and shares of each partner.

Share Transfer

The process of transferring ownership of shares from one person or entity to another in a corporation.

  • Comprehend the regulations surrounding the admission of new partners and the allocation of partnership shares.
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Verified Answer

JE
Jamie EllenJun 29, 2024
Final Answer :
False
Explanation :
Without a partnership agreement specifying otherwise, a partner in a general partnership may transfer their economic rights (such as the share of profits or losses) to another person, but not their managerial or decision-making rights in the partnership.

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