Dissolving a Limited Partnership Requires

question 80

Multiple Choice

Dissolving a limited partnership requires:

• A) a unanimous vote among all partners.
• B) a unanimous vote of the general partners and a majority vote of the limited partners.
• C) a unanimous vote of the general partners and consent of any limited partner who owns a majority of the rights to receive a distribution as a limited partner.
• D) a unanimous vote of the limited partners and consent of any general partner who owns a majority of the rights to receive a distribution as a general partner.

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Definitions:

Resistance Point

In negotiation, the least favorable point at which a party is willing to accept a deal, beyond which they prefer to walk away.

BATNA

Best Alternative to a Negotiated Agreement; the best option one has if current negotiations fail.

Fixed-Pie Bias

The misconception in negotiations that the 'pie' or total available benefit is fixed, leading to competitive rather than cooperative strategies.

Conflicts of Interest

Situations where an individual's or organization's private interests conflict with their professional duties or responsibilities, leading to potential bias or unethical decisions.