A Partner Cannot "Wrongfully" Dissociate from a Partnership

question 58

True/False

A partner cannot "wrongfully" dissociate from a partnership.

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Definitions:

Bankruptcy Abuse Prevention

Part of the legal measures designed to prevent misuse of bankruptcy laws, including provisions to ensure that filings are genuine and to deter fraudulent or reckless bankruptcy claims.

Chapter 7

A provision of the bankruptcy code in the United States that provides for "liquidation," whereby a debtor's non-exempt assets are sold and the proceeds are used to pay creditors.

Automatic Stay

A self-operating postponement of collection proceedings against a debtor who has filed a petition for bankruptcy.

Collection Proceedings

The legal process initiated by creditors to recover money owed by a debtor.