Under the UPA, After Dissolution

question 24

Multiple Choice

Under the UPA, after dissolution:

• A) the partnership must be liquidated.
• B) the remaining partners have the right to continue the partnership if the majority of them agree.
• C) the remaining partners have the right to continue the partnership if the partnership was dissolved in contravention of the partnership agreement.
• D) the partnership must be liquidated only if the dissolution was caused by the expulsion of a partner in accordance with the partnership agreement.

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Definitions:

U.S. Supreme Court

The highest federal court in the United States, with ultimate appellate jurisdiction over all federal and state court cases that involve a point of federal law.

Critical Thinking

The act of examining and judging a matter with the purpose of forming a viewpoint.

Judiciousness

The quality of having sound judgment or being prudent, especially in practical affairs.

Interest-Based Negotiation

A negotiation strategy focusing on the underlying interests of the parties rather than their initial positions.