Lou,Pete,and Carl Are All Partners in a Feed Store Business

question 45

Multiple Choice

Lou,Pete,and Carl are all partners in a feed store business.Carl would like to retire but wants his son,Carl Jr.,to take his place as partner.Is there any way Carl can have his son become a partner?

• A)Yes,he can,but only by getting agreement from any two existing partners.
• B)Yes,he can,since partnership positions can be transferred through assignment.
• C)Yes,he can,with the consent of all existing partners.
• D)Yes,he can,by bringing Carl Jr.in as manager and then working him into a partner position.
• E)No,he can't,because it's only Carl's profits that can be assigned.

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