Quint and Reba Are Partners in Sofas Plus, a Furniture

question 20

Multiple Choice

Quint and Reba are partners in Sofas Plus, a furniture store. Quint dissociates from the business. This ends Quint's

• A)right to participate in the partnership business.
• B)right to have his interest in the partnership purchased by the firm.
• C)duty of care with respect to events that occurred before dissociation.
• D)all of the choices.

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Definitions:

Rembrandt Drawing

An artwork rendered in pencil, ink, or another medium by Rembrandt van Rijn, a renowned Dutch artist known for his paintings and drawings.

Breach Of Warranty

Occurs when one party fails to uphold a promise, claim, or assurance made under a warranty within a contract, which may result in legal action but does not typically nullify the agreement.

Breach Of Condition

A violation of a specific condition in a contract that justifies the non-breaching party to terminate the contract and seek compensation.

Implied Repudiation

A situation where one party’s actions or inactions signal a refusal to fulfill their contractual obligations, suggesting an intention to breach the contract despite no explicit declaration.