Bernice Is Withdrawing from a Partnership in a State That

question 63

Essay

Bernice is withdrawing from a partnership in a state that adopted the UPA. How can she protect herself against liability on contracts the firm enters after her withdrawal?

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Definitions:

Interstate Commerce

Interstate commerce refers to the purchase, sale, or exchange of commodities, transportation of people, money or goods, and navigation of waters between different states.

Expressly Grants

Specifically provides or allocates rights, powers, or privileges in an explicit manner.

Constitution

The fundamental principles and laws of a nation, state, or social group that determine the powers and duties of the government and guarantee certain rights to the people.

Federal Judiciary

A branch of the U.S. government responsible for interpreting laws and administering justice through courts.