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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 purchaser owns the partner's management rights and can bind the partnership in the ordinary course. The purchaser becomes personally liable for all partnership debts immediately. The purchaser generally receives only the transferring partner's economic interest unless the other partners admit the purchaser as a partner. The purchaser receives partnership property directly, including a share of each asset.

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