A general partnership owed $90,000 to a supplier. One month later, Dana was admitted as a new partner and contributed $30,000 to the partnership. The supplier now seeks to collect the old debt from Dana's personal bank a...
Citations: Uniform Partnership Act and Revised Uniform Partnership Act principles
...er for an unrelated car loan. The creditor wants to collect by taking partnership equipment and voting the debtor partner's interest to force a sale of the business. What is the creditor's usual remedy against the partne...
Citations: Uniform Partnership Act and Revised Uniform Partnership Act principles
...d not consent to admit Olive as a substitute limited partner, and the partnership agreement requires general partner consent for admission of any transferee as a partner. Olive now demands voting rights on a proposed pro...
Citations: Uniform Limited Partnership Act principles
A and B own land as tenants in common. A dies with a will leaving all property to D. What happens to A's interest? The correct answer distinguishes tenancy in common from joint tenancy. NCBE MEE Subject Matter Outline
Citations: NCBE MEE Subject Matter Outline
A limited partner sold her entire LP interest to a buyer. The partnership agreement required general partner consent before a transferee could become a substituted limited partner, and no consent was given. The buyer now...
Citations: Uniform Limited Partnership Act principles
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 de...
Citations: Uniform Partnership Act and Revised Uniform Partnership Act principles
A partner withdrew from a general partnership. The partnership removed the partner from internal records but did not notify a long-time supplier and did not update its public website for several months. The former partne...
Citations: Uniform Partnership Act and Revised Uniform Partnership Act principles
Spouses live in a community-property state. During marriage, one spouse earns wages and the other spouse receives an inheritance from a parent and keeps it in a separate account. Which statement is most accurate? The que...
Citations: NCBE MEE Subject Matter Outline, Family Law, Uniform Marital Property Act section 4
Testator devises property "to Lee for life, then to Dana if Dana survives Lee." Lee and Dana are alive when Testator dies. How should Dana's interest be classified? The question tests contingent remainders based on survi...
Citations: Common-law future-interest classification principles
...d Beneficiary to sign a release approving Trustee's purchase of trust property. Trustee told Beneficiary the price was fair but did not disclose that Trustee was the buyer, that Trustee had obtained a lower private appra...
Citations: Uniform Trust Code section 1009
Two buyers claimed the same property after one recorded late and the other had inquiry notice. Another actor changed position after relying on the relevant statement, document, or official action. Which analysis best pro...
Citations: Recording acts, Mortgage and registry principles
Two buyers claimed the same property after one recorded late and the other had inquiry notice. The facts support the doctrine in part, but a timing problem may limit the requested remedy. What is the strongest reason for...
Citations: Recording acts, Mortgage and registry principles
A and B own land as tenants in common in equal shares. A pays all property taxes to prevent a tax sale. Which statement is most accurate? The correct answer states the contribution rule for necessary property taxes. NCBE...
Citations: NCBE MEE Subject Matter Outline
A building owner told her property manager, "Get the lobby repainted before Monday, and buy what you need from the usual supplier." The owner did not mention primer. The manager ordered paint and primer from the supplier...
Citations: Restatement (Third) of Agency section 2.02
A decedent's will leaves all probate property to adult children from a prior marriage and omits the surviving spouse. The spouses had no premarital or marital agreement. Which statement is most accurate? The question tes...
Citations: Uniform Probate Code section 2-202, NCBE MEE Subject Matter Outline, Family Law
A divorce decree divided marital property and ordered one spouse to pay monthly maintenance until further order of the court. Two years later, the payor spouse involuntarily loses a job and obtains new employment at subs...
Citations: NCBE MEE Subject Matter Outline, Family Law, Uniform Marriage and Divorce Act sections 316, 319
A limited partner gives valid notice of withdrawal under the partnership agreement. The former limited partner then demands direct title to 20 percent of the LP's equipment and claims the right to sign a new customer con...
Citations: Uniform Limited Partnership Act principles
A partner in a landscaping partnership learned from a partnership customer that a large apartment complex needed a long-term maintenance contract. Without telling the other partners, she formed a separate company, used t...
Citations: Uniform Partnership Act and Revised Uniform Partnership Act principles
A partner spent 30 hours each week running a partnership's store. The partnership agreement was silent on compensation. At the end of the year, the partner demanded a market-rate salary in addition to her share of profit...
Citations: Uniform Partnership Act and Revised Uniform Partnership Act principles
A properly formed limited partnership defaults on a supplier contract. The supplier seeks to collect from a passive limited partner's personal assets solely because the limited partner owns a 40 percent limited partner i...
Citations: Uniform Limited Partnership Act principles
A properly formed limited partnership has one general partner and eight limited partners. A supplier asks who ordinarily has authority to manage the LP's ordinary business and place ordinary inventory orders for the LP...
Citations: Uniform Limited Partnership Act principles
A State A divorce decree includes a final property-equalization payment, $15,000 in accrued child-support arrears not subject to retroactive modification, and future monthly support subject to prospective modification. T...
Citations: Full faith and credit principles, Judgment finality principles
A three-person general partnership has no written agreement. One partner contributed most of the money, one contributed most of the labor, and one joined later but was admitted as an equal partner. They now disagree over...
Citations: Uniform Partnership Act and Revised Uniform Partnership Act principles
Decedent typed and signed a document titled "My Will," leaving all property to a niece. No witness signed. Decedent emailed the signed document to the niece and to Decedent's lawyer, saying, "This is the will I want admi...
Citations: Uniform Probate Code section 2-503
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