Fact Pattern 3-3 Bryn, Cornell, and Duke Are General Partners in Equity Lending

question 21

Multiple Choice

Fact Pattern 3-3
Bryn, Cornell, and Duke are general partners in Equity Lending, a consumer credit, mortgage, and investment firm. Their agreement states that it is a breach of the agreement for any partner to assign his or her interest to a creditor without the consent of the other partners.
-Refer to Fact Pattern 3-3.Cornell's assignment of his interest in Equity Lending to Financial Consultants Corporation results in

• A) ​nothing with respect to Cornell or Equity Lending.
• B) ​the automatic termination of Equity Lending's legal existence.
• C) ​Cornell's liability for all of Equity Lending's debts.
• D) ​Cornell's wrongful dissociation and liability for any damages.

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Definitions:

Ozone

Triatomic oxygen (O3); an oxygen molecule consisting of three bonded oxygen atoms. The ozone layer in the Earth’s stratosphere helps protect the atmosphere from harmful solar ultraviolet radiation.

CFCs

Chlorofluorocarbons, a class of chemicals used in refrigerants and aerosol propellants, known to contribute to ozone layer depletion.

Upper Atmosphere

The region of Earth's atmosphere that is above the troposphere, including the stratosphere, mesosphere, thermosphere, and exosphere.

A/C Circuit

A closed path designed for the flow of electrical current to operate air conditioning systems, including components such as compressors, motors, and capacitors.