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Write yes or no Malubay Partnership, Ltd. had been in operation for the past 5 years with Martha designated as its managing partner. She entered
Write yes or no
Malubay Partnership, Ltd. had been in operation for the past 5 years with Martha designated as its managing partner. She entered into an outsourcing contract to set-up andmaintain a more efficient record-filing system of its numerous transactions, which had to entail additional company expense.Mr. Jay, the limited partner opposed Martha's decision citing as his ground that it is quite expensive, even threatened to disassociate himself from the partnership if his decision will not be followed.
- Is the act of Martha of entering into such a contract valid?
- Does Mr. Jay have the right to question the act of Martha, considering that he is a limited partner?
- If Mr. Jay disassociate, will his act create partnership dissolution?
- If it is Martha who decides to retire, will the partnership be dissolved?
- If on account of the partnership decision to incur the expense of entering into an out-sourcing contract, Mr. Jay, assigned instead his entire interest to his good friend Mr. Tan, is the partnership dissolved by his act?
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