Which of the Following Is a Consequence of Failing to Give

question 34

Multiple Choice

Which of the following is a 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.

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Definitions:

Real Property

Real property refers to land, as well as anything permanently attached to the land, like buildings and houses.

Stock

Stock represents ownership in a corporation, entitling the holder to a share of the company's profits and assets.

Police Power

The inherent authority of a government to regulate behavior and enforce order within its territory for the betterment of the health, safety, morals, and general welfare of its inhabitants.

Public Health

The science and practice of protecting and improving the health of a community through education, disease prevention, and health policies.