Flashcard Set Preview
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| 1 |
Cannot waive....
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Partnership registration
Right of access to books and records
Duty of loyalty and care (but...
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Usually partners personally liable BUT
Partners who only liable to extent of contribution....
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Partners without capacity (minors)
Limited Partners
Incoming Partner
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Management of Partnership
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All partners have = rights, unless provided otherwise
Ordinary Course of Business-...
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Liability of Outgoing Partner
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Remains lialb eon all obligations incurred while partner unless release or novation
Also...
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Order of Distribution after Dissolution
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Outside Creditors
Insider Creditors
Contribution
Rest split equally unless otherwise noted
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