Question
1. Each of the following are examples of dissolutions that occur due to acts of the court except ? a. A partner is adjudicated insane
1. Each of the following are examples of dissolutions that occur due to acts of the court except?
a. A partner is adjudicated insane
b. The partnership becomes impractical
c. A partner becomes incapable of carrying out her duties established by the partnership
d. A partnership engages in activity that suddenly becomes illegal
e. Partners disagree vehemently about the management of the partnership, such that the partnership cannot practically exist.
2.What is the name for the relationship established between a partner who has management responsibility for the partnership and assumes unlimited personal liability for the debts of the partnership, and a partner who assumes no liability for the partnership beyond the capital he or she invested in the business?
a. A general partnership
b. A limited liability partnership
c. A limited partnership
d. A dissolved partnership
e. A wrongfully dissolved partnership
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