When a Partnership Is Dissolved by the Act of a Partner

question 37

Multiple Choice

When a partnership is dissolved by the act of a partner, notice:

• A) is not required.
• B) must be given to the other partners only.
• C) must be given to third persons only.
• D) must be given to both other partners and third persons.

---

Definitions:

Remortgage Without Consent

The act of obtaining a new mortgage on a property without the approval or agreement of the existing lender or relevant parties who have an interest in the property.

Municipal Taxes

Local government levies imposed on property owners to fund public services such as schools, roads, and emergency services.

Insure Premises

The process of obtaining insurance coverage for physical property against loss or damage.

Collateral Mortgage

A type of mortgage where the borrower offers property as security for the loan, beyond the purchased property itself.