Briefly explain the events that cause the dissolution of a limited partnership under RULPA
What will be an ideal response?
a. The end of the life of the limited partnership, as specified in the certificate of limited partnership.
b. The written consent of all general and limited partners.
c. The withdrawal of a general partner. Withdrawal includes the retirement, death, bankruptcy, adjudged insanity, or removal of a general partner or the assignment by a general partner of his or her partnership interest. If a corporation or partnership is a general partner, the dissolution of the corporation or partnership is considered withdrawal.
d. The entry of a decree of judicial dissolution, which may be granted to a partner whenever it is not reasonably practical to carry on the business in conformity with the limited partnership.
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Karen has decided to develop a code of ethics for her law firm by starting with the text of the code of ethics of a highly respected law firm of roughly the same size that operates in her state. What is the biggest problem with this action?
a. the threat of plagiarism b. the missed opportunity to solicit employee input c. the likelihood that her managers will ignore the new code d. the likelihood that the other firm’s code will not apply to issues relevant to her firm
What is the underlying premise of The United Nations 1948 Universal Declaration of Human Rights?
a. Wider protections of the rights of individuals of diverse backgrounds transcends national context b. Nations should limit their protections to those appropriate to their dominant culture c. Discrepancies between laws and common practices need to be documented and rationalized d. Religious rights and freedoms are the only fundamental rights that should be protected
Studies done on the correlation between good corporate behavior and good financial performance have generally found
A. a small negative correlation. B. a small positive correlation. C. no correlation. D. a large positive correlation. E. a large negative correlation.
Since the income of a partnership must be reported on the individual partners' personal income tax returns, this results in double-taxation of partnership profits.
Answer the following statement true (T) or false (F)