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Source Best Interests of the Child Best Interests of the Child Showing the closest available flashcard practice.

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0 tracked cards Business Associations

A partner sold "my entire interest in the partnership" to an outside investor. The other partners did not consent to admitting the investor as a partner. The investor now demands the right to vote on ordinary business decisions and inspect confidential customer files.
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The transfer is void because partnership interests can never be transferred. The transfer automatically dissolves the partnership. The purchaser generally receives only the transferring partner's economic interest unless the other partners admit the purchaser as a partner. The purchaser can inspect confidential partnership records as a partner without the other partners' consent.

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