Absent an Agreement Otherwise, Upon Dissolution Under the UPA a Partner

question 4

Multiple Choice

Absent an agreement otherwise, upon dissolution under the UPA a partner is entitled to which of the following after payment of partnership creditors?

• A)A share of profits in proportion to his capital contribution.
• B)Shares of profits dependent upon the capital and time he contributed to the partnership.
• C)Repayment of his loans to the partnership, capital contribution, and a share of the profits.
• D)The UPA requires that the partners have an agreement or else they must seek a court order distributing the remaining assets.

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Definitions:

Calories

Units of energy that measure the amount of energy food provides to the body when consumed.

Fat

A nutrient consisting of triglycerides that is one of the primary sources of energy for the body and is also vital for insulating the body and protecting organs.

Convulsions

Sudden, involuntary muscle contractions and relaxations, often symptomatic of a neurological condition.

Deficiency

A lack or shortage, particularly of nutrients or essential substances in the body, leading to health issues.