Under the UPA, After Dissolution

question 52

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:

Mediator

A neutral third party who facilitates negotiation and conflict resolution between disputing parties.

Labor Dispute

A conflict between employers and employees or between employees themselves, typically over issues like wages, working conditions, and union representation.

Impartial

Not biased or partial; fair and just, treating all rivals or disputants equally.

Arbitrator

An independent third party chosen to settle a dispute without involving the courts.