Question
Casey, Amy and John have a general partnership. Casey contributes $10,000 to the partnership, Amy contributes $50,000 to the partnership and John contributes $40,000. They
Casey, Amy and John have a general partnership. Casey contributes $10,000 to the partnership, Amy contributes $50,000 to the partnership and John contributes $40,000. They have a written partnership agreement but there is no provision for voting rights. The partners disagree about whether to bring Betsy into the partnership. As to these facts, which statement is true?
A. | New partners cannot be added to an existing partnership under either the Uniform Partnership Act (UPA) or the Revised Uniform Partnership Act (RUPA). | |
B. | the partners will decide the issue by a vote based upon their capital contributions. | |
C. | the decision must be unanimous. | |
D. | the decision will be made by majority vote. |
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