What Is the Consequence of Failing to Give Adequate Notice

question 71

Multiple Choice

What is the consequence of failing to give adequate notice of partnership dissolution to third parties?

• A) The partnership's attempted dissolution will be ineffective.
• B) The partners will be prevented from receiving their share of partnership assets.
• C) There will be a court-ordered waiting period before partners can receive their share of partnership assets.
• D) Partners might be personally liable for transactions entered into by other partners occurring after the partnership dissolution.
• E) Partners could be liable for criminal penalties under the Uniform Partnership Act.

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