Question
Graham is a partner in Johnson Associates, a partnership. The term of the partnership agreement is two years and the agreement does not include any
Graham is a partner in Johnson Associates, a partnership. The term of the partnership agreement is two years and the agreement does not include any clause on buyouts. After the term expires, Graham decides to dissociate and the remaining partners wish to continue. Under the RUPA:
a. the remaining partners must wind up and terminate the partnership.
b. they must buy out Graham's interest on Grahams demand for payment.
c. they automatically must, within 90 days, pay in cash to the partner the partnerships estimate of the buyout price, plus interest.
d. they can renew their partnership agreement.
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