Written Consent of All Partners Is Required for the Addition

question 65

True/False

Written consent of all partners is required for the addition of a general partner if the partnership agreement so provides or if the partnership agreement fails to deal with this issue.

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Definitions:

Market Economy

A type of economic system where supply and demand from consumers primarily determine the production of goods and services.

High Earnings

A term typically referring to significantly above-average income or profits.

Automated Production

The use of technology and machinery to control production processes, reducing the need for human labor.

Cost-reducing

Efforts or strategies implemented to lower production expenses, improve efficiency, and increase profitability.