When the Dissolution of a Partnership Has Been Caused by Operation

question 26

True/False

When the dissolution of a partnership has been caused by operation of law, notice of such dissolution must be given to third persons.

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Definitions:

Governments Exempt

A status that exempts government entities from certain laws, taxes, or requirements that apply to private parties.

Due Diligence Defense

A defense in which the defendant argues that he or she applied the appropriate degree of attention, care, and research expected of a party in a given situation and had reasonable grounds to believe that certain facts and statements were accurate and had no omission of material facts.

Registration Statement

A document submitted to regulatory authorities detailing a company's financials and other significant information, used primarily during the issuance of new stock.

Prefiling Period

Prefiling period is the timeframe before the official submission or filing of a legal document or case in a court or regulatory body.