The sale of a partner\'s transferable interest in the partnership entitles the b

Question

The sale of a partner's transferable interest in the partnership entitles the buyer to what rights? O The right to manage the partnership. Distributions, like profit, that the selling partner was entitled to. The right to represent the partnership in a legal proceeding. O The right to inspect the partnership's accounting books QUESTION 2 are legal reasons for avoiding or reducing liability of an individual who is liable on a neg e Procedural defenses O Real defenses e Personal defenses O Excuse defenses QUESTION 3 Which of the following is a personal defense against a holder in due course? o Breach of contract Fraud in the essence Forgery Minority or infancy QUESTION 4 The death of one of the general parthers causes oissoluton of the imited parthershio QUESTION 5 gpe alt an

Explanation / Answer

1 a

The right to manage the partnership

As per the law if the partner sells his interest in the partnership then the buyer will be entitled to manage the partnership0

2 C

Personal Defense

Personal defense is the legal reason through which the liability of an individual in an negotiable instrument is reduced or prevented.

3 A

Breach of contract

Breach of the contract is the personal defense

4 True

It depends on the partnership[ agreements if no agreements has been done earlier about the partnership then the limited partnership dissolve but if there is an agreement of transferring the ownership of the death partner or any other terns then the agreed astep will be followed and company may not be dissolved

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