To Avoid Winding Up

question 32

Multiple Choice

To avoid winding up:

• A)a unanimous vote of all partners,who have not wrongfully dissociated,is necessary to continue business.
• B)two-thirds majority of partners wanting to continue business is necessary.
• C)the court has to pass judgment to continue business.
• D)the remaining partners must file a continuing statement with the public office.

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Definitions:

Trade Agreement

A treaty between two or more nations regarding the terms of trade between them, often aiming to reduce tariffs and foster trade.

Central America

A region located in the southernmost part of North America, consisting of seven countries between Mexico to the north and Colombia to the south, known for its diverse geography and cultures.

International Monetary Fund

An international organization that aims to promote global economic stability and growth by providing monetary cooperation and financial assistance to its member countries.

Trade Among Participating Countries

The exchange of goods and services between member countries under agreed terms.