Leonard,Ted,and Julius Are Partners at Jutle Associates

question 48

Multiple Choice

Leonard,Ted,and Julius are partners at Jutle Associates.They signed a two-year lease agreement with Property Company for business purposes.Five months into the new agreement,Leonard dissociates from the partnership.Under what circumstances will Leonard no longer be liable on the lease agreement?

• A)Leonard gives proper notice to Property Company of his intent to dissociate from Jutle.
• B)The three partners and Property Company enter into an appropriate novation agreement.
• C)Leonard filed a Statement of Dissociation more than 90 days prior to leaving the partnership.
• D)Property Company will not serve to relieve Leonard of liability under the lease agreement.

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Definitions:

Hypothalamus

A brain structure involved in emotions and drives vital to survival; it regulates the autonomic nervous system.

Generalized Anxiety Disorder

A psychological condition characterized by a state of excessive, uncontrollable, and often irrational worry about everyday things that is disproportionate to the actual source of worry.

DSM

The Diagnostic and Statistical Manual of Mental Disorders, a comprehensive classification of mental disorders published by the American Psychiatric Association.

Continuous State

A condition or situation that remains unchanged over time, without interruption or variation.