Asked by Jacob Matthews on May 29, 2024
Verified
Under the RUPA,when the dissociated partner has not wrongfully dissociated and there is no partnership agreement on the issue,he should be paid within 120 days after his written demand.
RUPA
The Revised Uniform Partnership Act, which is a set of laws intended to govern the operations of partnerships in the United States.
Wrongfully Dissociated
Incorrectly separating from a partnership or organization in violation of the terms or conditions of agreement.
- Comprehend the entitlements and obligations of a partner following dissociation.
Verified Answer
DM
Daniel MoranJun 02, 2024
Final Answer :
True
Explanation :
When the dissociated partner has not wrongfully dissociated and there is no partnership agreement on the issue,the RUPA requires the partnership to pay the dissociated partner in cash within 120 days after he has demanded payment in writing.
Learning Objectives
- Comprehend the entitlements and obligations of a partner following dissociation.
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