25 May Question TEST BANK UNIT EIGHT: BUSINESS ORGANIZATIONS Fact Pattern 36-1B (Questions B10¨CB13 apply)
Question
TEST BANK UNIT EIGHT: BUSINESS ORGANIZATIONS
Fact Pattern 36-1B (Questions B10¨CB13 apply)
Brad, Carlos, and Dora are general partners in Eastside Physicians, a medical clinic.
B10. Refer to Fact Pattern 36-1B. Carlos¡¯ assignment of his interest in
Eastside to Good Credit Corporation results in
a.
nothing with respect to Eastside¡¯s existence.
b.
the automatic termination of Eastside¡¯s legal existence.
c.
the immediate maturity of all of Eastside¡¯s debts.
d.
the temporary suspension of Eastside¡¯s business.
A11. Fay is admitted to Global Associates, an existing partnership. A partnership debt incurred before the date of her admission comes due. Fay is
a.
not liable for the debt.
b.
only liable for the debt up to the amount of his capital
contribution.
c.
personally liable only to the extent the other partners do not
pay.
d.
personally liable to the full extent of the debt.
Fact Pattern 36-1B (Questions B10¨CB13 apply)
Brad, Carlos, and Dora are general partners in Eastside Physicians, a
medical clinic.
B11. Refer to Fact Pattern 36-1B. Brad, Carlos, and Dora decide to admit Faisal as a new partner in Eastside Physicians. Faisal¡¯s liability for partnership debts incurred before his admission is
a.
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