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1.
(p. 814)
Before a partnership may be terminated, the partnership must experience the winding-up
stage, but not the dissolution stage.
2.
(p. 817)
If a partner dissolves a partnership in violation of the partnership agreement, the partner
can be held liable for wrongful dissolution.
3.
(p. 816)
A partner being expelled from the partnership in accordance with the partnership
agreement is not a reason for rightful dissolution of the partnership.
4.
(p. 823)
Remaining partners have a right to continue a partnership after dissolution.
5.
(p. 819)
When a partnership is dissolved based upon the withdrawal of a partner, that partner no
longer has actual authority to bind the partnership.
6.
(p. 819)
During the winding-up process, the partners may not engage in a business that competes
with the partnership business.
7.
(p. 819)
During the winding-up process, the partners must still fulfill their fiduciary duty to one
another in the sense that they must disclose all information about the partnership assets.
8.
(p. 824)
In the case of a limited partnership, if the partners do not correctly fill or do not file the
certificate of limited partnership with the secretary of state, the limited partners will not receive
limited liability.
9.
(p. 825)
A general partner has unlimited personal liability for the debts of the limited partnership.
10.
(p. 824)
Only officers in a limited partnership have a say in the management of the company.
11.
(p. 814)
Which of the following stages must be experienced before the termination of a
partnership may be considered complete?
12.
(p. 814)
When is dissolution of a partnership considered complete?
13.
(p. 814)
When is the winding-up stage in the termination of a partnership complete?
14.
(p. 815)
Which of the following is defined as the change in the relation of the partners caused by
any partner's ceasing to be associated with the carrying on, as distinguished from the winding up,
of the business?
15.
(p. 815)
Which of the following may cause the dissolution of a partnership?
16.
(p. 815)
Which of the following is a type of partnership, if any, that does not specify the objective
or duration of the partnership?
17.
(p. 815-817)
Which of the following is true regarding rights of partners in regard to a rightful
dissolution of a partnership?
18.
(p. 817)
Which of the following terms is used when a partner dissolves a partnership in violation
of the partnership agreement?
19.
(p. 817)
Which of the following is true if a partner wrongfully dissolves a partnership?
20.
(p. 816)
Which of the following was the ruling of the court on appeal in the case of
In re Leah
Beth Woskob, debtor; Alex Woskob; Helen Woskob; the Estate of Victor Woskob v. Leah Beth
Woskob
, the case in the text involving a dispute regarding whether a partnership was dissolved
prior to the death of one of the partners making the attempt of the other partner to buy out the
deceased partner's interest untimely?
21.
(p. 826-827)
Which of the following was the result in the Case Opener involving whether a
partner wrongfully caused dissolution of a partnership thereby barring him from recovering
damages from other partners based upon improvements to an office building that were not
properly approved?
22.
(p. 815-816)
Which of the following is
false
regarding dissolution of a partnership either by act
of a partner or by operation of law?
23.
(p. 818)
Which of the following was the result on appeal in
Miller v. Bill & Carolyn Ltd. P'Ship
, the
case in the text involving whether a bankruptcy trustee was entitled to dissolution of a limited
partnership in which the debtor was a limited partner?
24.
(p. 820)
In India dissolution of ______ refers to the dissolving of all partners' relationships and the
termination of the partnership business while dissolution of ______ refers to the termination of
the relationship between certain partners but the continuation of the partnership's business.
25.
(p. 822)
Which of the following was the result on appeal in
Robert M. Tafoya v. Dee S. Perkins
involving a sale of partnership property and the applicable statute of limitations on an action for
an accounting when there was no agreement on the matter between the withdrawing partner and
other partner involved?
