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PART VI: UNINCORPORATED BUSINESS ASSOCIATIONS.
Match the following:
a. An association of two or more persons to carry on as co-owners a business for
profit. b. An organization has a separate legal existence from its members/owners.
c. A creditor must bring suit against all partners as a group, and the judgment must be against all of the
obligors. d. Total money and property contributed and dedicated by the partners for use by the
partnership.
e. Combination of all assets of two or more
entities. f. The right one person has to choose
her partners.
g. Imposes partnership duties and liabilities on a nonpartner who has either represented himself or
consented to be represented as a partner.
h. Situations in which the RUPA requires a partnership to wind up and terminate; under the UPA, the
change in
relation of partners caused by any partner’s ceasing to be associated in the carrying on of the business.
i. Type of judicial lien against a partner’s transferable interest.
j. Completing unfinished business, collecting debts, and distributing assets to contributors and
partners; also called liquidation.
k. Noncorporate business organization that provides limited liability to all of its owners and permits all
of its members to participate in management of the business.
l. Under the RUPA, a partner's ceasing to be associated in carrying on of the business.
m. A partnership formed by two or more persons under the laws of a state and having one or more
general partners and one or more limited partners.
n. General partnership that, by making a statutorily required filing, limits the liability of its partners for some
or all of the partnership's obligations.
o. A group of individuals having no legal existence separate from that of its members.
1. limited liability company
2. partnership by estoppel
POINTS: 1
3. delectus personae
4. limited partnership
5. winding up
POINTS: 1
6. merger
7. dissolution
8. charging order
9. partnership
ANSWER: a
10. legal entity
POINTS: 1
11. dissociation
12. limited liability partnership
13. partnership capital
14. joint liability
15. legal aggregate
ANSWER: o
